Pre-Memorial Day Freebies
Let’s face it – most of you guys are pretty much outta here, and I myself am planning on taking Friday off. So for whoever is still left I’ll throw out a few juicy pre-Memorial Day freebies. Caveat – unless they start moving in the coming few hours I recommend you wrap them up or put your stop at break/even.
Spoos – if you still find them near that stack of Net-ines then a long position may be in order. I’m long here 1/2R with a stop below the daily NLBL at 2113.25.
EUR/USD – ya’ll know I hate this trade but I’ll take it anyway. If that 25-day SMA gives way then we’ll probably retest the lows. Don’t think that’s happening just yet during the long weekend (yes, Forex will be trading Monday).
Wheat long near 515 with a stop below 510.
Soybeans – grabbing a long here with a stop below 936.5. It’s soft support really – 1/2R only.
Gold! Very speculative long position here – 1/4R only. On a drop below 1202 we’ll probably retest 1195.
That’s it – see you later this afternoon. Now keep it cool and frosty and don’t get too crazy playing the swings. Remember, we’re going to see increasingly diminishing participation starting today – not that we saw a lot of it yesterday, except for that fake out spike to the upside.
You are not paranoid – they ARE out to get ya – watch your six! 😉
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