Good evening, everyone!
I got called out of town last minute for a family thingy, no it’s nothing bad, in fact it’s something good; however it didn’t leave me any time for a “regular” weekend edition so this week we’ve got the “Reader’s Digest” condensed version for Monday’s trades!
Enjoy this week’s issue,
Erich
erich@tradershelpingtraders.com
Currencies Market Overview
Australian Dollar
Watch List – The AD might get more serious about giving us a proper pullback and a better chance to BUY. Where? I like the support around 10500.
Canadian Dollar
Watch List – Ditto for the CD. A pullback is pending and once we have confirmation of support we’re off and running!
Euro FX
Watch List – The EC might be a different story. I’ll try to SELL resistance when we get it early this week.
Energies Market Overview
Mini – Natural Gas
As you know I’m not crazy about this market (because it’s CRAZY!); however I still like the long potential here IF we break last week’s resistance high.
BUY March mini-Natural Gas at 2850 (stop)(limit)(day)
If filled: Exit Stop: 2600 (stop)(GTC)
Approximate Risk: $625 per contract
Profit Target: 3100 (limit)(GTC)
Approximate Profit: $625 per contract
Degree of Risk: Moderate to HIGH
Financials/Indices Market Overview
Eurodollar
I might have been a touch tight with the stop placement as we got stopped at breakeven on the remaining position; however I didn’t trust the nearby resistance enough to let the trade go.
COMPLETION of Long 2 June Eurodollar at 995000 (January 25)
Exit Stop: 995000 (January 27)
Approximate Profit: $0 per contract
Grains Market Overview
Canola
I’ll let the Canola trade ride for Monday; however the Bulls are losing serious momentum and will have to step up soon if they’re going to rally this market.
BUY 2 March Canola at 5325 (stop)(limit)(day)
If filled: Exit Stop: 5235 (stop)(GTC)
Approximate Risk: $180 per contract
Profit Target: 5505 (limit)(GTC)
Approximate Profit: $360 per contract
Degree of Risk: Moderate to HIGH
Corn
Corn trade’s progressing nicely. Leave stops “as is” or better.
CONTINUATION of Long March Corn at 609 (January 20)
Exit Stop: 624 (stop)(GTC)
Approximate Risk: $0 per contract
1st Profit Target: 627 (January 24)
Approximate Profit: $900 per contract
Meats Market Overview
Feeder Cattle
Watch List – I like Feeder’s long, but not at this price. A bit of a retracement and signs of support would make me BULLish again.
Lean Hogs
What a tug-o-war between the Bulls and Bears. The good news is that their fight has clearly defined support and resistance, so while I can’t tell you who will win I can tell you where to buy and sell. I’m covering the short side of the trade because it’s with trend.
If April Lean Hogs opens at or above 8612
SELL 2 April Lean Hogs at 8610 (stop)(day)
If filled: Exit Order: 8770 (stop)(GTC)
Approximate Risk: $640 per contract
Profit Target: 8420 (limit)(GTC)
Approximate Profit: $760 per contract
Degree of Risk: Moderate
Metals Market Overview – FLAT
Softs Market Overview
Sugar
Watch List – Now that Sugar’s begun it’s retracement wait for support to show itself before considering another BUY.
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