Belly Flop?
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.
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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 Jay Leno. I’ll also be at the cocktail party
Friday night. Sign up soon, as space is limited.
February bellies
(
PBG1 |
Quote |
Chart |
News |
PowerRating) appear to be stalling out in their
rally from lows. Look for a shorting opportunity here.
width=”470″ height=”320″>
December bonds
(
USZ0 |
Quote |
Chart |
News |
PowerRating) sold off earlier on Tuesday but
recovered to close at life-of-contract closing highs. This suggests the
longer-term uptrend remains intact.
December cotton
(
CTZ0 |
Quote |
Chart |
News |
PowerRating),
mentioned Friday, rallied nicely on Tuesday and appears to be resuming its
uptrend. Continue to look for a buying opportunity here.
For
you breakout players, December corn
(
CZ0 |
Quote |
Chart |
News |
PowerRating), mentioned recently, broke to new
1-month highs on Tuesday. Continue to look for
a buying opportunity here.Â
Looking Ahead
December
copper
(
HGZ0 |
Quote |
Chart |
News |
PowerRating) broke to life-of-contract highs on Tuesday. This market may
setup over the next few days.
Best of luck with
your trading on Wednesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!