ESM16 – June E-Mini S&P (Last:2029.75)

Subscribers who bought at or nearYesterday’s bullish call went against a two-day tide of selling, allowing quite a few subscribers to get long at or very near the intraday low. Based on chat-room reports, I’ve established a long tracking position consisting of two contracts with a profit-adjusted cost basis of 2013.00. One should be offered to close at 2079.00, just beneath the secondary pivot of the original pattern, with an o-c-o stop-loss on the entire position (i.e., the two contracts that remain) at 2034.00. If we are successful in closing out the third contract at our price, we’ll swing for the fences with the one contract that would remain.  That implies using the 2101.75 target of the chart I’d sketched and disseminated to subscribers Tuesday night. (Note: Rick’s Picks does not track P&L, and any trade reported here must be confirmed by at least two subscribers, based on their actual experience. Visit our 24/7 chat room and share trading ideas and real-time results by taking a free trial subscription.) _______ UPDATE (April 7, 2:10 p.m. ET): With stocks getting thrashed today, subscribers were to have exited on a stop at 2013.00. This would have produced a theoretical profit on the position of $2100.