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Hello Everyone,
It's shaping up to be an interesting week.
Grains:
My indicators are going off the map. Strong indication of major move
in the grains within 3-5 days. If Soybeans can close above 690 a
major up-move may be in the offing.
OPTION STRADDLES indicated. If the market breaks to the downside, take
profit on the puts. If the market breaks to the upside, turn the trade
into a "free trade" by selling higher calls. Liquidate the puts on any
pullbacks.
Tropicals:
Coffee looks like it's ready to go. :) I'm looking for a short, sharp
break to the downside followed by continuing higher prices.
Option Long Strangles indicated. If market trades down, take profit on
puts. If market trades up, turn calls into "free trades".
Sugar should be ready to move now. Option Straddles indicated.
Cocoa is winding itself into an explosive technical pattern. I will
be watching closely over the next two weeks.
Currencies:
Interesting divergence here. A war of fundamentals vs. technicals.
The technicals all say short term up, and the fundamentals all say
down. NO TRADE
Metals:
GREAT TIME for Silver ratio spreads. (Buy OTM calls, and SELL way out
of the money calls at a credit)
Energies:
Natural Gas is ready to rock. Bull ITM Debit spreads protect the
trader from higher option vol while waiting for the breakout to the
upside. I like the fact that so many people are ignoring this market
in favor of HU, HO and CL . Traders will be caught napping.
(BULL ITM DEBIT: Buy ITM calls, and Sell OTM calls )
Well, have fun everyone. :)
Walt Downs
CIS Trading
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