*****NOTE: Raise Trailing stop: SGG now at 31.89
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Existing Position: SLV: Long 14.62 ATR: .25
Name of Instrument: iShs Silver Trust
Current Price: 14.57
Sell Stop: 13.99
Reason For Trade: We waited for a correction down to the 100 DMA and very close to the 50 DMA with a risk far enough away or under 14.00 where lots of daily chart support points sit. The slope on the 50 DMA is neutral. There was a reversal off the new 2015 lows back on August 26th. Since then, silver has made higher lows. Long term see Silver bottomed with big potential higher if it can close on a weekly basis over 15.70.
First Profit Target: 15.59 for 1/3 off
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Existing Position: Long 1/6 position SGG: 27.32 ATR: .87
Name of Instrument: iPath Bloomberg Sugar TR ETN
Current Price: 35.58
***Raised:Trailing Stop: 31.89
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
***Reached!!!! 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: 19.51
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
