Position Updates and Gauges for Trading on 5/6/2015

Mish Schneider | May 6, 2015

****NOTE: DBC has 2 ATRs so we go to a no loss stop-putting it a wee bit better now 18.07

***RSX-Raise Trailing stop now to 19.67

***SODA: Exited ahead of earnings: 19.30


New Position: AFL: Long 64.18 ATR .97

Name of Instrument: Aflac Inc

Current Price: 63.73

Sell Stop: 62.07 with time confirm or about 2 ATRs

Reason For Trade: After solid earnings and as a 2015 pick, AFL has confirmed back to a bullish phase after clearing the 65 week moving average earlier this year. The all-time high for AFL was in April 2008 at 68.81 with a good breakout over 60.00 back at the end of February. Our initial stop gives it room, but we can raise it up under the low of day of entry under 63.00 if market continues to sell off.

First Profit Target: 67.07 market if touched for ½ off

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Existing Position: DBC: Long at 18.03 ATR .21

Name of Instrument: DB Commodity Index Tracking Fund

Current Price: 18.41

***Trailing Stop now that we have 2 ATRs: 18.07 with 2 minute time confirm

Reason For Trade: In a Recovery Phase after a bottoming pattern developed on March 18th. Clearing the 10 and 100 DMAs as well with a measured move to around 19.40 should this clear over 18.40, which would be highest close for 2015. On a monthly chart, 2009 low was 17.94 which it is trading above. That could mean the overall bottom is in place.

First Profit Target: ½ off 18.67

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****Existing Position: SODA: Long full position 19.88 ATR .82

**Reports May 6th BEFORE OPEN

***EXITED: 19.30


Existing Position: RSX Long ½ 17.26 ATR: .50

Name of Instrument: RSX Daily Market Vectors-Russia

Current Price: 20.22

****Raised Trailing Stop: 19.67 with a 2 minute time confirm

Reason For Trade: After basing throughout December 2014 into February 2015, it had a phase change to recovery, corrected and crossed back over the 50 DMA again, only this time with a positive slop. The buy stop triggered was because it also cleared the 100 DMA. Our stop is under the 50 DMA with a great risk/reward potential to 20.75 or higher

***FILLED!! First Profit Target: 18.67 for ½ off

***FILLED!! Second Profit target: 19.74 for another ½

***Third Profit Target: 20.74 for another ½ of balance left

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