Live Cattle Trade Idea – The Cullen Outlook – Formation Finder
This is a sample of Brian’s email newsletter, The Cullen Outlook from June 30th
*** Check out some of the most recent posts here ***
October LIVE CATTLE:
Time to move our stop loss order up!
LONG from 113.00
…last traded 114.85
*** MOVE STOP from 111.50 to 113.75 (just under today’s low…locking in 0.75) ***
If you bought the August 110.00 put for added protection for 1.80, look to sell that out at 1.20 or better. And we will carry the future alone with our stop in place.
You will lose $0.60 on this option trade but it was purchased for protection when we entered the futures contract, not know if we would get the bounce or not.
Meanwhile the futures contract is up $1.75 and we moved the stop to lock in $0.75
Check out the October Live Cattle chart…
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