Author: s4k

Heating oil looks set to complete a head and shoulder top or a head and shoulder failure pattern. I am willing to go either long or short depending on which way it breaks. A break above 3.72 would be a buy signal for me. A break below 3.26 would be a sell signal. I have a strong desire to be short rather than long this market. I am considering a preemptive short. It appears to me that the energy markets are putting in intermediate tops. I might have to relearn the “opinions are expensive” lesson.

Silver flashed a second sell signal on June 30th. I never took it. I thought it was another bear trap. My opinion is that silver is going higher. This is why I hate trading markets I have opinions on. Missing this trade cost my large profits.

Heating oil is forming a possible head and shoulder top. I will be looking to go short with a close below 3.37.

Leans hogs are about to complete a rectangle. I would normally be interested in going long with a close above 112.5. However, I will not have computer access from Friday to Wednesday.  It’s possible I go completely flat all markets Friday.

I did not take this trade but was very tempted.

Feeder cattle completed a head and shoulder bottom today. I will be looking to go long at the 180 mark with a stop at 178 and a target of 190. If it continues to pull away tomorrow I will cancel these orders.
Update: It missed my buy limits by 8 ticks. I pulled the orders and no interest in chasing this market.

My stops are already moved to a breakeven price.

The bond market is either making a H&S bottom or a failed H&S pattern. I will take the trade either way.

I am short soybeans (November contract) with a stop at 1410 and a target of 1250.