Nerves of Steel 2/26/9
One of my clients today commented on “nerves of steel” and he was right TRADERS must have nerves of steel in this environment. Moves that have typically taken weeks to months in currencies, energies, financials are now happening in just hours. Money mangement will be key to have any success this year. Energies advance significantly on OPEC rumors and a demand pick up in RBOB. We have been advisng clients to get long RBOB, crude and natural gas; contact us for details for futures and options strategy. We will be selling rallies in the Pound and buying dips in the Loonie for the next few sessions. We advised clients to get long June yen today with option spreads; 103/107, 103/110, 103/111. Grains may make another attempt on the downside, trail stops and lighten up on longs. Gold and silver on day 3 of the correction. We will be looking to slowly work our way long for clients again very shortly. In a perfect world below $12 in silver and below $900 in gold. Coffee appears to be a taking a breath before the next leg up. Start scaling into October sugar. Hogs are still trying to make up there mind, live cattle should make their way to our target next week; 87/89. The stock market must hold these levels or things could get ugly; we remain long prepared to cut losses in March futures and 800 ES calls.
Tags: coffee, commodity, crude oil, futures, gold, inflation, lean hogs, live cattle, Loonie, money management, natural gas, nerves of steel, OPEC, options, pound, RBOB, S&P, silver, spead trading, stop-loss, sugar, yen
