lean hog futures trade idea – cullen outlook – formation finder
This is a sample of Brian’s email newsletter, The Cullen Outlook.
This is from the Trade Idea portion from November 3rd.
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December LEAN HOGS:
After the Formation Finder on Tuesday, we are STILL banging up against the 50 day moving average in blue.
With yesterday’s strong move higher and no follow through this morning, I would like to get involved here. The risk will be just over both the weekly highs and that 50 day…
SELLING to enter at 47.00 or better (GTC) …last traded 47.10
Risk will be the 48.50 level …($600.00)
Objective will be the 41.00 level …$2,400.00
(short term obj will be the 44.00 level …$1,200.00)
initial margin is $1,320.00 per contract
*** Consider MAKING YOUR STOP A 2 LOT. If we DO break above the highs and the 50 day, we may see some breakout price action higher. I did a video on that strategy if you are interested in adding it to your arsenal. Check it out by clicking this link! ***
OPTION TRADERS: Look to BUY the December 44.00 put for 1.60 ($640.00)
Check out the trade idea in Hogs on a chart…. (click to enlarge)
UPDATE: FILLED at 47.00
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