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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Good Morning—
December LEAN HOGS:
(HEZ6)
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…
TRADE IDEA:
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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