December Dow futures currently at 13,370. Assuming you sold futures around 13,500, certainly not the stone cold high at 13,526… you are looking at a profit of 100 to 130 pts a contract. That’s $1,300.00 paper. I...
Read MoreUpdate: All my shorts are gone this morning. We had a 288 pt break over the last 6 trading sessions. While I certainly didn’t sell the top or buy the low, we took the meat out of the position. My basic idea on the stocks...
Read MoreGoing into the weekend, you should still be short Dow futures and long gold or long gold calls. Take profits if you can, but by all means, if you are riding these winners, move up your respective stops. Lower the buy stops on...
Read MoreBack on Sept 10th, I wrote that I was advising getting long gold, even if a reluctant long. When we popped above $1700.00 an ounce, it triggered a buy. Today we came withing 20 bucks of the target at $1800.00 Take profits on 1/3...
Read MoreFood for thought for fundamental traders out there. Logic suggests that QE3 should have been friendly for commodities in general. However, Corn and Beans have done nothing but drift lower. Corn spiked higher but is now down 60...
Read MoreIf you have been reading this on a regular basis, you will know that I have been only interested in selling new highs in the Stock Index futures, with very tight buy stops above. Today December Dow futures moved below support at...
Read MoreThis Friday we have a USDA ending stocks report. I’d look for a sell off here in the next 3 days to take advantage of any forced liquidation. In the Beans, look to buy at $15.81 with stops and then at $15.17. If we get a...
Read MoreWe are finally getting some good volatility in the beans, as apposed to the relentless rally we saw which started in June. After a $5.40 cent rally, with an unusual lack of any good meaningful corrections, we finally are getting...
Read MoreRumblings of trade issues with China. China and Japan arguing over a small group of islands. China in particular has had demonstrations and protests.protests were orderly in Beijing, with several hundred people circling in front...
Read MoreBack in the 80’s there was a commentator whose name escapes me. He had a sayng , “rule number one– don’t fight the fed”. I can’t say anything more than that. The Fed’s decision to buy...
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