This is a sample entry from Brian Cullen’s email newsletter, The Cullen Outlook, published on September 24, 2013.
October LIVE CATTLE
With a supportive Cattle On Feed report on Friday afternoon, I would like to get involved in this market to the upside at Monday morning’s opening price if we can. The risk will have to be a bit more than I would want but it has to be below last week’s low. On the flipside, if we see a supportive reaction come in to the market, the objective may be a test of the recent high and beyond. Trade within your comfort level.
BUYING at 126.50 (day order) …last trade 126.75
- Risk will be the 124.00 level …($1,000.00)
- OBJ will be the 131.50 level …$2,000.00
Initial margin for this contract is $1,050.00
Have a look:
It may not be possible to limit losses to the exact loss limit depending upon market conditions and the possibility of limit moves.
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