CURRENCIES
September Canadian Dollar CDU9
The CD was tired as the market fell off sharply on Tuesday. The good news is it never got high enough to find our buy order, so it didn’t cost us anything to be “wrong”.
Staying FLAT for Wednesday.
September US Dollar Index DXU9
-The USD has closed above support the last couple of sessions and that’s bullish. I might be getting a little ahead of myself but I’m bringing in the profit target for Wednesday.
CONTINUATION of Short 2 September US Dollar Index at 78245 (August 21)
Exit Stop: 78845 (stop)(GTC)
Approximate Risk: $600 per contract
Profit Target: 78020 (limit)(GTC)
Approximate Profit: $225 per contract
Degree of Risk: Moderate to HIGH
FINANCIALS/INDICES
March Eurodollar EDH0
A wishy-washy day which doesn’t help us much for Wednesday, but I’ll leave the order in play anyway. I don’t like it as well as I did yesterday, but it’s still viable.
If March Eurodollar opens at or below 99230
BUY 2 March Eurodollar at 99240 (stop)(day)
If filled: Exit Stop: 99080 (stop)(GTC)
Approximate Risk: $400 per contract
Profit Target: 99390 (limit)(GTC)
Approximate Profit: $375 per contract
Degree of Risk: Moderate to HIGH
GRAINS
September Oats OU9
Oat’s are chugging along and should find our profit target Wednesday. Don’t be shy about tightening the profit order however. We’re over $400 to the good and that ain’t peanuts!
Notice I’ve rolled the protective stop up a bit as well.
CONTINUATION of Long 2 September Oats at 206 3/4 (August 24)
Exit Stop: 204 1/4 (stop)(GTC)
Approximate Risk: $125 per contract
Profit Target: 218 3/4 (limit)(GTC)
Approximate Profit: $600 per contract
Degree of Risk: Moderate to HIGH
MEATS
October Feeder Cattle FCV9
Time to abandon the bullish posture (for the short term) and consider selling current support. Note that this is technically countertrend but momentum continues to fall off.
If October Feeder Cattle opens at or above 9990
SELL 2 October Feeder Cattle at 9977 (stop)(day)
If filled: Exit Stop: 10085 (stop)(GTC)
Approximate Risk: $537 per contract
Profit Target: 9902 (limit)(GTC)
Approximate Profit: $375 per contract
Degree of Risk: Moderate to HIGH
SOFTS
December Cotton CTZ9
Cotton fell away on Tuesday but even so I’m going to run a buy order above the resistance. I don’t really expect a fill, but it is with trend.
If December Cotton opens at or below 6070
BUY 2 December Cotton at 6075 (stop)(day)
If filled: Exit Stop: 5835 (stop)(GTC)
Approximate Risk: $1200 per contract
Profit Target: 6245 (limit)(GTC)
Approximate Profit: $850 per contract
Degree of Risk: Moderate to HIGH
