Stay long Dow futures: Raise your sell stop

Raise your sell stops in Dow Futures and sit tight.
Should be long here around the 13,000 level , if you’ve been following along.  I thought you might have to take up to 150 ticks heat.  So far the low of the moon was 12,926 so far.  That’s only 74 ticks worth of heat, so you shouldn’t have gotten stopped out.
I have 13,300 and then 13,400 as sell targets.
Good Trading

Hurricane Sandy Comes A Calling

If you are in the path, I hope by now you have taken steps to protect what’s near and dear to you.

As for the markets,   most likely, the Stock indexes will be closed for at least another 48 hours, but that’s going to change on a day to day basis.

Today, the corn held tough, as the beans took it on the chin.  Quite honestly, I think its probably best to sit tight. 
Liquidity is going to be absent until we get the storm addressed.

I am in Chicago, and they are warning that we’ll have 30 foot waves on LSD.   (Lake Shore […]

13,000 holds: Corn and Wheat give sell signals

I have been long DJZ here.  That is no news. I suggested there might be a 150 pt window of heat.  So far, the low in DJZ was 12,937:  That’s just 63 points.
The S&P also traded to to key support at the psychologically important 1400 level. Today’s low was 1394.70, and we bounced back to settle at 1407.

Hurricane Sandy is on its way. We will have light volume probably through Wednesday.  I’d be looking for a light volume rally.  But that’s been my idea for a week here.  Lets see if it pans out.

Have your stops in place, in case there’s some […]

For What its Worth: Corn is a sale today

Today I got a major sell signal in CZ December corn.  That being said, over the past 5 months, I have had these as well, and promptly had that position in my face after an initial quick profit.
For what its worth, my analysis suggest we could have a break hard here.

I am still long/bullish the Stock indexes after this break. However, I am not stupidly long. I have reasonable sell stops below, in case there is another 200 Pts of selling which might rush into this market.


Gold slips to a 6-week low

December gold has major resistance at $1800.00 an ounce.  in the last 3 weeks, we have seen gold drop $80 bucks and ounce or 5% of its value.  Technically, there is an old gap, back at 1694 which we are within 30 bucks of hitting.  That should be  a target well within the reach of us withing the next  5 trading sessions.  If the bears can squeeze all the gold bugs out,  we might get a chance to buy gold down around the 1545 level,  which is our 3-month low, and the bottom of our trading range  Looking at the chart,  we have support at […]

13,118 then 13,000 look like low risk buys

While we never got to 13,600 again, if you’ve been following along, I’ve been suggesting selling rallies, with tight buy stops.  That being said,  we traded down to 13,126,  which is just 6 ticks away from an old chart low at 13,118. 
I’d be looking to cover any existing shorts, and look for a bounce on an over sold, emotional move.

We’ve gotten some iffy earning reports,  we are heading 13 days in front of the election.
I just don’t see any major moves, higher or lower between then.. 

I’d definitely be a buyer at the 13,000 level on the initial flush down.


Dow never jumped up to sell target

Yesterday’s high in the DJZ was 13,530.Today’s low is 200pts lower.  Sadly, i havd 13,550 and 13600 as resting sell orders.  They never got hit. 
It is interesting that 13,450 to 13,600—– a narrow 150 pt range, has been the Maginot line since September 11th. 
This is starting to look like the Dow wants to roll over here.
I’d sell into rallies, all the time with my eyes at the 13,600 level as the price level to pull the rip cord on the parachute.

I am not sure what the next 3 weeks have in mind, but I’d be very suspect of […]

Whipsawed in the Grains/ Look to Sell DJZ at 13,600

That sound you are hearing is a whipsaw.  Kind of like putting your left hand into a blender.
Fortunately, I always have stops in place and I always use options so that from day one I know my exit strategy.

There are 6 trading days left on the Nov options.  I am going to hang on to them because they are not worth exiting.  Monday we may come in set up for a sell off,  but I honestly doubt it. Grains were set up for a sell off, and they have rejected that down move.  Facts are facts.

The Dow shorts have all been exited.  […]