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Position Trades
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1: CURRENCIES
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March Australian Dollar ADH0
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How disappointing. We called the AD beautifully, but the opening gap voided our trade. FLAT until we get the next setup.
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March Canadian Dollar CDH0
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The CD continued to make nice gains for us. Bring exit stops at least to breakeven for the remaining contract.
CONTINUATION of Short March Canadian Dollar at 9687 (January 20)
Exit Stop: 9687 (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’re still long the Yen in spite of some choppy trading the last few days. The good news is that the market closed high, so we might see gains again for Friday.
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 US Dollar Index DXH0
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Time to bring the remaining stops at least to breakeven for Friday. Don’t be shy about making them tighter still. We’re likely to see some sort of reaction here before the weekend.
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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January Canola RSF0
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Canola is working too hard to rally, which means that we’d be better off looking for resistance and maybe another chance to sell. Of course, if the market re-tests support and holds, then the bulls should take the market much higher.
FLAT
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4: MEATS
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February Live Cattle LCG0
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Got stopped on the remaining Cattle contract when the market backed up Thursday. I’m on the lookout for support however. I’m not convinced that this run is over.
COMPLETION of Long February Live Cattle at 8577 (January 14)
Stopped: 8695 (January 20)
Approximate Profit: $470 per contract
1st Profit Target: 8747 (January 19)
Approximate Risk: $680 per contract
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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:
10470
10520
10560
10605
10680
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March mini-S&P ESH0
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Support and Resistance Lines:
1126.00
1129.50
1132.00
1143.00
1147.00
