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WEAT Final Target Hit for an 11.4% Beta-Adjusted Gain

The WEAT (Wheat ETN) swing trade has hit the final target, T3 at 7.70, for a 9.5% gain or 11.44% beta-adjusted gain. WEAT was added as a Long Swing Trade at 7.03 on June 9th with a suggested beta-adjustment of 1.2 (20% above a typical position size) due to the relative low volatility in wheat prices.

While the charts on $WHEAT/WEAT remain constructive for a longer-term trade as wheat prices may have bottomed, the odds for a reaction around this resistance level is decent so T3 will remain the final target on this trade with WEAT being moved to the Completed Trades category at this time. Those still long WEAT or wheat futures that plan hold out for additional gains might consider raising stops to protect profits at this point.

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Jun 30, 2017 1:08pm|Categories: Completed Trades - Long, Gold & Commodities|Tags: , |0 Comments

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