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1: CURRENCIES
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March Australian Dollar ADH0
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As I mentioned in the outset most traders should consider closing their positions prior to the Christmas break; however if you’re going to trail a stop put it at our first profit target.
This one will help pay for a few Christmas presents!
CONTINUATION of Short 2 March Australian Dollar at 8977 (December 16)
Exit Stop: 8853 (stop)(GTC)
Approximate Risk: $0 per contract
1st Profit Target: 8853 (December 17)
Approximate Profit: $1240 per contract
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March Japanese Yen JYH0
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Watch List – the Yen’s making a bee line to 108.50′s support. We won’t get a play off of it, but it will be interesting to see how it develops
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March Swiss Franc SFH0
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Watch List – nice support in the Swissy. I’d like to see a bit of a retracement here, perhaps to 9750 before the next leg lower.
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2: FINANCIALS/INDICES
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September Eurodollar EDU0
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Geesch the ED’s labouring! We can bring the stop in a bit; however, because of the holiday, the best course of action would be to try and cash out at/near breakeven and get FLAT before Christmas.
There’s more support nearby. Don’t get cute!
CONTINUATION of Short 2 September Eurodollar at 99.047 (December 14)
Exit Stop: 99.170 (stop)(GTC)
Approximate Risk: $307 per contract
Profit Target: 98.860 (limit)(GTC)
Approximate Profit: $467 per contract
Degree of Risk: HIGH
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March Wheat WH0
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I’m going to pull the pending Wheat trade for Wednesday. Wheat could go either way from here as momentum winds up like a spring. Right now the market’s looking bullish again as 515 1/2′s support holds fast. I’m not going to start a new position though, but with the conflicting signals (falling momentum, strong support), a bracket trade might be the best option… if I were going to trade it that is.
FLAT
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4: MEATS
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February Lean Hogs LHG0
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Hog’s support came in too late for me to do anything with, so I’m pulling the trade for Wednesday and staying FLAT. I would expect a bit of a rally here however.
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5: METALS
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February Gold GCG0
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I’m not really surprised at Gold’s lower price because of declining momentum; however, because of the holiday’s I’m pulling the suggested trade and staying FLAT.
