HSL / Newsletter Sample

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May 2003

•Written: May 3, 2002. Comments below concern trades from prior HSL’s only (not FMU’s).

..Sugar: (May Cx) Per HSL631, traders bought strength after pullback to Nov-Jan support. If bought/rolled over to July Cx: sell-off from 4/28 peak turning picture shorterm negative. Lighten up at mkt with final exit no lower than 1-dc below 6.85. If not stopped out, buy more on close over 7.70 for 8.10 sell target. Spec bear cue: 2-dc below 6.85. ..Soybeans: (May Cx) Traders long from 2-dc over 564^14 & again at 579^00 took full profits at 619^00 sell target . July Cx: momentum indicators temporarily overbought. Buy July if 601-609 support tested & holds. Stops no lower than 2-dc below 593. Use trailing stops to follow upside. ..Soybean Oil (May Cx) Per HSL631, traders took full profits at 22.40 profit target after buying breakout from reverse H&S base. July Cx: buy spec longs on pullback that holds on/above 21.25-21.50, &/or 2- dc over 22.11 for 23.25 sell target. Stops no lower than 1-dc below 21.00. ..Cotton: (May Cx) traders who bought strength from 56.00-57.00 support stopped out via break below 56.00. July Cx: sell short a bounce that fails below 58.00 for 54.00 sell target. Stops: 1-dc over 59.40. Next noteworthy bull cue: 2-dc over 61.00. ..DJIA: (June Cx) Per HSL631, bulls took quick profits betwn 8254&8421 after buying spec longs on strength. Traders re-bought 2-dc over 8421. Take full profits at 8860. Sept Cx: buy on continuing strength &/or on 2-dc over 8775; stops basis your dollar pain levels. Lock in shorterm profits via trailing stops. Gamblers sell a bit on 2-dc below 8150; sell again below 7920 for 7475 sell target. ..Nasdaq: (June Cx) Per HSL631, traders took full profits at 1130 after buying longs on strength. Sept Cx: buy at mkt& /or on dip that holds on/above 1100. Stops no lower than 2-dc below 1050. Mini bear cue on 2-dc below 1024, confirmed by sustained break below 960. ..S&P 500: Per HSL631, bulls took full profits in June Cx betwn 870&800 after buying strength at aprox 840. Traders bought again on 2- dc over 855 & took more profits at 925. Sept Cx: possible upwedge from 3/12 low advises caution for bulls. Re-buy only on 2-dc over 940 for possible run towards 1,000. Gamblers sell spec shorts on 1-dc below 897; again below 875 for 820 sell target. Close stops advised. ..Euro: (June Cx) Bears whipsawed for limited losses on break below 1.064 support. Bulls went long on break above 1.080 resistance &/or 2nd test that held on 1.064. Momentum indicators overbought & menacing broadening top nearing possible completion, so can’t argue against taking full/partial profits at mkt &/or tightening stops. Sept Cx: buy strength after pullback that holds on/ above 1.074-1.086 support for 1.130 sell target. Mini bear cue: 2-dc below 1.074. ..Yen (June Cx): Per HSL631, bear gamblers took full profits at .8300 after shorting at mkt. Sept Cx: Buy a pullback that holds on/above .8400, &/or 2-dc over .8506 for .8600 sell target. Buy again on 2-dc over .8605 for .8800 sell target. Stops basis your dollar pain levels. Sell short 1-dc below .8336 for .8125 sell target. Stops no higher than 1-dc over .8430. ..T-Notes: (June Cx): traders bought strength after Apr 7 dip tested & held on 113^08- 113^30 support. Move stops to breakeven, or no lower than 1-dc below Mar 21 uptrend (ie, 114^06). Take full profits at 116^00. Sept Cx: buy strength after pullback that holds on 112^31-113^11, for 115^06 sell target. Next bear cue 1-dc below 112^21. ..Gold: August Cx: breakout from bullish Mar- Apr inverted H&S base offers 355.40 sell target. Buy spec longs at mkt, &/or dip action that holds on/above 336.10
neckline. Buy again on 2-dc over 347.70 for 360 sell target.

 


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