Richard L Weissman
We posted our recommendation to buy November CME Group Soybeans at $15.25 or better after the October 10th close and I’m guessing that gave everyone a chance to buy the 6 PM EST night session open of $15.23. Obviously the report helped our position and we settled at $15.48 ½. Although we failed to achieve my goal price of $15.75 for raising our stops to breakeven level, we did hit $15.68 which is close enough for me. Consequently I’m recommending that readers raise stops to $15.25 ½. Our first initial profit target remains $16.12 area.
Richard L. Weissman is a professional trader with over twenty years’ experience. He has provided private consultations and training to traders and risk managers for over fifteen years. He currently serves as a Senior Associate with the Energy Management Institute (www.emi.org), where he teaches trading and risk courses, which are co-sponsored by CME Group and the IntercontinentalExchange. In addition, he is editor-in-chief of Weissman Signals Inc. (www.weissmansignals.com), a newsletter covering the ETF, futures, and cash foreign exchange markets. Weissman’s first book, Mechanical Trading Systems: Pairing Trader Psychology with Technical Analysis, was published by John Wiley & Sons in 2004. His second book, Trade Like a Casino: Find Your Edge, Manage Risk and Win Like the House, was selected as a Finalist for the Technical Analyst 2012 Book of the Year Award.