CURRENCIES
September Canadian Dollar CDU9
Adding insult to Monday’s injury the CD gapped us on the open keeping us out of our buy position. Staying FLAT for Wednesday.
September Japanese Yen JYU9
Resistance still holds and the Yen is taking a breather. I think it will continue higher for the shorter term.
If September Japanese Yen opens at or below 109.00
BUY September Japanese Yen at 109.25 (stop)(day)
If filled: Exit Stop: 107.25 (stop)(GTC)
Approximate Risk: $2500 per contract
Profit Target: 110.05 (limit)(GTC)
Approximate Profit: $1000 per contract
Degree of Risk: Moderate to HIGH
GRAINS
November Canola RSX9
Canola’s pullback continues to stall against resistance. I’ll look at selling below Tuesday’s low for Wednesday.
SELL November Canola at 420.5 (stop)(limit)(day)
If filled: Exit Stop: 430.0 (stop)(GTC)
Approximate Risk: $190 per contract
Profit Target: 407.0 (limit)(GTC)
Approximate Profit: $270 per contract
Degree of Risk: Moderate
MEATS
August Feeder Cattle FCQ9
Watch List – I still like Feeder’s chances this week we just need the right place to get in.
SOFTS
October Sugar SBV9
Watch List – I’m looking for resistance to form for Wednesday. That will be a pretty strong sell signal for Thursday.
