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Action for Level 3 Subscribers: Sell to open 1 contract in the May Wheat Futures (WK14) at 665. This just flashed an overbought signal and we want to short the contract. Wheat has rallied over +100 points off it’s January low near 550 and way overdue for a retracement. We’ll place GTC Buy to Close order […]
Action for Level 3 subscribers: Sell to Open 1 contract in the March Dow Jones (YMH14). YMH14 has made lower highs since Friday morning’s NFP report and just flashed a short-term overbought signal. A protective stop can be placed above 14,470 to manage risk. Our objective is a swing trade and we will post any updates to the trade here.
Action: Place Sell to Open limit order at 1888.50 on the S&P 500 March contract (ESH14). We want to short this overbought level if reached on a momentum move after the Non-farm Payroll report. Let’s see what happens but this price matches some Fibonacci resistance levels and should present conditions that are ripe for profit taking. […]
Action: Place a Buy to Close stop order at 642 in our short Wheat contract (WK14). Our target was 633 and the contract traded down to 636 in the overnight session but is bouncing as we near the pit session. We want to remove the risk and lock in a small +1 point gain if […]
Equities remain overbought and the Ukraine situation over the past several days has caused an uptick in volatility in global markets. Everything from Crude Oil to Grains to Rates has experienced volatility. Most commodity markets surged higher on Monday… the grains saw Wheat gain +10% and Corn gain +8% since Friday’s close. Additionally Soybeans gained +13% in February, Crude Oil surged +3% […]
Action: This is a short Put position in the Option Writer strategy… Sell to open 3 April 18, 2014 Infoblox Inc. (BLOX) Puts at $1.60. This is a $1.60 credit, or $160 for each Put (total of $480), to our account. After the company pre-reported earnings on 4/10 the stock dropped from $34 to $17 and has now […]
Action: Place a Buy to Close “one cancels the other order” (OCO) on our short YMH14 contract. Stop is 16205 and the limit is 16130. This locks in profits and gives us a chance to add to our gains if the DJIA further sells off.