Cotton was up 4.3% today, bringing our signal for long cotton into profitable territory. The Euro was up, taking some of our profits away from the short Euro position. Overall, both signals are profitable.
I hesitate to give the next signal to ETF traders, for the signal is VERY short-term. The average length of time in the market is only 3 days, so beware.
The historical record is 51 wins and 71 losses for 73%. Again, beware! Entry price: 1078.60 stop: 1071.60. Note: This stop may change radically overnight. An ETF is IAU; there are others as well.
Good luck to everyone.
Open Positions
Long Cotton ETF BAL: Entry Price 34.02 Stop: 34.40 Last: 35.16
Long Cotton CTH10: Entry Price: 69.82 Stop: 70.60 Last: 72.16
Short Euro ETF EOU: Entry Price 18.49 Stop: 20.19 Last: 20.08
Short Euro EUH10: Entry Price: 144.97 Stop: 138.64 Last: 137.96
Technically, the Euro ETF was stopped out, while the future was not. Suggest a new stop of 19.98 if you didn't put one in before. This is another anamoly between the futures and the ETFs.
Any views expressed herein are provided for information purposes only and should not be construed in any way as an offer, an endorsement, or inducement to invest.
The quotes and symbols used in the BLOG are believed to be reliable, but no guarantees are made with regard to the accuracy.
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