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1: CURRENCIES
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March Australian Dollar ADH0
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A terrific day in the Aussie trade as we easily found our first profit target and have enough room to get the trailing stop to breakeven!
CONTINUATION of Short 2 March Australian Dollar at 8977 (December 16)
Exit Stop: 8977 (stop)(GTC)
Approximate Risk: $0 per contract
1st Profit Target: 8853 (December 17)
Approximate Profit: $1240 per contract
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March British Pound BPH0
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The Pound came really close to filling our short order on Wednesday but not quite close enough. I’ll run the trade for Thursday; however we might get gapped if this kind of momentum continues.
If the March British Pound opens at or above 161.50
SELL 2 March British Pound at 161.37 (stop)(day)
If filled: Exit Stop: 163.53 (stop)(GTC)
Approximate Risk: $1350 per contract
Profit Target: 160.09 (limit)(GTC)
Approximate Profit: $800 per contract
Degree of Risk: Moderate
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2: FINANCIALS/INDICES
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September Eurodollar EDU0
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Ooops! Things aren’t looking so good for our ED trade. Brace yourself. I think we’re going to get whipsawed Thursday!
CONTINUATION of Short 2 September Eurodollar at 99.047 (December 14)
Exit Stop: 99.200 (stop)(GTC)
Approximate Risk: $382 per contract
Profit Target: 98.860 (limit)(GTC)
Approximate Profit: $467 per contract
Degree of Risk: HIGH
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3: GRAINS
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January Canola RSF0
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Nuts. Canola backed up and stopped us out Wednesday. At least it was a “cheap” loss. I still like this market long; however we need support before buying again.
COMPLETION of Long March Canola at 414.0 (December 14)
Stopped: 408.0 (December 17)
Approximate Loss: $120 per contract
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January Soybean SX0
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Aren’t you glad we got the remaining contract to breakeven for Wednesday? I sure am!
COMPLETION of Long 2 January Soybeans at 1044 3/4 (December 14)
Exit Stop: 1044 (December 17)
Approximate Profit: $0 per contract
1st Profit Target: 1063 1/4 (December 15)
Approximate Profit: $925 per contract
