CURRENCIES
September British Pound BPU9
I think the BP might be heading lower but for the short term I’ll stick with the weekend plan and buy a breakout higher.
If the September British Pound opens at or below 166.00
BUY September British Pound at 166.37 (stop)(day)
If filled: Exit Stop: 162.87 (stop)(GTC)
Approximate Risk: $2187 per contract
Profit Target: 167.97 (limit)(GTC)
Approximate Profit: $1000 per contract
Degree of Risk: HIGH
September Swiss Franc SFU9
Besides the Pound, which is a leftover from the weekend, the Swiss Franc looks promising for Tuesday. In this trade we’re looking at selling the tightening consolidation pattern.
If the September Swiss Franc opens at or above 9200
SELL September Swiss Franc at 9195 (stop)(day)
If filled: Exit Stop: 9290 (stop)(GTC)
Approximate Risk: $1187 per contract
Profit Target: 9100 (limit)(GTC)
Approximate Profit: $1187 per contract
Degree of Risk: Moderate to HIGH
September US Dollar Index DXU9
There’s little harm (and probably little chance) of re-running the USD trade for Tuesday. It looks as though the market will head higher after the bounce off support, but I’ll run the trend trade.
If September US Dollar Index opens at or above 80500
SELL September US Dollar Index at 80330 (stop)(day)
If filled: Exit Stop: 81270 (stop)(GTC)
Approximate Risk: $940 per contract
Profit Target: 79430 (limit)(GTC)
Approximate Profit: $900 per contract
Degree of Risk: Moderate to HIGH
FINANCIALS/INDICES
March Eurodollar EDH0
FLAT – Too bad that we got gapped on the open. This market made a nice move higher to start the week.
GRAINS
November Canola RSX9
Canola’s put in resistance so we have our “line in the sand” to buy above, should the market rally that is.
If November Canola opens at or below 463.0
BUY November Canola at 464.0 (stop)(day)
If filled: Exit Stop: 451.0 (stop)(GTC)
Approximate Risk: $260 per contract
Profit Target: 476.5 (limit)(GTC)
Approximate Profit: $250 per contract
Degree of Risk: Moderate to HIGH
July Soybean Meal SMN9
Soy Meal fell sharply to begin the week making it very easy to find our profit target before the end of the session. I’m switching to the September contract for Tuesday.
COMPLETION of Short July Soy meal at 3949 (June 19)
Profit Target: 3819
Approximate Profit: $1300 per contract
MEATS
August Live Cattle LCQ9
Live Cattle made it official and stopped us out to start the week. It’s my own fault for trying to get into the trade too early. [Sigh].
CONTINUATION of Short August Live Cattle at 8042 (June 16)
Stopped: 8217
Approximate Loss: $700 per contract
METALS
September mini-Silver YIU9
FLAT – Silver was a wash, so I’m pulling the trade for Tuesday.
