Meats Pulling Back

  • October 9, 2000
  • Dave Landry

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
market’s opening. Therefore, overnight events may alter the
outcome of these observations.

December live cattle
(
LCZ0 |
Quote |
Chart |
News |
PowerRating) has pulled back after its
recent run up from life-of-contract lows. December lean hogs
(
LHZ0 |
Quote |
Chart |
News |
PowerRating) is a
somewhat similar pattern. Look for buying opportunities here.

I forgot that currencies were closed on Monday. Therefore, I’ll repeat my
commentary from Friday:

The December Canadian Dollar
(
CDZ0 |
Quote |
Chart |
News |
PowerRating), mentioned Thursday night, formed a
bearish outside day down on Friday. Continue to look for a shorting opportunity here.

 

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Looking Ahead

Juice may be trying to find a bottom.

Best of luck with
your trading on Tuesday!

face=”Arial, Helvetica”>Dave Landry

P.S. Reminder:
Protective stops on every trade!