****NOTE: XHB: Out of Position 36.83
***NOTE: Lowered profit target DBS
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***OUT 36.83 Existing Position: Long XHB 36.67 ATR .43
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Existing Position: Long DBA 22.71 ATR: .21
Name of Instrument: PwrShsDB Ag Fd
Current Price: 22.82
Sell Stop: 21.49 Long term trade
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.
***Lowered: First Profit Target for ½: 23.31
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New Position: Long DBC: 17.63 ATR .21
Name of Instrument: DB Commodity Index Tracking Fund
Current Price: 17.62
Sell Stop: 17.24 with 2 minute time confirm
Reason For Trade: Besides an overall long term friendly bias to the notion of commodities basing out as we get into the second half of 2015, DBC had a reversal pattern on June 5th and is holding that level giving us a very good risk. Although not a phase change, I like the 2 ATR risk to probe that a bottom is indeed in place and that if this clears 17.90-18.00, we are well situated.
First Profit target for ½ off: 18.20
