Let Them Ride

Most of our ongoing campaigns seem to have survived the weekend and I very much hope so you have you. Now before you read on make sure to catch up on my Sunday update featuring this week’s top and bottom performing stock symbols, historically speaking of course as my crystal ball is still in the shop. Incidentally last week’s picks did very well adding 10.77% to the win side. Alright, let’s review where we are:

Let’s start with Forex first. NZD/USD seems to be on a roll here but for now we’re leaving our trailing stop intact at 0.75R. At minimum I recommend that you keep it < the spike low near 0.717.

AUD/USD almost got stopped out but at least on my end it’s still in the running. I’m saying this because forex spreads can vary wildly from one provider to the next. Obviously there’s nothing to do here, if it survives the fine – otherwise we’ll be locking in about 0.75R in profits.

On the futures side we have crude which finally seems to be ready to run. We’ve been waiting a long time for this and maybe this has been the one that pays for all the annoyance of the past months (although we usually managed to eke out a bit of coin). Trail now at 1R or if counting from the very highs it would be about -0.8R MFE).

Natgas lived up to its name as the ‘old widow maker’ and stopped us out at 0.5R. Bummer, but I am actually thinking of re-entering once I see a decent spike low followed by a retest.

10-year bonds – nothing really to say or do here. Trail remains  at 1.25R and we’re hoping for the best. The configuration continues to look very positive but now needs to get out of the gate.

Kept the best for last – soybeans! What a beauty and apparently it’s not done just yet. Our trail remains at ~1.25R – maybe it’ll manage to get to the upper 100-day BB before devolving into a shake out.

Bottom Line:

Let those winners ride, folks! Especially when it comes to trend trading candidates it is crucial that your campaign management allows for enough breathing room in the early phases of a ramp higher. It’s not unusual to see a sideways day or two after an explosion higher, so stick with your guns and kick e’m with those spurs!

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