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3: GRAINS
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January Canola RSF0
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That was close, but we’re still long the market. Leave the exit stops where they are and hopefully we’ll see a rally before the weekend.
BUY 2 January Canola at 4100 (November 25)
Exit Stop: 4035 (stop)(GTC)
Approximate Risk: $130 per contract
Profit Target: 4200 (limit)(GTC)
Approximate Profit: $200 per contract
Degree of Risk: Moderate
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March Oats OH0
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We sold Oats on Thursday; however the high closing price is a bit of a concern as it means that support is still intact. The good news is momentum continues to fall so prices might follow suit Friday.
CONTINUATION of Short 2 March Oats at 259 3/4 (December 3)
Exit Stop: 268 1/4 (stop)(GTC)
Approximate Risk: $425 per contract
Profit Target: 253 1/4 (limit)(GTC)
Approximate Profit: $325 per contract
Degree of Risk: Moderate to HIGH
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6: SOFTS
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March Coffee KCH0
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Coffee’s up against resistance again on Thursday’s high, so I’m planning a sell for Friday. Note, this is an aggressive trade in a very aggressive market.
If March Coffee opens at or above 143.20
SELL 2 March Coffee at 143.15 (stop)(day)
If filled: Exit Stop: 145.55 (stop)(GTC)
Approximate Risk: $900 per contract
Profit Target: 141.55 (limit)(GTC)
Approximate Profit: $600 per contract
Degree of Risk: Moderate to HIGH
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March Sugar SBH0
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Leave it up to Sugar to call my bluff by showing us resistance on Thursday. Okay, you wanna play like that?…
If March Sugar opens at or above 2260
SELL 2 March Sugar at 2256 (stop)(day)
If filled: Exit Stop: 2327 (stop)(GTC)
Approximate Risk: $784 per contract
Profit Target: 2183 (limit)(GTC)
Approximate Profit: $828 per contract
Degree of Risk: Moderate to HIGH
