Beans Still Vulnerable
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.
face=”Arial, Helvetica”>At the time this is being published,
the S&P Globex futures are trading down 1 point and the
bond market is trading down 1 tick.
November soybeans
(
SX0 |
Quote |
Chart |
News |
PowerRating), mentioned Monday night, still look vulnerable.
Continue to look for a shorting opportunity here.
For you breakout
players, October sugar
(
SBV0 |
Quote |
Chart |
News |
PowerRating) has formed a bullish
outside day at life-of-contract highs. Look for a buying
opportunity here — or, better yet, wait for the next
pullback.
width=”470″ height=”320″>
Follow-up/looking
ahead: I’m still watching the energies for potential setups
on the short side.
Best of luck with
your trading on Wednesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!