It tuns out that my December 07 Eurodollar trade was a very brief trade. My stop loss got hit this morning. I got stopped out at exactly 69.72. So my loss on this trade before commissions was 5 points or $125.oo. I probably should have had a higher stop loss, but I really didn't want to risk much on this trade.
Looking ahead, it looks as if October 2007 Sugar may be finally getting close to breaking out and closing above the top of the channel that prices have been in for so long. October 2007 Sugar was up 9 cents today and ended up closing today at 9.75. I'm looking for a close above 9.83 as the signal to get long on October Sugar.
The other trade that I am considering is September Soybean Oil. Prices closed yesterday above the previous contract high of 38.08 so that is a signal to go long in this market. Trend Seeker says the trend is up. Looking at the weekly chart, it looks like prices could go as high at 40 so I'm looking at a potential profit of $1140.
To take a look at all of my completed trades, please go to www.mylearn2trade.com.
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