Bottom In Beans?
Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.
face=”Arial, Helvetica”>Join me, fellow TradingMarkets.com
content providers, and other traders and money managers at
the Trading Markets 2000 conference at the Venetian Hotel
Resort and Casino in Las Vegas on October 13-15, 2000.
my latest trading lesson.
At the time this
is being published, the Globex S&P futures are trading
down 0.30 points and the bond market is trading down 1 tick.
November soybeans
(
SX0 |
Quote |
Chart |
News |
PowerRating) are in their first pullback since rallying off of
a double bottom. Look for a buying opportunity here.
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The September euro
(
ECU0 |
Quote |
Chart |
News |
PowerRating) appears to be making yet another "stair
step" lower. Look for a shorting opportunity here.
Volatility
Watch
The September
British pound
(
BPU0 |
Quote |
Chart |
News |
PowerRating) remains a low-volatility
situation. Watch for a larger-than-normal move (in either
direction) as volatility reverts to its mean.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!