This is a sample entry from Brian Cullen’s email newsletter, The Cullen Outlook.
I wasn’t able to get any Pre-Dawn Updates out last week but I will do my best to get another one out this week before the 3 day Holiday weekend! Markets are closed on Monday for Labor Day.
We have a CHART WATCH! webinar on Wednesday at 2:00p (cst) If you can make it we wuld be glad to have you.
In the Bond market, I like selling this double top anywhere near 141’10 if we can get there today. Currently at 141’01. The risk would be a ½ point or so above the last high of 141’25. We may not see an extended move to 139’00 or lower in the short term but there could be an opportunity to capture up to a point or so if the stock market continues higher.
In the Cotton market, I sent out a Market To Watch last Thursday after it broke above the flat top triangle (at 66.10) it has been forming in August. (Refer back to that email if you can). I still like getting long here if we can hold above 66.00 Currently at 66.25. The risk would be just below yesterday’s low of 65.00 with a short term objective of 68.00 For those who got involved on Thursday or Friday, keep your stops as is for now.
In the newsletter I bought the December Soymeal yesterday at 342.0 This level of support around 340.0 has held going back to November of last year. We will have to see if this can provide another round of support this time around. We will continue to monitor and manage the trade accordingly. Refer back to yesterday’s entry email for trade details.
The Australian Dollar looks like a descending triangle at this point and if we can rally up to 93.00, I wouldn’t mind taking a short position while risking the 93.60 level. The objective would be a break below the 92.00 level
CHART WATCH! The Canadian Dollar is sitting on recent support at 91.00 from last week, the beginning of August and the beginning of June. If the market were to bounce once again, I would like to get involved here to the long side while risking just under that support, perhaps 90.50?
The October Crude Oil market has been coiling up here over the past week. If we can get a break above 94.00, I like getting long this market and see if we can re-test the recent highs in the neighborhood of 97.00
In the newsletter we are still long the September Natural Gas mini contract from 3.83 Currently at 3.93 This will be exited by the end of the week as we are rolling into October.
Those are the markets that have my attention this morning. Call the desk or your DT broker if you want to get involved in any of these ideas.
Have a great week. LETS DO THIS!
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