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Position Trades
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1: CURRENCIES
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March Canadian Dollar CDH0
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You could bring your trailing stop in a touch tighter (above Friday’s high), but I’ll let mine run “as is” for Tuesday.
CONTINUATION of Short March Canadian Dollar at 9687 (January 20)
Exit Stop: 9587 (stop)(GTC)
Approximate Risk: $0 per contract
1st Profit Target: 9587 (January 20)
Approximate Profit: $1000 per contract
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March Japanese Yen JYH0
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We just can’t catch a break in the Yen trade as far as rolling our stops is concerned! I was hoping for a stronger day to start this week but it didn’t happen. As such, the exit stops have to stay where they are – at breakeven.
Expect a pullback this week. Let’s just hope it doesn’t move against us too strongly.
CONTINUATION of Long March Japanese Yen at 108.63 (January 11)
Exit Stop: 109.59 (stop)(GTC)
Approximate Risk: $0 per contract
1st Profit Target: 109.83 (January 12)
Approximate Profit: $1500 per contract
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March Swiss Franc SFH0
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I’ll run the Swiss Franc trade again for Tuesday; however the small days are hinting for a move lower not higher.
If March Swiss Franc opens at or below 9670
BUY 2 March Swiss Franc at 9671 (stop)(day)
If filled: Exit Stop: 9511 (stop)(GTC)
Approximate Risk: $2000 per contract
Profit Target: 9797 (limit)(GTC)
Approximate Profit: $1575 per contract
Degree of Risk: HIGH
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March US Dollar Index DXH0
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Things aren’t looking that much better for our USD trade, but we’re not stopped out yet!
CONTINUATION of Long 2 March US Dollar Index at 7773 (January 19)
Exit Stop: 7773 (stop)(GTC)
Approximate Risk: $0 per contract
1st Profit Target: 7853 (January 20)
Approximate Profit: $800 per contract
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3: GRAINS
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March Oats OH0
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FLAT
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4: MEATS
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April Live Cattle LCJ0
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Watch List – Still looking for Cattle to give me support before the next rally.
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April Lean Hogs LHJ0
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We caught a nice move lower in Hogs to start this week. If the market continues like this for another day we will be able to adjust our stops a bit.
CONTINUATION of Short 2 April Lean Hogs at 7135 (January 25)
Exit Stop: 7310 (stop)(GTC)
Approximate Risk: $700 per contract
Profit Target: 6920 (limit)(GTC)
Approximate Profit: $860 per contract
Degree of Risk: Moderate to HIGH
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6: SOFTS
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March Cotton CTH0
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Ditto for Cotton which fell off sharply filling our short position. In hindsight we could have been a little tighter with the entry, but it was “safer” to make the market break old support before entering.
CONTINUATION Short 2 March Cotton at 7035 (January 25)
Exit Stop: 7205 (stop)(GTC)
Approximate Risk: $850 per contract
Profit Target: 6905 (limit)(GTC)
Approximate Profit: $650 per contract
Degree of Risk: Moderate to HIGH
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Day Trading Support and Resistance Lines
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March mini-DOW YMH0
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Support and Resistance Lines:
10055
10115
10250
10315
10380
10470
10590
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March mini-S&P ESH0
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Support and Resistance Lines:
1082.00
1087.00
1103.00
1108.50
1115.50
1126.00
1138.50
