Time has once again become a very precious commodity and once I have more of it then I will finish the futures blog.
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Short March Coffee is a new recommendation and one I have yet to act upon.
It looks poised to make a move sharply lower with sell signals across the board and a very
large bearish spread between the Commercial Traders and the Small Speculators.
No question it is worth a look!
We remain short March Corn with a Buy Stop at 470 2/8 on a closing basis only.
Corn looks to have put in a swing high and this trade should begin to move in our
favor rather quickly if it is correct.
The Protective Stop is very close to our initial position so risk is very limited on this trade.
We continue to hold Long Feb. Hogs with a sell stop at 56 cents even on a closing basis only.This trade is on a shoestring right now as we are very close to our protective stop price.
However, much like the corn trade, the stop was put very close to the initial position so risk
is very limited.
We remain short March Cotton with what appears to be a very strong probability of a swing high of some significance having been put into place.
Cotton offers the best Risk to Reward ratio out of all the positions currently held, so if you have yet to put the trade on, you still have time to put a line together.
*********************************************************************************REMEMBER TO ALWAYS TRADE WITH PROTECTIVE STOPS.
THERE IS NOTHING WRONG WITH BEING INCORRECT ON YOUR ANALYSIS, BUT THERE IS SOMETHING WRONG IF YOU DO NOT HAVE SAFEGUARDS PUT INTO PLACE FOR JUST SUCH AN OCCURRENCE.
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