Thursday, June 16, 2011

New Trade - Short JO

Place an GTC sell stop order to enter short JO, a coffee etf, at 66.35. If filled place a GTC buy stop 71.57.

Commodities look close to breaking down hard out of a triangular consolidation. The next move down will probably be explosive. Hold onto the BAL/cotton short for now, and place this one on JO/coffee. I would also be keen on shorting USO or UHN with a well thought out strategy.

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