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Looking To Buy More Cotton


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Cotton Futures--- Cotton futures in the March contract are down 50 points this Monday afternoon in New York today reversing some of the sharp gains we witnessed in last weeks trade as I have been recommending a bullish position from around 70.50 level and if you took the trade continue to place the stop loss under the 2 week low standing at 68.62 as that will also be raised come Thursday as the chart structure will improve on a daily basis.

Profit-taking was to blame in today's action as cotton was in what they call overbought territory as I still remain bullish as I think higher prices are head & think we will retest the contract high that was hit a couple months back around the 74 level so continue to place the proper stop loss and if you're not involved in this market wait for some type of price decline before entering therefore reducing the risk as cotton is very highly volatile commodity.

Prices are trading above their 20 & 100 day moving average telling you that the short-term trend is higher as I will be looking at recommending another bullish position later in the week as I like adding to winners and exiting losers as quickly as possible so keep a close eye on this market as we could be involved once again soon.

TREND: HIGHER

CHART STRUCTURE: SOLID

VOLATILITY---INCREASING

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

Skype Address: mseery TWITTER---@seeryfutures

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Email: mseery@seeryfutures.com

If youre looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.



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About the author


Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
 
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
 
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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