This is a sample of Brian’s email newsletter, The Cullen Outlook. This is the Pre-Dawn Update portion for Wednesday December 10th.
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2015…here we come!
I want to welcome all of you who have just begun following along as the New Year starts.
For everyone who has been with me for awhile, welcome back!
A few small changes that current followers will notice is how I will be labeling the emails that you receive.
The early morning emails (like this one) will now be Pre-Dawn Targeting. These emails will pinpoint all of the formations that I see where I believe trading opportunities exist.
For those who are just getting started following along, all clients can look to trade these markets if these levels are reached.
Broker assisted clients feel free to call your broker to discuss or email in…self-directed clients are free to pull the trigger on their own if they agree.
Next, the trade idea emails that come out during the day will be called Trade Idea Snapshot. This is where I will continue highlighting ideas with entries and management throughout. Traders may follow the ideas “as-is” or adjust them to your own comfort levels.
As in the past, some markets from the Pre-Dawn will be highlighted as Trade Ideas in The Cullen Outlook, others will not. I typically use the Pre-Dawn email forum to get ALL of my ideas out to you with entry levels to trade and suggested exit points. As I have in the past, depending on time constraints, I will randomly choose to showcase a few throughout the week in the Snapshot emails.
We have 2 positions on to start the week but I do want to bring 3 others to your attention as well.
Positions we have on:
Short March Cocoa from 29.60
Short March Soymeal from 350.0
February LEAN HOGS:
We have been coiling up over the last 2 weeks and I am looking for a breakout to the upside. The level where I would like to get long would be at 82.00 on a STOP order. The risk would be below last weeks lows around 80.50 If we get the move that we are looking for, I wont hesitiate too long to add an additional contract at 83.00 – 83.25 if that is your trading style. I think the first objective would be the 86.00 level (old October support) and a re-test of 90.00 is not out of the question in my opinion. (see attached HOGS chart)
On Friday, the trendline support level that I was watching at 60.00 did not hold and this morning we are back to the 60.00 level. This market may see further correction and I would like to be a part of it right here. The risk could be as close as back above the trendline at 61.00 or a bit further if you are comfortable to give it more room. I think adding an additional contract if we break recent support at 58.75 is a great idea. The target area will be around 55.00 (see attached COTTON chart)
March SOYBEAN OIL:
Guess who’s back at 32.00 You got it! We have been trading this channel for a while now and I like the idea once again. Buying in at 32.00 while risking under the post-Thanksgiving low of around 31.00 Last week we filled the gap left on the Friday after Thanksgiving and sharply sold-off by 150 points. Perhaps that was a bit overdone and we find support. I look for a re-test of the recent highs of 34.00 and possibly 35.50 (see attached BEANOIL chart)
Sidenote: The ES support at 2070.00 that was mentioned on Tuesday did not hold and we are currently at 2044.00. Let’s take a look at the Bond market if it gets above 146’00 (this would a level that it has touched 3x recently).
And away we go in 2015…who’s with me?!?
LET’S DO THIS!
Learn Futures Technical Analysis from a Pro with The Cullen Outlook
The Cullen Outlook is a futures trading newsletter for those wishing to follow the moves of Brian Cullen, an experienced technical trader. He’ll identify charts setups, provide direct trade recommendations and plans, and share other useful insights to help you become a better technical trader.
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