CURRENCIES
September Canadian Dollar CDU9
Watch List – I’m not going to do it going into the weekend, but I’d really like to see resistance hold for Friday so we can buy Monday.
September Japanese Yen JYU9
Support formed for Thursday so I guess we’re buyers for Friday. As you know I’m not a fan of new positions going into the weekend; hence the HIGH risk rating.
If September Japanese Yen opens at or below 107.50
BUY September Japanese Yen at 107.63 (stop)(day)
If filled: Exit Stop: 105.79 (stop)(GTC)
Approximate Risk: $2300 per contract
Profit Target: 108.93 (limit)(GTC)
Approximate Profit: $1625 per contract
Degree of Risk: HIGH
FINANCIALS/INDICES
GRAINS
November Canola RSX9
We got the sell order filled on Thursday but the fact that the market closed above the support area is not a good sign. Keep your fingers crossed!
CONTINUATION of Short November Canola at 420.5 (July 16)
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 to HIGH
September mini-Wheat @YWU9
This is the mini-Wheat market so the risk is small enough that I’ll give it a go for Friday.
If September mini-Wheat opens at or below 546
BUY September mini-Wheat at 549 1/2 (stop)(day)
If filled: Exit Stop: 528 1/2 (stop)(GTC)
Approximate Risk: $210 per contract
Profit Target: 585 1/4 (limit)(GTC)
Approximate Profit: $357 per contract
Degree of Risk: Moderate to HIGH
MEATS
August Feeder Cattle FCQ9
Watch List – Still looking for a pullback to the 101.60 +/- area before I consider another buy.
METALS
September mini-Silver YIU9
Watch List – There’s a good chance we’ll have a silver trade next week… providing the market doesn’t bolt Friday.
SOFTS
October Sugar SBV9
Countertrend or not, we got filled in our Sugar trade Thursday. It would be really nice to get a little breathing room before the weekend though.
CONTINUATION of Shoft October Sugar at 1739 (July 16)
Exit Stop: 1791 (stop)(GTC)
Approximate Risk: $582 per contract
Profit Target: 1691 (limit)(GTC)
Approximate Profit: $537 per contract
Degree of Risk: Moderate to HIGH
