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| 5 Hot Picks by Eric Reinholtz of DAW Trading | |
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Eric Reinholtz is a Senior Market Strategist with DAW Trading. Mr. Reinholtz relies heavily on his expertise in charting markets for his exact entry and exit scenarios. Mr. Reinholtz’s focus targets very realistic money-making strategies more so than cryptic buy & sell signals that can get flashy publicity, but have little to do with actual portfolio alignment. He believes a professional way of approaching the markets should emphasize scaling-in during serious purges (ideally after bases are built), and scaling-out gradually into strength (ideally into extended parabolic moves), happily not worrying about "milking" the last percent out of a move
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| Complex pattern might have sent traders for a 'loop' last Friday stemming from the much stronger than expected Employment data, and the Fed making more moves to improve liquidity for banks. Traders should continue to sell into short-term rallies; exiting only if S&P June futures are able to close above 1427. Momentum to down-side could pick up with move back below 1377-1375 level. | |
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| Traders can use this recent strength establish short positions. With Crude Oil prices expected to stay well above $110 this summer, and the Fed's willingness to keep interest rates low, reality might kick in for traders. Resistance at 73.75 might be first entry point, but the more appealing level to short the market is at the 'gap' located at about 74.50. | |
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| Intriguing pattern is one that is just too hard to resist. June Gold futures have tremendous support at $850-860 level. Longer-term traders should use this area to establish long positions. Only a move back below $833-830 level should traders stop themselves out of this position. | |
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| Last week, I highlighted for traders that they should use this recent strength to sell into. Nearly pegging the high, traders should have short positions above 111.00. Friday gave traders are tremendous opportunity to take some profits when the August Feeders went all the way down to 107.20. Traders should place stops now at 110.80 and try to lock in profits on any remaining shorts. | |
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| Traders can enter short the Australian dollar as close to 93.65-93.85 as possible. Only a move above the contract high at about 94.80 should traders exit positions. Ideally, Australian will come back down to above 91.50 over the next two weeks. | |
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| 5 Hot Picks by Marc Ford of Cytrade Futures | |
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Marc Ford rose from his first job as a runner to responsibility for managing millions in assets by following one straightforward objective: "Find the best return." He honed his trading skills and knowledge of asset allocation through positions at Chase Manhattan/Chemical Bank and Man Financial. At Mizuho Securities, Marc solidified his reputation for astute market commentary and successful trading strategies to ultimately be responsible for over $25MM in institutional client assets. Marc now applies his skills in analysis, electronic technologies, and high-level trading strategies to his work with select retail clients as Chief Market Strategist for Cytrade
Financial in Chicago.
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| Buy Mini Dow futures at 12,920, sell stop at 12,860. Take profit on half your position at 12,990 and the balance at 13,096. | |
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| Let's buy some gold with our refund checks! Buy June mini gold at 852, sell stop at 843. Take initial profits at 867 and go for 878 on the remaining balance. | |
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| Sell USM at 116^20, with a buy stop at 116^30. Take profit on half at 116^04 and the balance at 115^14. Consider going long at 115^14 as well. | |
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| Buy July cotton at 69.08 with a sell stop at 68.40. Take profit on half at 70.40 and the balance at 71.40. | |
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| Sell the Dollar index at 7380, buy stop at 7430. Take profit on half at 7317 and the balance at 7280. The Dollar has traded lower for six to eight years. We don't reverse markets that quickly. | |
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