Category: Trades

Position Update

I was stopped out of the 30-Year for a loss. I may have been premature on going long. I will take one more shot at this trade on another breakout.

My feeder cattle stops have been moved to 179.925.

Positions Going Into Weekend

STOCKS
Symbol Position Date
Position
Opened		 Price
Position
Opened		 Week
Closing
Price		 Percent
Change
Total Open Profit/Loss Stocks
FUTURES
Symbol Position Date
Position
Opened		 Price
Position
Opened		 Week
Closing
Price		 Percent
Change
GEM26 Long 7/22/22 97.305 97.305 0.00%
GF Long 7/20/22 181 184.68 2.03%
ZB Long 7/22/22 142.84375 142.5 -0.24%
Total Open Profit/Loss Futures 1.8%

Long Euro Dollars

I am long the June 2026 contract of Euro Dollars. Stop is at 97.11 with a target of 98.01.

I will also be looking to go long the 30-year once a breakout occurs.

Interest rates may have put in a intermediate top.

Observations on US Stocks

US stocks might be finding a intermediate bottom here. I have no interest in being long or short any US stocks right now. Some of blue chips show signs of a bottom. This is just an observation. Observations are not positions. Some of these patterns are reversal ascending triangles. The others show falling wedge patterns. I rarely trade these patterns.  Reversal ascending triangles need to be at least 8 weeks long for me to consider. Falling wedges incorporate two things I hate: Trading diagonal patterns and trading against the trend.

Heating Oil

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- Opinions are Expensive

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.