CURRENCIES
September Australian Dollar ADU9
Watch List – If I were the kind of guy to start a new position in a currency market before the weekend I’d be looking to sell below this week’s support.
September British Pound BPU9
Watch List – Ditto for the BP.
September Japanese Yen JYU9
Watch List – Now that the Yen has picked a direction we’re on the lookout for support to confirm so we have another chance to buy.
September US Dollar Index DXU9
Watch List – The US is a balanced market but I favour a move lower. I’ll let it trigger and consider a trade for next week.
FINANCIALS/INDICES
March Eurodollar EDH0
FLAT – Nuts. We got a bounce off resistance but it’s too big to do anything with.
GRAINS
July mini- Corn @YCN9
Watch List – We’ll be rolling into the September contract, but watch Friday’s session, it could give us a much needed clue to the market’s true direction.
July Soybean Meal SMN9
Soy Meal closed far enough from our entry that I’m okay with running it on Friday. We’ll have to see some serious momentum to get a fill.
If July Soy Meal opens at or above 3960
SELL July Soy meal at 3949 (stop)(day)
If filled: Exit Stop: 4077 (stop)(GTC)
Approximate Risk: $1280 per contract
Profit Target: 3819 (limit)(GTC)
Approximate Profit: $1300 per contract
Degree of Risk: Moderate to HIGH
MEATS
August Feeder Cattle FCQ9
Yep. Too early in the Feeder trade. The end result is a whipsaw.
COMPLETION of Short August Feeder Cattle at 9660 (June 16)
Exit Stopped: 9775
Approximate Loss: $575 per contract
