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3: GRAINS
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January Canola RSF0
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I hate to see the Canola trade struggle like this. Why? Because the longer it takes to get momentum, the more likely it will be to lose momentum and fall.
BUY 2 January Canola at 4100 (November 25)
Exit Stop: 3980 (stop)(GTC)
Approximate Risk: $240 per contract
Profit Target: 4200 (limit)(GTC)
Approximate Profit: $200 per contract
Degree of Risk: Moderate to HIGH
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March Wheat WH0
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What a gip! We nailed the Wheat trade but were voided by the opening gap. Too bad too. The market nearly found the first profit target.
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4: MEATS
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January Feeder Cattle FCJ0
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Watch List – I’m really tempted to buy Feeders, but all that resistance at 9400 is giving me pause.
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6: SOFTS
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March Cocoa CCH0
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I still like Cocoa short and after Monday’s session I’m loosening up the risk assessment a bit.
If March Cocoa opens at or above 3180
SELL 2 March Cocoa at 3177 (stop)(day)
If filled: Exit Stop: 3297 (stop)(GTC)
Approximate Risk: $1200 per contract
Profit Target: 3107 (limit)(GTC)
Approximate Profit: $700 per contract
Degree of Risk: Moderate to HIGH
