I took a very small long position in the Russell 2K. It is approaching its long term support level. Stop is at 2075 with a target of 2400. In my experience, patterns like this are not tops but rather continuation patterns.
Category: Trades
Euro Update
I think the Euro has made its low for the year. I do not believe it will see below 1.12 for a while. I am going to be a little less aggressive with moving up my stops. If it reaches its target of 1.16, I will take 50% profit and let the other half ride as long as possible.
Long the South African Rand
I am long the SA Rand with a stop at 0.06375 and a target of 0.067.
Long the Euro
I am long the Euro with a stop at 1.1369 and a target of 1.16.
Long Copper
I am long with a stop at 4.5 and a target of 4.8.
Long Canadian Dollar
The Canadian Dollar completed a Head and Shoulder Bottom today. I am long with a stop at 0.78855 and a target of 0.81245.
NASDAQ
The NASDAQ is possibly putting in a small top. I have a small short position opened. Stop is at 15666 with a target of 14400.
Long term the bull is still intact. I will be very quick to move up my stops.
Long TRV
I am long with a stop at 160 and a target of 185.
Reward to Risk Ratio
My reward to risk ratio is always at least 3. I aggressively move up stops to a break even point to limit my account draw downs. I really only need about 2 out of 10 trades to complete in order to be profitable.
| STOCKS | |||||
| Symbol | Position | Reward/ Risk |
Dollar Amount Reward |
Dollar Amount Risk |
Stops to Break Even? |
| AFL | Long | 5.12 | $7,740.00 | $0.00 | Yes |
| CME | Long | 4.50 | $5,400.00 | ($1,200.00) | No |
| Total | $13,140.00 | ($1,200.00) | |||
| FUTURES | |||||
| Symbol | Position | Reward/ Risk |
Dollar Amount Reward |
Dollar Amount Risk |
Stops to Break Even? |
| 6J | Short | 7.54 | $15,450.00 | $0.00 | Yes |
| GEZ24 | Short | 4.85 | $6,550.00 | $0.00 | Yes |
| KE | Short | 6.57 | $20,000.00 | ($3,000.00) | No |
| SI | Long | 3 | $6,000.00 | ($2,000.00) | No |
| ZL | Long | 6.00 | $14,400.00 | ($2,400.00) | No |
| Total | $62,400.00 | ($7,750.00) | |||
Positions Going Into Weekend
Here is my list.
| STOCKS | ||||||
| Symbol | Position | Date Position Opened |
Price Position Opened |
Week Closing Price |
Percent Change |
|
| AFL | Long | 12/28/21 | 58.55 | 62.22 | 5.9% | |
| CME | Long | 12/8/21 | 232.5 | 224.8 | -3.4% | |
| Total Open Profit/Loss Stocks | 2.5% | |||||
| FUTURES | ||||||
| Symbol | Position | Date Position Opened |
Price Position Opened |
Week Closing Price |
Percent Change |
|
| 6J | Short | 12/29/21 | 0.0087 | 0.008653 | 0.65% | |
| GEZ24 | Short | 1/5/22 | 98.155 | 97.99 | 0.17% | |
| KE | Short | 1/7/22 | 773.5 | 771.75 | 0.23% | |
| SI | Long | 1/6/22 | 22.02 | 22.36 | 1.54% | |
| ZL | Long | 1/5/22 | 58.84 | 58.55 | -0.49% | |
| Total Open Profit/Loss Futures | 2.1% | |||||