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Get Out Of The Way

1/8/2021

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We have a few folks interested in catching a falling knife here.  There is a real risk that the metals could left translate, meaning that we have a failed intermediate cycle happening.  We just don't know and should stay on the sidelines until this situation resolves itself.  Before re-entering any metals, we will need to wait for a swing low at the very least.  

For starters, the Dollar looks to have bottomed.  We were expecting the dollar to drop a bit further down to 88 before a final cycle bottom but now it would appear the dollar is on day 2 of a new daily cycle.  This will make long positions in the metals harder.
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We are all out of metals now but we are still vulnerable with stocks.  We are advising that you tighten stops on NQ positions to 12900 and RTY positions to 2050 or to just exit your positions entirely and move to cash.
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Steve Wade and Tyler Wade of Wade Assurance are associated persons for AgDairy LLC.

                           Commodity Risk Disclosure Statement

The risk of loss in trading commodity futures contracts can be substantial.  You should, therefore, carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.

Wade Assurance is an equal opportunity insurance provider.
CONTACT US
Steve Wade
swade@wadeassurance.com
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Tyler Wade
​twade@wadeassurance.com
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