This is a sample of Brian’s email newsletter, The Cullen Outlook.
This is the Pre-Dawn Targeting portion from earlier this morning for Friday, February 20th.
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Positions we have on:
- SHORT Cotton from 65.00
- SHORT Cocoa from 29.70
These are still relatively close to our entry price if you have been thinking of jumping on board with me.
There are 3 other markets that have my attention, so let’s get right to it….
I am looking at a shorter term trade with this market to go LONG. I like the 144.00 level to see if we get some short term support. Bonds have seen a tremendous sell-off over the past 2+ weeks and I have to think that we find some support somewhere down here. I would be risking 20 points to see if we were right ($625.00) and the upside target would be left open for now. I am not sure how the Bond market will handle rolling into June next week but we have 4-5 days until next Thursday to be involved in an rallies should it occur. I would like to be involved in that. (see attached BONDS chart)
April LIVE CATTLE:
I like the idea of selling this market at 152.00 or better. It is coiling up in a pennant consolidation pattern and if you look at the past 2 1/2 months, this could be viewed as a bear flag rally. I think we trade lower over the next few weeks. The stop would be $1.50 higher at 153.50 and if we get up there you might think to reverse your position by making your stop order a 2 lot. One important note, we do have a Cattle On Feed report after the close today which is why in addition to my stop order I would recommend buying an April 30 delta call with the short future. (see attached CATTLE chart)
May SOYBEAN OIL:
There is some nice curling action lower happening here over the past 3 days and I want to get involved SHORT near 32.00 We could risk above Mondays high at 33.00 ($600.00) and I dont think seeing 30.00 again as our objective is out of the question. This market had a great rally in the first week of Feb but the last 2 weeks we have just been choppy trading between 31.60 and 32.60 With Wed and Thurs weakness, I am comfortable to jump in here. 32.50 was support all throughout the latter part of last year. More recently in December, 32.00 has held for the most part. Over the past 2 weeks it has NOW provided decent resistance and if we can push back below it, we might have a nice trade on our hands. (see attached BEANOIL chart)
Call the desk or email your DT broker if any of these ideas catches your interest or if you would like to talk about an idea of yours that you are thinking about.
Finish the week strong and have a great weekend!
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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