Category: Trades

I am long on the retest. I have a tight stop set at 0.7891 with a target of 0.812.
Update: Already stopped out.

Wheat completed a bullish wedge today. I may go long with a pull back to the 810 level.

My long Soybean Oil position got filled today (December Contract). Stop is at 58.3 with a target of 65.

My Russell 2K stops have been moved to a break even point.

Price action in US stocks today makes me more cautious.

I have open buy limits in Soybean Oil not shown below.

STOCKS
Symbol	Position	Date Position Opened	Price Position Opened		Week Closing Price	Percent Change
	Total Open Profit/Loss Stocks					0.0%
FUTURES
Symbol	Position	Date Position Opened	Price Position Opened		Week Closing Price	Percent Change
6C	Long	1/11/22	0.794		0.7979	0.50%
GEZ24	Short	1/5/22	98.115		98	0.12%
RTY	Short	1/19/21	2071		2040	1.50%
SI	Long	1/6/22	22.02		24.5	11.26%
	Total Open Profit/Loss Futures					13.4%

Netflix gaped down $100 this morning. This is the risk of owning stocks going into an earnings release.
I took two long positions last year in NFLX. The first one was a false breakout and I got stopped out for a loss. The second breakout, I caught a nice upswing and closed out for a nice profit at 680. It than formed a double top along with a H&S top. A few warning signs were available using classic technical analysis. I have been caught on the wrong side of an earnings release many times. They are never pleasant.

US markets look heavy.
The SP500 shows a wedge.

The NASDAQ shows a double top.

The worst chart is the Russell 2K, which I am short.

A sell off going into the weekend would be a warning sign that a much larger correction is coming.
I don’t think this is ‘the top’. It may be ‘a top’. I do not believe that the US bull market is over. US markets may go sideways to downward for a while.

I have buy limits at 58.3 for the December 22 contract.

I got stopped out of the head and shoulder pattern last week for a loss, just barely, only to have it rocket higher this week.
On the long term continuation chart, it broke out of its descending triangle.

In my experience, these descending triangles after a big run up are usually reversal patterns. However, they can be traded as continuation patterns on a breakout.
An example would be Facebook. I gave thought to going long FB on last years breakout.

I have closed out AFL for a profit. It got close enough to the target.

I closed out TRV for a loss.

The small caps breaking down from its major support is a warning sign for me to stay clear of stocks until the dust settles.

I have flipped my long and now short. Stop is at 2110 with a target of 1850.

This is more likely a bear trap. I have a small short position.

List of open positions going into next week listed below.

STOCKS
Symbol	Position	Date Position Opened	Price Position Opened		Week Closing Price	Percent Change
AFL	Long	12/28/21	58.55		64.06	8.6%
TRV	Long	1/7/22	165.4		163.21	-1.3%
	Total Open Profit/Loss Stocks					7.3%
FUTURES
Symbol	Position	Date Position Opened	Price Position Opened		Week Closing Price	Percent Change
6C	Long	1/11/22	0.794		0.79685	0.37%
6E	Long	1/12/22	1.1423		1.1429	0.06%
6Z	Long	1/12/22	0.0645		0.0645	0.04%
GEZ24	Short	1/5/22	98.115		97.96	0.16%
RTY	Long	1/14/22	2125		2161.9	1.74%
SI	Long	1/6/22	22.02		22.98	4.36%
	Total Open Profit/Loss Futures					6.7%