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Kevin’s notes regarding RTA & GRT positions:
This is from today’s GCA issue and is provided as a courtesy to Kevin’s former RTA and GRT subscribers. For more information on Global Commodities Alert and our two new trades, please visit www.kerralert.com
Kevin’s notes regarding RTA & GRT positions:
As I mentioned, for a while until my former trading services hopefully have new editors in place I will certainly give you my brief thoughts on those positions and make suggestions on what you may want to consider doing. I highly suggest though that you consult with your broker before taking any action on those positions, these are simply my thoughts:
Sugar is rallying nicely and yet, it was clearly the right thing to cover the October 2008 Sugar calls and move into 2009, great job. Just ride the sugar wave - it is up very strong again today.
Soybeans are rallying sharply, too, and taking bean oil along with them. I would consider covering the short leg of the bean oil spread. This carries with it increased premium and some other things to be careful of so absolutely consult your broker before doing this.
I am going to consider that this position will now be simply an outright long call and no longer a spread after today. Again, consult your broker for any questions on why I am doing this and what is involved.
Orange Juice is clearly finding some support on tropical storm Fay, but this storm looks as though it will do little harm. However, another storm is already ramping up behind it. The good news here is that the shorts in the OJ market, of which there are many, may start to run for cover, lifting prices. I am going to do nothing with these OJ calls for now and may even consider adding some down here on the cheap, but a closer strike price. Again, with all of these trades be sure to talk to your broker for more detailed advice.
Gold. Had anice recovery today and I would suggest simply holding this position or considering to buy back the short leg here too, although significant costs will be added.
There will be more free updates as often as nescessary!
A quick thank you note from Kevin:
I just want to thank some of my very good friends like Ken Packard at Daniels Trading, Bob Miller at Foremost, Charlie Nedoss at Peak, and of course James Mound at James Mound Trading Group. All of these brokers have been extremely helpful in letting their clients know about GCA and assisting them in getting set up over here, and for that I am very grateful indeed. Please ask your broker to let his or her clients know too as I am sure many people are trying to find out and slots are filling up fast. Thank you for your support.
Now let’s have a great trading week! Below is the calendar for this week’s reports, as provided by JMTG, for your own commodities calendar just contact them at 1-888-744-8866 or jmound@moundreport.com.
By the way you can catch me tonight on Glenn Beck!
Yours for Resource Wealth, Kevin Kerr
SCHEDULED REPORTS
Date
Reports
Expiration & Notice Dates
08/18
Mon
4:00 PM - Crop Progress
FN: Sep Cocoa(ICE)
LT: Aug LIBOR(CME)
Aug US T-Bill(CBT)
Aug Eurodollar(CME)
OE: Aug LIBOR Options(CME)
08/19
Tue
8:30 AM - Housing Starts & Permits(Jul)
8:30 AM - Core CPI & CPI(Jul)
08/20
Wed
10:35 AM - API & DOE Energy Stats
LT: Sep Crude Oil(NYM)
OE: Sep Platinum Options((NYM)
08/21
Thu
8:30 AM - USDA Weekly Export Sales
8:30 AM - Initial Claims-Weekly
10:00 AM - Leading Indicators(Jul)
10:00 AM - Philadelphia Fed(Aug)
10:35 AM - EIA Gas Storage
4:30 PM - Money Supply
FN: Sep Coffee(ICE)
08/22
Fri
8:30 AM - Dairy Products Prices
8:30 AM - Livestock Slaughter
3:00 PM - Cold Storage
3:00 PM - Cattle On Feed
FN: Sep Crude Oil(NYM)
OE: Sep Wheat/Corn/Oats/Rice Options(CBT)
Sep US Bonds Options(CBT)
Sep Rough Rice Options(CBT)
Sep Soybeans Options(CBT)
Where to See Kevin Tonight!
Kevin will be a guest on Glenn Beck’s show on CNN tonight (Monday August 18, 2008) at 7pm, 9pm and Midnight ET
Tonight’s Topic: Energy crisis hypocrisy
When it comes to our energy crisis, Glenn thinks the Democrats in Congress and environmentalists have one thing in common…hypocrisy! He’ll tell you why tonight!
Disclaimer: Risk of loss exists in all trading. Futures Press, Inc., Kevin Kerr or its principles do not assume responsibility for errors or omissions that may occur in this report. It is the subscriber’s responsibility to verify all information through appropriate channels prior to executing any recommendations.
