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Thanks for sharing your trades with us. Info like this is very informative
as traders insight, analysis and reasons for putting on a particular trade
gives readers an opportunity to look at that market more closely and
compare analysis. This kind of post is a lot better than the usual squabbles
we have been having recently.
Personally I have been looking at CD and still think there is more upside.
Will be going long on Tuesday if conditions are right. The Crude I am a bit
worried of as London Brent was down on Friday. You might be in for a choppy,
probably profitable ride.
POP
-----Original Message-----
From: Kevin Morgan <kmorgan@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: 04 September 1998 17:05
Subject: FUT: BO8Z, CL8V, CD8Z trades
>RT'rs:
>
> I've entered into 7 positions in the last few days. My basic reasons
> and current management approach to three of them are below. I'm
interested
> in any feedback/insights into how you might manage these trades.
>
> 1. BO8Z, long 2 contracts, one entered several trade days ago at 2430
> via market order, one entered two days ago via a stop buy at 2413.
> Current price: 2459.
>
> Reason for entry: strong comparative strength of BO versus rest of
> grain complex, net long commercials, bearish public sentiment,
> and a bottom structure that indicates "trend change".
>
> Stop: 2352, a little below recent lows. Violation of these lows
> violates my hypothesis of an intermediate term trend change from
> down to up.
>
> Profit exit strategy: I'm going to trail stops for now. I'm looking
> for a largish up move in BO, and I'll take some oscillation in
> the interim to get it.
>
>
> 2. CL8V, long 1 contract, entered via a stop buy at 13.82, filled at
> 14.03 (gap open yesterday). Current price: 14.59.
>
> Reason for entry: bottoming action in CL, stop placed above downtrend
> line, entry could/should signal at least short term trend change.
>
> Stop: 13.94 (for Friday; haven't decided yet for Monday), any
turnaround
> back through the low of Thursday's breakout would indicate the break
> is false, and since I get in close to the low, this is a very small
> exposure for my position.
>
> Profit exit strategy: haven't decided yet; a quick glance at today's
> action doesn't clarify it for me, either. I might shoot for a quick
> profit high up in today's range, and look to reenter later after
> a pull back, or I may try to ride this as a more significant
> trend change for a while. Suggestions?
>
> 3. CD8Z, long 1 contract, entered via a stop buy that was positioned at
> 6454 (or thereabouts, I forgot exactly), and got filled at 6555
> a few days ago on the huge gap up open. Horrendous fill! Now
> the price has rallied up to my entry (.6558 as of Friday's close).
> What to do now? How much upside does CD have? My stop on Friday
> was set at .6472; I've been putting it right under the recent small
> up days lows, because I'm been very concerned this thing is going
> to start dropping through the floor again, and I want out at the
> first sign of trouble. Today's been good to me. Any suggestions
> on how to manage it from here?
>
>Thanks traders,
>
>-k
>
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