Category: Trades

Stock markets around the world look set to fall further. I have been chopped out for two losses trying to catch the short side of the SP500. This week it completed the H&S top again. Since I already took two shots at this trade, I am not willing to try a third.

The Russell 2K looks set to complete a small descending triangle. I will be looking to go short with a break below 1900.

A look at world markets shows major indices have put in tops. I tried twice, unsuccessfully, to catch the short side of the Nikkei 225. The Euro stocks had  much cleaner breaks.

The developing world also shows similar tops. In order for me to become bullish on stocks again, I would need to see them re capture those former support lines. For now, I would advise to stay out of stocks. The big tech stocks look disastrous.

STOCKS
Symbol	Position	Date Position Opened	Price Position Opened		Week Closing Price	Percent Change
FCX	Long	3/2/22	47.8		46.93	-1.9%
	Total Open Profit/Loss Stocks					-1.9%
FUTURES
Symbol	Position	Date Position Opened	Price Position Opened		Week Closing Price	Percent Change
6J	Short	3/11/22	0.0086		0.008541	0.42%
ZN	Short	3/9/22	126.56		126.06	0.40%
	Total Open Profit/Loss Futures					0.82%

I am short with a stop at 0.008632 and a target of 0.0083.

Thew 10-Year completed a head and shoulder failure pattern. Stop is at 127’145 with a target of 122’105.

I found it interesting the meek rally US bonds had to the Ukraine crisis.

I am short with a stop at 4275.5 and a target of 3775.5. Today’s price action re-completed the Head and Shoulder Top. I will be looking to move my stops to a break even point very quickly. I am keeping my trades on a short leash.

At one point, I was up about $8K per contract on my copper trade. In 30 minutes, it all vanquished to zero.

Here are my open positions.

Symbol	Position	Date Position Opened	Price Position Opened		Week Closing Price	Percent Change
FCX	Long	3/2/22	47.8		50.11	4.6%
MSFT	Long	3/1/22	298		289.86	-2.8%
	Total Open Profit/Loss Stocks					1.8%
FUTURES
Symbol	Position	Date Position Opened	Price Position Opened		Week Closing Price	Percent Change
HG	Long	3/2/22	4.77		4.9185	3.11%
	Total Open Profit/Loss Futures					3.11%

Platinum and Silver look to be putting in a double bottom.

As of now, I have no intention of trading these metals. I would rather be long copper for two reasons:
1- I like to be long the leader of the pack.
2- It is breaking out to all time highs.

The rectangle pattern of 6-9 months in duration is the most reliable pattern to trade.
Notice how clear the boundaries are on the top and bottom. No out of line movements. After the breakout, a small and quick retest occurred. This one belongs in a text book of classic charting.

I did not take this trade because I would rather be long copper in the futures market.