Morning Call January 26, 2010

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Position Trades
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1: CURRENCIES
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March Canadian Dollar CDH0
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We can get a little more aggressive with our trailing stop now. I'm bringing mine to 9507.

CONTINUATION of Short March Canadian Dollar at 9687 (January 20)
Exit Stop: 9507 (stop)(GTC)
Approximate Risk: $0 per contract

1st Profit Target: 9587 (January 20)
Approximate Profit: $1000 per contract

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March Japanese Yen JYH0
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Finally the Yen moves far enough that we can bring the exit stop up under Tuesday's low!

CONTINUATION of Long March Japanese Yen at 108.63 (January 11)
Exit Stop: 110.37 (stop)(GTC)
Approximate Risk: $0 per contract

1st Profit Target: 109.83 (January 12)
Approximate Profit: $1500 per contract

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March Swiss Franc SFH0
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As I suspected the Swissy is making another challenge at the current lows. Will the support yield? It might, but I'll leave the buy order in place for the time being.

If March Swiss Franc opens at or below 9670
BUY 2 March Swiss Franc at 9671 (stop)(day)

If filled: Exit Stop: 9511 (stop)(GTC)
Approximate Risk: $2000 per contract
Profit Target: 9797 (limit)(GTC)
Approximate Profit: $1575 per contract
Degree of Risk: HIGH

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March US Dollar Index DXH0
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The USD found new strength and rallied enough for us to bring our trailing stop under Tuesday's low.

CONTINUATION of Long 2 March US Dollar Index at 7773 (January 19)
Exit Stop: 7813 (stop)(GTC)
Approximate Risk: $0 per contract

1st Profit Target: 7853 (January 20)
Approximate Profit: $800 per contract

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4: MEATS
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April Live Cattle LCJ0
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Watch List - Still looking for Cattle to give me support before the next rally.

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April Lean Hogs LHJ0
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Hogs easily found our first profit target Tuesday and gave us a bit of room to bring up our other stop.

CONTINUATION of Short April Lean Hogs at 7135 (January 25)
Exit Stop: 7215 (stop)(GTC)
Approximate Risk: $320 per contract

1st Profit Target: 6920 (January 26)
Approximate Profit: $860 per contract

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March Cotton CTH0
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Cotton slowed a bit and came up short of our first profit target. Right now the best stop placement is the original.

CONTINUATION Short 2 March Cotton at 7035 (January 25)
Exit Stop: 7205 (stop)(GTC)
Approximate Risk: $850 per contract
Profit Target: 6905 (limit)(GTC)
Approximate Profit: $650 per contract
Degree of Risk: Moderate to HIGH

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Day Trading Support and Resistance Lines
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March mini-DOW YMH0
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Support and Resistance Lines:

10055
10115
10250
10315
10380
10470
10590

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March mini-S&P ESH0
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Support and Resistance Lines:

1082.00
1087.00
1103.00
1108.50
1115.50
1126.00
1138.50