Adjust Stops to insure a 100 pt profit in Dow Position

  • Posted on: June 17, 2011

Currently, its 925 AM Chicago Time. Dow futures are at 11,962. You should have been long at the 11,800 level. Raise your protective stops to guarantee that you have minimum of 100 pts profit guaranteed. Currently, you have 162 pt profit if you hit the bid and exit.

Do not let this trade even become a push. At this point, its a guaranteed 100 pt winner. As the market rallies, we’ll raise our trailing stop.

In the grains, I like buying this one dollar break for a 2 or 3 day pop higher.
The funds have liquidated 60K longs in the past week. As they take a breather, we should get a pop higher.

I think you sell rallies in crude oil.

More later.
CER