I rarely go bottom hunting but I believe Platinum is forming a rectangle that will break to the upside. I have my buy orders at 925 with a stop at 890. I plan to hold these for at least all of next week.
Long The Nikkei 225
The Nikkei broke out of its channel. I am long with a stop at 32750 and a target of 35000.
Positions Going Into Next Week
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 |
|
6B | Short | 9/5/23 | 1.2553 | 1.2464 | 0.71% | |
LE | Long | 9/7/23 | 191.5 | 191 | -0.26% | |
Total Open Profit/Loss Futures | 0.71% |
Long Live Cattle
I am long with a stop at 190 and a target of 196.
Oil Update
I pulled my crude buy orders. The market pulled away without me. I might consider going long on a pull back to the 83.5 level.
Head and Shoulder Top for the British Pound
The Pound appears to put in a top. Stop is at 1.27 with a target of 1.21. The right shoulder is a little dragged out and sloppy, but the commercials are the shortest they have been in a long time.
Positions Going Into Week
STOCKS | ||||||
Symbol | Position | Date Position Opened |
Price Position Opened |
Week Closing Price |
Percent Change |
|
N/A | ||||||
Total Open Profit/Loss Stocks | 0.00% | |||||
FUTURES | ||||||
Symbol | Position | Date Position Opened |
Price Position Opened |
Week Closing Price |
Percent Change |
|
ES | Long | 8/30/23 | 4570 | 4573.5 | 0.08% | |
Total Open Profit/Loss Futures | 0.08% |
Possible Trades
I will be looking to go long the December contract of crude with a pull back to the 83 level. My stop would be at 80 with a target of 95. My orders for this market are working.
The Nikkei looks to be making a bull flag. I am considering a long position depending on how it breaks out to the upside. No working orders yet.
Long SP500
The SP500 completed a head and shoulder failure pattern. I am long with a stop at 4500 and a target of 4860.
Short SOFR
I am short the December 2024 contract with a stop at 95.88 and a target of 95.