Commodity Pick Report
Morning Call: February 23, 2010
“The money’s made in the sitting and the waiting, not the trading.” – Jesse Livermore
“There’s nothing wrong with being choosy” – Erich Senft
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Welcome to Commodity Pick Report!
Commodity Pick Report gives you my best hand picked trades for each week. The trades are classified according to their probability of success, with low risk trades having the greatest probability of success and high risk trades the least. There are trade management suggestions for open positions and profit targets are offered for your consideration but I would advise you to adjust recommendations to suit your own circumstances.
Remember the key to making money in trading does not require taking numerous trades; rather the best way to make money is to take multiple contracts on the most promising trades. 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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Position Trades
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1: CURRENCIES
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March Australian Dollar ADH0
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FLAT
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March British Pound BPH0
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FLAT
———-
March Canadian Dollar CDH0
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FLAT
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March EuroFX ECH0
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FLAT
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March Japanese Yen JYH0
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The Yen filled us along with Monday’s rally. Leave the exit stops alone for Tuesday. We need a little more room before we can adjust the trade.
CONTINUATION of Long 2 March Japanese Yen at 10951 (February 22)
Exit Stop: 10841 (stop)(GTC)
Approximate Risk: $1375 per contract
Profit Target: 11023 (limit)(GTC)
Approximate Profit: $900 per contract
Degree of Risk: Moderate to HIGH
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March Swiss Franc SFH0
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FLAT
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March US Dollar Index DXH0
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FLAT
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2: FINANCIALS
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March Eurodollar EDH1
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The ED continues to make us sweat this trade. Every bullish poke higher increases the riskiness of the trade working out as planned. The “good news” is that our stops are above strong resistance. If this trade fails, we can be pretty sure it wasn’t a fluke.
CONTINUATION of Short 2 March (2011) Eurodollar at 98620 (February 10)
Exit Stop: 98770 (stop)(GTC)
Approximate Risk: $375 per contract
Profit Target: 98470 (limit)(GTC)
Approximate Profit: $375 per contract
Degree of Risk: HIGH
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March 30 Year T-Bond USH0
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FLAT
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3: GRAINS
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January Canola RSF0
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FLAT
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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
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Darn it! Soy Meal gapped us by a couple of ticks voiding our trade. It looks like we pegged it right, but we’re just watching now.
FLAT for Tuesday.
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March Soybean Oil BOH0
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FLAT
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March Soybean SH0
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FINALLY we can get this trade to breakeven!
CONTINUATION of Long March Soybeans at 936 1/4 (February 
Exit Stop: 936 1/4 (stop)(GTC)
Approximate Risk: $0 per contract
1st Profit Target: 953 1/4 (February 16)
Approximate Profit: $850 per contract
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March Wheat WH0
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FLAT
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4: MEATS
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January Feeder Cattle FCJ0
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FLAT
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April Live Cattle LCJ0
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FLAT
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April Lean Hogs LHJ0
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Not much has changed for Hogs so I’ll re-run the trade for Tuesday.
If April Lean Hogs opens at or above 6950
SELL 2 April Lean Hogs at 6937 (stop)(day)
If filled: Exit Stop: 7112 (stop)(GTC)
Approximate Risk: $700 per contract
Profit Target: 6807 (limit)(GTC)
Approximate Profit: $520 per contract
Degree of Risk: Moderate to HIGH
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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 Silver SIH0
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FLAT
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6: SOFTS
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March Cocoa CCH0
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FLAT
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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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May OJ OJK0
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OJ’s still holding resistance so I’ll give this one another change as well.
If May OJ opens at or above 13800
SELL 2 May OJ at 13795 (stop)(day)
If filled: Exit Stop: 14245 (stop)(GTC)
Approximate Risk: $675 per contract
Profit Target: 13410 (limit)(GTC)
Approximate Profit: $577 per contract
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March Sugar SBH0
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FLAT
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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:
9865
9930
9995
10055
10105
10140
10260
10300
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March mini-S&P ESH0
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Support and Resistance Lines:
1053.00
1057.50
1068.50
1071.50
1077.00
1080.00
1096.00
1100.50
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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.
10 – 6078 Truesdale Street, Duncan, British Columbia, V9L 0B4
(250)748-9242 (Pacific Time Zone)
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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.
Got it?
