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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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'Over-the-top' bearishness has been my stance for several months. Recommendation for long-term short positions has been my recommendation going back to when the S&P's were still trading in the 1400's. Daily readers have had huge success day trading from the short-side of the market, and I fully expect that will continue until the 'out-of-control' crude oil calms down. Traders who are not already short should sign-up today for my daily report and find out how you can take advantage of this bearish trend. | |
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Long-term gold traders who re-entered gold around the $870 level should move up stops to $922. Finally we can stop talking about the "Brick Wall" resistance located at between $950-955; market took out this level this Fed week and closed above it. With the Fed apparently needing to 'print more money' to deal with credit issues, expect continued weakness from the US dollar and bottom fishers in that market to be wiped out this summer, boasting confidence in gold and silver.
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Feeders have had a trouble breaking through the 114 level in the August contract or 118 in the November contract, (this level has been previously highlighted for Fast Break readers), setting up short positions last week. Traders who are not short should enter at market prices in the November contract, risking to 118.30. Ideally over the next several weeks market will come back to lower standard deviation envelope.
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December corn came down last week and filled a 'gap' left several weeks ago. With Crude oil prices hitting new all-time highs this past week, it shouldn't be long until corn, and the majority of the grain complex for that matter, it follow suit. Traders can look for an option strategy to enter long.
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Last update I recommended traders to liquidate all long positions, and reverse with short positions. Nikkei, along with the majority of global indices, have been under tremendous fire lately due to energy and credit concerns. Traders who took recommendation to enter short as close to 13750 as possible should move down stops at this point to 13250, or take profits as close to 12800 level as possible.
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In the futures industry since 1996, Matt Johnson got his start working with retail clients. In 2000 he established Cytrade Financial, L.L.C., and independent introducing broker registered with the CFTC and NFA member. Matt manages the firm and offers his brokers and clients trading suggestions primarily using futures options. For more information on Matt's trading, please visit www.targetfutures.com.
