This is a sample of Brian’s email newsletter, The Cullen Outlook. This is the Pre-Dawn Targeting portion for Thursday, July 16th.
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Positions we have on:
- SHORT the December Kansas City Wheat from 6.00
- LONG the August Live Cattle from 146.75
Best looking chart to start your day…
This market has pressed up against 12.60 – 12.80 a few times over the past month. Each time it has gotten turned away. I am not saying that this will happen again but I would like to get involved to the downside. Once filled, if this market does not break lower and we continue to the upside, I think this is one of those cases where we might want to look to make our stop loss a 2 lot and see if we can participate in the upside after getting stopped out. If you are unfamiliar with the concept, take a quick view of the video I did on it a while back.
Make Your Stop Order a 2 Lot:
Another idea: After getting filled on your short future, you may prefer to use a call option, in addition to your stop order. Look to buy the October 13.00 call for 30 points or so (around $336.00) The thought process being… if the market continues higher, you would get stopped out BUT the call option would help you by allowing you to participate in some of that upside move and potentially reduce some of the losses.
(see chart below)
Call in or email your DT broker if this idea peaks your interest or if you have another idea on your mind…
If you are currently NOT a Daniels Trading client, this is the place to be!
You may not scan each market sector every day looking for technical set-ups and formations, but I do!
The Cullen Outlook has something for broker-assisted and self-directed traders alike.
Call in today and let’s get started.
Have a great day!
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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