CURRENCIES
September Australian Dollar ADU9
The Aussie Dollar has been trapped in a sideways range and might be getting ready to breakout as momentum begins to build. Normally I’d be looking to buy with the former trend, but for Wednesday I’ll see about selling support.
If the September Australian Dollar opens at or above 7840
SELL September Australian Dollar at 7830 (stop)(day)
If filled: Exit Stop: 7945 (stop)(GTC)
Approximate Risk: $1150 per contract
Profit Target: 7680 (limit)(GTC)
Approximate Profit: $1500 per contract
Degree of Risk: Moderate to HIGH
September Canadian Dollar CDU9
8610′s support continues to hold….
If the September Canadian Dollar opens at or above 8550
SELL September Canadian Dollar at 8547 (stop)(day)
If filled: Exit Stop: 8733 (stop)(GTC)
Approximate Risk: $1860 per contract
Profit Target: 8287 (limit)(GTC)
Approximate Profit: $2600 per contract
Degree of Risk: Moderate to HIGH
GRAINS
September Soybean Meal SMU9
Watch List – looking for support to come in Wednesday. If we get it there might be another chance to sell before the weekend.
MEATS
August Lean Hogs LHQ9
A little pause after getting filled on Monday. I’m not too concerned yet, but we really need to see momentum come back into the market quickly.
CONTINUATION of Long August Lean Hogs at 6182 (July 6)
Exit Stop: 5962 (stop)(GTC)
Approximate Risk: $880 per contract
Profit Target: 6492 (limit)(GTC)
Approximate Profit: $1240 per contract
Degree of Risk: Moderate to HIGH
METALS
September Copper HGU9
Watch List – Ditto for Copper.
August Gold GCZQ9
Gold has made a tight range giving us support near 920 – 921. I’m going to set up to sell the short term trend lower on a break through support.
If August Gold opens at or above 918.0
SELL August Gold at 917.5 (stop)(day)
If filled: Exit Stop; 932.5 (stop)(GTC)
Approximate Risk: $1500 per contract
Profit Target: 904.5 (limit)(GTC)
Approximate Profit: $1300 per contract
Degree of Risk: Moderate to HIGH
SOFTS
October Sugar SBV9
Watch List – We might have a really good chance to buy off the next support that forms.
