Canadian 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
market’s opening. Therefore, overnight events may alter the
outcome of these observations.
The December Canadian dollar
(
CDZ |
Quote |
Chart |
News |
PowerRating), mentioned recently,
appears to be resuming its downtrend. Continue to look for a shorting
opportunity here.face=”Arial, Helvetica”>
February lean hogs
(
LHG1 |
Quote |
Chart |
News |
PowerRating) closed poorly on Wednesday but
still looks like it may have the potential to rally out of a pullback. Look for a
buying opportunity here on any resumption of strength.
January heating oil
(
HOF1 |
Quote |
Chart |
News |
PowerRating) sold off earlier on Wednesday
but reversed to close well. This action suggests that its uptrend remains
intact. Look for a buying opportunity here.
Best of luck with
your trading on Thursday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!