[Posted Dec 8 at Rick’s Picks]
Any short attempted from the 6109.00 rally target we were using would have made money, even if tightly stopped, since the futures fell 20 points after topping on Friday at 6111.00. I did not establish a tracking position, however, because no one mentioned having done the trade. Now, if buyers close this gas-bag above 6111.00 for two consecutive days, expect more upside to the 6219.00 target shown in the thumbnail chart. Trade with a bullish bias until such time as the target is reached, then use a 49.50-point trigger interval to tell you when to get short. A ‘camouflage’ trigger will be necessary since conventional-entry risk would be $10,000 on four contracts.
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Rick Ackerman