Category: Trades

Congratulations to those still long wheat. I bailed out of KC wheat at 935. My long wheat position will probably be my largest gain for the year. Chicago Wheat opened last night limit up again with no sellers in sight. Now, a crop of permabulls have appeared overnight in the grain markets telling people to buy and hold. I have traded the grain markets for over 10 years and have successfully navigated bull and bear markets. Now is the time you should be selling and looking for an exit. This market is going to turn. You will have limit down days and won’t be able to exit the market. I am not saying this is a top. It could possibly double from here. WW III could start and it might triple for all I know. I am just saying that getting stuck on the other side of this trade can blow up your account. There is far too much euphoria around the commodity markets. This is a sign that we should take our profits.

Being a successful commodity trader is about risk management. My primary goal is to protect my capital.

Given the volatility, I intend to bleed the risk from this trade as much as possible. I want to get my stops to a break even point very quickly. My concern with this trade is a gap down come the open on Sunday night.

I obviously left thousands of dollars on the table by exiting the wheat market to early. I have no idea when this market will turn. I just know it will take the escalator down. Being on the wrong side of grain movements like this are a nightmare. I am glad I booked my profits. I would rather be an observer in markets like this.

Copper completed a symmetrical triangle this morning. I am long with a stop at 4.67 and a target of 5.6.

I have buy limits at the 47 level. I plan to go long on open. Stop is at 44 with a target of 65.
Update: I am long with a stop at 44.8.

The wheat markets are switching between limit up days and limit down days. I exited my long position in KC wheat last week for a nice profit. Trying to trade a market like this can blow up your account. When something like this happens in the grains, generally, higher prices are coming. I prefer to be an observer for markets like this.

I took a very small long position. Stop is at 280 with a target of 415. A break above 320 and I will increase my long position.

Possible head and shoulder failure pattern forming. I would be interested in going long with a break above 318. Its rally from the H&S neckline is not bearish price action. I could be US stocks put in a bottom last week.

I had a feeling this was coming. Chicago wheat was down over 8% today.

Closed out the Canadian Dollar trade for a small loss. Just holding one position: Short Eurodollars.

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
GEZ24	Short	1/5/22	98.115		97.83	0.29%
	Total Open Profit/Loss Futures					0.29%