Good morning folks,
This is for those who read & follow the blogs. Last Friday I posted several trade ideas. Here is a summary.
A.) Sell OTM put options in Macy's (M) Advanced Micro Devices (AMD) and DIsney (DIS).
B.) Buy Motorola (MOT) I stated to Look to enter a long around 6.60 - 6.80 range use 6.42 as a stop. Upside objective: 7.15 then 7.50.
C.) Take profits on FXE calls and look to exit the FXB calls around 3.20.
D.) Looking to go long July Crude Oil if we trade near the 68.30 level using 67.10 as my stop.
Monday On Trading views Web-TV I reiterated these ideas. I also followed up on the last blog to move stops to break even or to exit with a profit on that crude oil trade. Crude oil is now at 74.00, if you had your stop at 68.30 (break even level) please move it up to at least 72.80. That is as of May 27th at 10:12 AM (CT). In fact, I would use a limit order to liquidate the entire position near 74.65 or get out before the holiday weekend.
This has beeen an outstanding week so far us so far and hopefully you as well. So here's the deal on the rest of the trade ideas, as for the stoock option positions, if the put options devalue by at least 50% take the money and run. Also, Keep the primary profit target in mind on (MOT) at 7.15 and hold your stops in place at 6.42.
Seasonally speaking we are looking for a sell in Silver and Coffee. The weekly resistance targets for Silver are 18.50-18.63 level, and for coffee it is 135.70. Currently we are trading near weekly resistance in Silver but we do NOT have confirmation yet to pull the trigger! The same goes for Coffee. Due to the Holiday I will not be back on Trading views webcast TV until June 7th!
In the mean time, have a great holiday weekend, I hope my insights have at least helped you!
All the best,
John Person
Past performance is not necessarily indicative of future performance. This report includes information from sources believed to be reliable but no independent verification has been made and we do not guarantee its accuracy or completeness. Opinions expressed are subject to change without notice. This report cannot be construed as a request to engage in any transaction involving the purchase or sale of a futures contract and/or commodity option thereon. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
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