****Notes: CANCEL SLV: Buy on a buy stop at 14.96 ATR .26 Once again, prefer to give you a fresh order Monday if sets up.
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Existing Position: Long 1/3 position SGG: 27.32 ATR: .87
Name of Instrument: iPath Bloomberg Sugar TR ETN
Current Price: 33.10
***Raised:Trailing Stop: 30.89
Reason For Trade: Essentially in a downtrend since mid-2011, I have been hawking for a bottom for some time. Over 29.05 on a weekly closing basis, would be a great confirmation but for now, after a confirmed bottom formation on August 24th, we bought on the basis of a phase change to recovery. Our risk is not quite to the low of that bottom, rather under just under the high of that day since that would suggest the bottom will not hold.
***First Target: Sold 1/3 30.49.
***REACHED Second Target sold 1/3 of the original position size: 31.62
Third Target to sell ½ of existing position: 34.47
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New Position: JO: Long 19.48 ATR: .54
Name of Instrument: iPath Blmbrg Coffee TR ETN
Current Price: 19.58
Sell Stop: 18.44
Reason For Trade: A very different trade, we are not buying on the basis of a phase change as it is currently trading under the 50 DMA. However, we are looking at a possible double bottom for 2015 with a stop under the recent lows.
First target to sell ½: 21.47 with the typical flexibility based on market conditions
