Let’s start where we left off.. April 15, 2011 9:46:16 AM CDT
DIG…The real stop for this Etf is 55.40, however those that do not wish to risk that much can use 56.20 close. You should take 2/3 rds of your profit between 59.15-35. As always keep adjusting your order sizes as you get filled.
OXY…The straight stop is 96.20 close. Take 1/2 off @ 99.40 and adjust your stops accordingly.
A close under 106.50 in the front month crude will in all likelihood see your sell stops elected in the above instruments. We did these trades as a surrogate to being long the crude futures.
GDXJ…use a 39.60 stop close. take 1/2 off @ 42 and adjust your stops accordingly. The Gold will have to maintain above 1455 close for this trade to work. We did this trade as a surrogate to being long the precious metals.
Some of you had resting orders to buy in AAPl @ 323 as well as EUR/JPY @ the 117 level. We have also gone on about the 122.20 level in Yen futures ( 81.70 USD/JPY) as the low risk area to sell the Yen ( buy USD/JPY) if it ever got back there seeing it as a great gift.
Now for today..4/25/11
According to my charts those of you who placed and left the orders as suggested have had a nice week.
Take 1/2 of your AAPL off at the market. Use a 337 stop close for the remainder. AAPL has to start closing over 353 to go again. We trade to make money and always pay for our stops.
EUR/JPY and the Yen crosses against the commodity currencies of Australia and Canada will continue to present great trading opportunities for the rest of the year. For those of you who did this cross use a 118.25 stop close on 1/2 of the position and a break-even stop on the remaining 50%.
USD/JPY…Use an 81.45 stop close ( app. 122.77 futures)
Dr. Nenner has been hot with his levels so I would suggest getting on some AGU using an 86 stop close. He has put out a 103 tgt. which is pretty good risk reward. This is one of those names which is a surrogate to being long the Grains.
