We had an excellent day today thanks to Cocoa (CC) trading lower by 2% and our Orange Juice (OJ) moving higher by 2.7%. These are the kind of days that show how important it is to trade commodity markets, as they provide great long/short setups. Please note, our OJ position hit our upside profit target today. As such, we’ll be moving our trailing stop order up as the market trades higher from here. Also, as we highlighted in our blog post yesterday, we got long ES with the anticipation of the market drifting higher over the next few weeks.
As for new trade setups, we’re looking to get short Cotton (CT) on weakness tomorrow.
Have a great evening!
NEW ORDERS:
| TICK | L/S | ORDER | $ ENTRY | $ STOP |
|---|---|---|---|---|
| CT | Short | DAY-STP LMT | 84.98 | 89.78 |