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1: CURRENCIES
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December Australian Dollar ADZ9
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FLAT
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2: FINANCIALS/INDICES
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March Eurodollar EDH0
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Watch List – The ED put in resistance right after a strong day. I think this is an early signal that the ED will be coming down. I’m not going to put in a trade for Friday but maybe Monday if the market doesn’t move too far either way Friday.
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3: GRAINS
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November Canola RSX9
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Canola’s a relatively inexpensive market so I don’t mind putting on a trade for Friday. This one’s based on the renewed support just after breaking old support. In other words, we’re retesting resistance but we have divergence in our momentum indicator so I think we’ll see the resistance fail.
BUY 2 November Canola at 391.0 (stop)(limit)(day)
If filled: Exit Stop: 375.0 (stop)(GTC)
Approximate Risk: $320 per contract
Profit Target: 414.0 (limit)(GTC)
Approximate Profit: $460 per contract
Degree of Risk: Moderate to HIGH
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December Oats OZ9
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There’s still big resistance at 221; however I’ll consider a buy on a breakout higher for Friday. This is a bit of a higher risk trade, but Oats are also “affordable” if we’re wrong.
If December Oats opens at or below 221
BUY 2 December Oats at 221 3/4 (stop)(day)
If filled: Exit Stop: 212 1/4 (stop)(GTC)
Approximate Risk: $475 per contract
Profit Target: 232 3/4 (limit)(GTC)
Approximate Profit: $550 per contract
Degree of Risk: Moderate to HIGH
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November Soybean SX9
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I’ll run the Bean trade again for Friday but Thursday’s lack of follow through is not the best sign.
If November Soybeans open at or below 931
BUY 2 November Soybeans at 931 3/4 (stop)(day)
If filled: Exit Stop: 899 3/4 (stop)(GTC)
Approximate Risk: $1600 per contract
Profit Target: 954 3/4 (limit)(GTC)
Approximate Profit: $1150 per contract
Degree of Risk: Moderate to HIGH
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4: MEATS
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October Feeder Cattle FCV9
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Watch List – If we see resistance hold on Friday I’ll consider another sell here next week; otherwise we might be seeing the end of the bear run for now.
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October Lean Hogs LHV9
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Hmmm…resistance came right back into the market. This could put a crimp in our plans to go long, but I’ll let it ride one more day. Note the risk level.
If October Lean Hogs opens at or below 5120
BUY 2 October Lean Hogs at 5170 (stop)(day)
If filled: Exit Stop: 4900 (stop)(GTC)
Approximate Risk: $1080 per contract
Profit Target: 5427 (limit)(GTC)
Approximate Profit: $1030 per contract
Degree of Risk: HIGH
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6: SOFTS
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March Sugar SBH0
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There still isn’t enough room to adjust our second stop, but the market is looking a little more bearish which is good for us.
CONTINUATION of Short March Sugar at 2311 (September 21)
Exit Stop: 2391 (stop)(GTC)
Approximate Risk: $896 per contract
Profit Target on 1st contract: 2253 (September 23)
Approximate Profit: $650 per contract
