Commodities Essential - May 3, 2011

Lots going on: what does it mean for open positions?


Osama bin Laden is dead and everyone is curious of the market implications. But more than likely this fades from view as we’re approaching crunch time for QE2 and Federal Reserve expectations. Might we be watching equities put in a top this week? Whatever is happening, I recommend making a handful of adjustments to open positions …


Commodities Essential. 3 May 2011


Trade Essentials.


Ok. Pay attention - we’ve got a lot of housekeeping to do today:


 First, adjust stop-loss on IAU


IAU (Last Price: $14.99)


CANCEL and REPLACE your order to “SELL ALL your shares of iShares Gold Trust, symbol IAU, at $12.50, STOP.” NEW PRICE: $13.95.


Second, adjust stop-loss on URA


URA (Last Price: $14.38)


CANCEL and REPLACE your order to “SELL ALL your shares of Global X Uranium Fund, symbol URA, at $13, STOP.” NEW PRICE: $14.


Third, exit DAG and add CORN


DAG (Last Price: $14.36)


SELL ALL your shares of DB Agriculture Double Long Fund, symbol DAG, at the market. Cancel any remaining stop-loss orders.


CORN (Last Price: $45.66)


Buy shares of Teucrium Corn Fund, symbol CORN, at the market. Then place an order to sell all your shares of Teucrium Corn Fund, symbol CORN, at $40, STOP; this order is good till cancelled.


Fourth, exit PT


PT (Last Price: $55.04) 


SELL ALL your shares of Potash Corp, symbol PT, at the market. Cancel any remaining stop-loss orders.