morning market picks for November 24, 2009

Commodity Pick Report

Morning Call: November 24, 2009

"The money's made in the sitting and the waiting, not the trading." - Jesse Livermore

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Welcome to Commodity Pick Report!

Commodity Pick Report gives you my best hand picked trades for each week. The trades below are classified according to their probability of success, with low risk trades having the greatest probability of working out and high risk trades the least regardless of risk amounts.

There are also trade management suggestions for open positions. Profit targets are offered for your consideration but unless specified trades will be managed according to the commentary. I would advise you to adjust recommendations to suit your own circumstances.

Remember that making money in trading does not require you to take numerous trades; rather the best way to make money is to take multiple contracts on the most promising trades. All trade recommendations are written for single contracts; however you might consider trading multiple contracts whenever your account, and risk tolerance allow.

Note: CPR trades do not account for slippage; therefore your actual fills might be slightly different than those reported here.

Here's to your success!

Erich
erich@tradershelpingtraders.com

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1: CURRENCIES
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December Australian Dollar ADZ9
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Oh crap! The AD's making a bigger bounce off support than I anticipated. There's nothing I hate worse than seeing a profitable trader turn into a loser, but unless we see the bears drive the market lower on Tuesday that's exactly what we're going to get.

CONTINUATION of Short 2 December Australian Dollar at 9177 (Nov 19)
Exit Stop: 9303 (stop)(GTC)
Approximate Risk: $1260 per contract
Profit Target: 9077 (limit)(GTC)
Approximate Profit: $1000 per contract
Degree of Risk: HIGH

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December British Pound BPZ9
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FLAT

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December Canadian Dollar CDZ9
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FLAT

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December EuroFX ECZ9
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It doesn't look like the market will fall off Tuesday but I'll run the sell trade anyway. If prices continue higher there's no harm in running our order.

If December EuroFX opens at or above 148.00
SELL 2 December EuroFX at 147.81 (stop)(day)
If filled: Exit Stop: 149.51 (stop)(GTC)
Approximate Risk: $2125 per contract
Profit Target: 147.01 (limit)(GTC)
Approximate Profit: $1000 per contract
Degree of Risk: Moderate to HIGH

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December Japanese Yen JYZ9
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FLAT

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December Swiss Franc SFZ9
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FLAT

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December US Dollar Index DXZ9
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FLAT

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2: FINANCIALS/INDICES
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September Eurodollar EDU0
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FLAT

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December 30 Year T-Bond USZ9
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FLAT

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December mini-DOW YMZ9
———-
FLAT

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December mini-S&P ESZ9
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FLAT

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3: GRAINS
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January Canola RSF0
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We bought Canola on Monday but the low closing price means that resistance is still intact. Leave the exit stops where they are for Tuesday.

BUY 2 January Canola at 4100 (stop)(limit)(day)
If filled: Exit Stop: 3980 (stop)(GTC)
Approximate Risk: $240 per contract
Profit Target: 4200 (limit)(GTC)
Approximate Profit: $200 per contract
Degree of Risk: Moderate to HIGH

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March Corn CH0
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FLAT

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March Oats OH0
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FLAT

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March Soybean Meal SMH0
———-
FLAT

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March Soybean Oil BOH0
———-
FLAT

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January Soybean SX0
———-
FLAT

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March Wheat WH0
———-
FLAT

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4: MEATS
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January Feeder Cattle FCJ0
———-
FLAT

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February Live Cattle LCG0
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FLAT

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February Lean Hogs LHG0
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FLAT

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5: METALS
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March Copper HGH0
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FLAT

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February Gold GCG0
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FLAT

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March mini-Silver YIH0
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FLAT

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6: SOFTS
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March Cocoa CCH0
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What can I say? I'm a sucker for a small ranging market.

If March Cocoa opens at or below 3325
BUY 2 March Cocoa at 3327 (stop)(day)

If filled: Exit Stop: 3277 (stop)(GTC)
Approximate Risk: $500 per contract
Profit Target: 3377 (limit)(GTC)
Approximate Profit: $500 per contract
Degree of Risk: Moderate to HIGH

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March Coffee KCH0
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FLAT

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March Cotton CTH0
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FLAT

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January OJ OJF0
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I'll give the OJ trade one more day to come around, otherwise I'm pulling it.

If January OJ opens at or above 111.20
SELL 2 January OJ at 111.15 (stop)(day)
If filled: Exit Stop: 114.85 (stop)(GTC)
Approximate Risk: $555 per contract
Profit Target: 108.15 (limit)(GTC)
Approximate Profit: $450 per contract
Degree of Risk: Moderate

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March Sugar SBH0
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Sugar filled us to the short side on Monday. Cancel the buy order and leave exit stops where they are for Tuesday.

CONTINUATION of Short 2 March Sugar at 2213 (November 23)
Exit Stop: 2239 (stop)(GTC)
Approximate Risk: $1411 per contract
Profit Target: 2133 (limit)(GTC)
Approximate Profit: $896 per contract
Degree of Risk: Moderate to HIGH

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Commodity Pick Report is a publication of Traders Helping Traders.net
http://www.tradershelpingtraders.net
erich@tradershelpingtraders.net
Copyright (c) 2003 - 2009 Traders Helping Traders.net.

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My Lawyer Made Me Say
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Futures trading involves the substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources that Commodity Pick Report believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such.

Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results. Any dollar amount quoted is exclusive of commissions and fees.

CFTC Rule 4.41
RISK DISCLOSURE!

Trading commodity Futures and options on futures involves significant risk. You must consult licensed professionals or your own advisors before trading to determine if it is suitable for you.

Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. You must consult your broker or advisor before making any trade to ensure current prices, margin requirements and other factors determinant to suitability.

By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers. You agree before doing any trade contained herein to consult your charts and advisors to verify all information and make your own decision.

Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.

In fact, there are frequently sharp differences between hypothetical performance results and actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk and no hypothetical trading record can completely account for the impact of financial risk in actual trading.

For example, the ability to withstand losses or to adhere to particular trading program in spite of trading losses are material points which can also adversely affect actual trading results.

There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.

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