Position Updates & Gauges For Trading on 7/9/2015

Mish Schneider | July 8, 2015

****NOTE: CDE: All out 5.24 It closed right on the 200 DMA but with the market under so much pressure, we decided to stick to the original risk and if it holds, we can consider a re entry.

Existing Position: Long DBA 22.71 ATR: .21

Name of Instrument: PwrShsDB Ag Fd

Current Price: 22.92

****Raised Sell Stop: 22.71 with a two minute time confirm

Reason For Trade: After a long downward trend in commodities, many are basing out. DBA is a way to trade the basket of soft commodities. It is in a Recovery Phase. Risk is to the 2008 low so lots of room. Traded as high as 25.21 earlier this year. If commodities are bottoming, the upward potential is hard to predict.

****Reached: First Profit Target for ½: 23.31

***Second Profit Target for another ½ off: 23.71

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All out 5.24 Existing Position: CDE: Long 5.65 ATR .25