SJM Update

 I've put out as many reminder as I can on trade ideas like SJM, we were looking for a break of that trendline and there it is, this is why alerts are essential so I hope some of you caught it.

 Short term on the 2 min I see a positive divergence, just like USO when it broke the channel, it returned to kiss it goodbye, and that is likely what will happen with SJM so I'm closing the model portfolio trade here and looking to reposition, maybe on a straight short. If I miss it, well there's a bus every hour.

 Longer term, the flag looks like it is really in trouble here, but again, even a headless snake can lunge toward you. I'll be looking for another entry on a bounce toward the lower flag trendline.

Here's the put position I'm closing in the options model portfolio.