Commodities Essential - November 23, 2011

Alert: protect some open gains. 


Let’s adjust our stop-losses on all positions …


 


Technically and fundamentally, the bearishness continues. And that is good for our positions — the underlying commodities should continue to fall and prop up our positions with profits. But being that it is a four-day Thanksgiving weekend in the US, policymakers may slip through some feel-good maneuver that could turn sentiment around in the near-term. Let’s protect against that potentiality …


 


These stop-loss adjustments I am recommending are only locking in small gains, as I would like to give these positions a little room to breath. You may personally consider tighter stops to protect a larger portion of open gains. But I think we could see commodity prices fall very sharply in the next couple of trading sessions and want to stay positioned for that.


 


 


******


 


Trade Essentials.


 


 


ZSL (Last Price: $13.25)


 


CANCEL AND REPLACE your order to SELL ALL your shares of PowerShares Silver Double Short ETN, symbol ZSL, at $11.59, STOP. NEW PRICE: $12, STOP; this order is good till cancelled. 


 


 


DTO (Last Price: $44.25)


 


CANCEL AND REPLACE your order to SELL ALL your shares of PowerShares Crude Oil Double Short ETN, symbol DTO, at $38.95, STOP. NEW PRICE: $41.79, STOP; this order is good till cancelled. 


 


  


BOM (Last Price: $14.95)


 


CANCEL AND REPLACE your order to SELL ALL your shares of PowerShares Base Metals Double Short ETN, symbol BOM, at $12, STOP. NEW PRICE: $14, STOP; this order is good till cancelled.