Unleaded Retraces
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.
face=”Arial, Helvetica”>For those of you planning to attend
the TradingMarkets2000 First Annual Traders Conference at
the Venetian Resort, Hotel & Casino in Las Vegas on
October 13-15, I’ll be speaking on Saturday afternoon
following Leno. I’ll also be at the cocktail party
Friday night. Sign up soon, as space is limited.
October unleaded gas
(
HUV0 |
Quote |
Chart |
News |
PowerRating) has now retraced about 38%
of its last up leg. Look for a buying opportunity here.
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December bonds
(
USZ0 |
Quote |
Chart |
News |
PowerRating) appear to be finding
support around the 99-09 level and look like like they might have one last
thrust back to life-of-contract highs left in them. Look for a buying
opportunity here.
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The December Swiss Franc
(
SFZ0 |
Quote |
Chart |
News |
PowerRating), mentioned
Tuesday night, still looks vulnerable. Continue to look shorting opportunity here.
October live cattle
(
LCV0 |
Quote |
Chart |
News |
PowerRating) and feeder cattle
(
FCV0 |
Quote |
Chart |
News |
PowerRating), mentioned recently, still
look vulnerable. Continue to look for a shorting opportunity here.
Looking
Ahead
December cottonÂ
(
CTZ0 |
Quote |
Chart |
News |
PowerRating) appears to be rolling over. This
contract may set up over the next few days.
December copper
(
HGZ0 |
Quote |
Chart |
News |
PowerRating) may
set up as a pullback from life-of-contract highs over the next few days.
Best of luck with
your trading on Thursday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!