Eclectic

Doubling the long Dec Swiss Franc position today here at .85970

Now holding long from .84750 and .85970

 

Doubling the long Dec Euro FX position here at 1.41980.

Now long the Dec Euro FX from 1.38710 and 1.41980.

 

Hi B1S2,

If it's possible, could you share with us your reasoning to double up on your currency positions at this stage? To me, price seems to be so over extended, but then again...you are the master around here.

Thanks in advance.

 

Looks like it has a lot of upside potential including a bull flag on daily chart. (240 is negative)

 

Cotton update-- Still long the Dec Contract from .6005. Current price .6680. The daily chart has just now reached the OB line on the RSI. That, of course is no reason to sell it yet. I would think that we would challenge .70 and perhaps much higher. Staying long .

 

Long March 08 Sugar here at .1007. Long term hold for me on this one. At least that is the idea---

 

I see what you mean, thanks.

I believe I should have phrased my question better though. Why not wait for a pullback to add to an existing position, I was under the impression that was the correct and safest way to do so. (That is what I meant with overextended)

 

Daily chart has experienced pullback and some consolidation.

 

Cotton had some nice pullback friday didn't it? Staying long for now until the daily chart tells me to get out.

 

Currency futures are pulling back here as well. I will treat it as pullback only for now and stay long.


Added a Dec ES long at 1539.75