This is a sample entry from Brian Cullen’s email newsletter, The Cullen Outlook.
It’s Wednesday and we have a CHART WATCH! webinar scheduled for later this afternoon at 2:00p (cst). If you can make it, sign up below and we will see you there:
It has been a very busy week, so without further delay, lets get right to it….
In the Indices and Financials:
I have nothing today in stocks or Bonds except to keep an eye on the Bond market up near 139’00 this morning! (currently at 138’17) Definitely something to consider for a possible short term trade if it breaks lower.
In the Currencies:
We have a short mini-Japanese Yen on from 98.50 with a risk of 99.20 We will keep an eye on it and manage the trade accordingly.
The British Pound looks good as it breaks below 170.50 (currently at 170.35). I think the protective stop could go just above our first down day of this move on the 16th of this month at 171.60?
The Euro Currency broke below the 135.00 level. I will be watching to see if it can trade up above the 135.30 level before getting long this contract. This was old support from mid-June and back in early Feb.
The Aussie Dollar is back above 94.00, which it hasnt spent too much time above the last 2 times it traded there.
In the Energies:
If today’s Energy Report takes Crude Oil back above the 103.00 level, you can expect an email with a trade idea to get short. I would keep the risk to just over $1.00 and trade the mini contract.
In the Natural Gas, what can you say? On June 16th this market almost traded 4.80 and this morning it is sub-3.80 Amazing!
In the Livestock:
We have a Cattle On Feed Report scheduled for Friday AFTER the close at 2:00p (cst) Keep an eye on your positions for the balance of the week and into the weekend. CHART WATCH! I sent out a “Market To Watch” email last week Wednesday the 16th in the October Live Cattle back when we were trading at 151.50 and this morning we are trading at 158.00 Up $6.50 in one week!
In the Softs:
The Cocoa market is back approaching the 31.40 that we have been looking for. Let’s see if we can get there today (currently at 31.30) and perhaps jump in and short this market. Risk would be monetary based per each individual trader since we don’t have any recent levels to look for/avoid. I am thinking near the 32.00 level is about right.
CHART WATCH! We haven’t had a good reason to buy Cotton recently but have a look at the last 5 trading days. The market has definitely found some support. In very shallow trading with opens being near where the markets close. This has my attention. If we can get back above the 68.00 level, look to get involved to the long side. Risk would be just below that small support at roughly 67.00
Have a great day in the markets. Call in or email if you see anything that you would like to get involved in.
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