Off To The Races

Happy tax day to everyone! While the boyz are running over stops and slow moving senior citizens in equities it’s time for us to revisit some of the trades I’ve been proposing in the last week:

First up my trusted FX favorites grid. I suggested short opportunities on the EUR/JPY, AUD/JPY, NZD/USD, EUR/USD, USD/JPY, and AUD/USD. Let’s look how those trades fared:

Winners: EUR/JPY, USD/JPY, AUD/JPY, and AUD/USD (tiny profit)

Losers: EUR/USD, NZD/USD

Four winners and two stop outs – I must be losing my touch.

Next we have crude, which I rarely trade (USO is an alternative ETF). A few days ago we touched that 106 mark and thus a possible support level based on my long term channel. And surely enough – after scaring the weak hands it bounced higher and I’m about to take profits.

Now, if you could have afforded 29 bucks a month you could have ridden the coattails and this and many other winning trades I have been posting here in the past few months. Unfortunately the majority of financial blog nomads seem to be averse to actually banking coin and instead spend their time and energy reading ZH doomsday pieces (i.e. bear p0rn) or discussing the perils of being a grizzly in hibernation over on the blog that shall not be named. If you are one of those individuals – well, frankly I cannot help you, please move on. But you before you do please console yourself by knowing that you are providing an essential service to all of us by taking the other side of our trades. Good for you! I mean – for us!

Now on to another juicy commodities setup that’s currently in the making:
[amprotect=nonmember] Charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
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You guys may remember this chart. A little over a week ago copper was testing that support line on my flag and after a bounce higher we now dropped back to it. It’s looking bearish for copper right now – however there is support looming below at 4.2 and about 4.0 by the time prices may reach that lower 100-day BB line. I am playing this short with a stop above today’s highs. If I get taken out I’ll be long hoping for a ride back up to 4.6.

Should be fun either way 😉

Cheers,

Mole