TRADING DELIGHT - MOS

I have been trading MOS quite a bit lately and have been making money on the long and short side of things.  I simply wanted to put up a post with a chart that I have been using that has been a great tool in determining when to buy and sell and when to switch sides.

Currently I am short as of yesterday afternoon when I saw MOS hit $69.  I felt like that would be strong resistance on the upside, so it was natural to enter a short there.  I see that MOS is in a downward channel.  The $67.15 level has been one where it has had support, (although it did break through earlier last week), and that $66.75 area is also support. 

15 MIN CHART (MOS)

TRADING THOUGHTS
I will probably play this quite tight today, by selling 1/2 a position when we near $67.15.  Right now, my stops are around $68.35 to keep me winning.  If MOS would drop through the $67.15 area, it could very well trade down to the bottom of the channel which is somewhere around $65.00 on the weekly chart.

WEEKLY 3 YR MOS

Be very careful and nimble.  You must use stops, although MOS is under pressure, all commodity plays are potential huge upward reversals if the US dollar continues to drop.

GOATMUG