Copper Returns
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.
Just a reminder, I’ll be
speaking on the afternoon of Saturday, October 14th at the TradingMarkets2000 First Annual Traders
Conference. I’ll also be available for a one-hour private workshop held later
that day.
I’m pleased to announce that we recently launched
the Trader’s Galleria.
Check it out, there you’ll find books, software, trading courses, computers and
just about everything else a trader needs to be successful. You can even
pre-order my upcoming book on swing
trading at a 20% discount.
Heads
up! After the close, Intel
(
INTC |
Quote |
Chart |
News |
PowerRating) announced that it would not meet
earnings expectations. The stock is trading more than 13 points lower in early after
hours trading. This will not bode well for the index futures on Friday. At the
time this is being published, the December Nasdaq 100 futures are trading nearly
100 points lower in Globex after-hours trading.
There’s not much set up
again tonight (Thursday). See last night’s commentary for details.
December copper
(
HGZ0 |
Quote |
Chart |
News |
PowerRating) recovered nicely on Thursday (a)
from Wednesday’s shake-out move (b). This implies that its uptrend remains
intact. Look for a buying opportunity here.
face=”Arial, Helvetica”>
width=”470″ height=”320″>
Looking ahead,
December
corn
(
CZ0 |
Quote |
Chart |
News |
PowerRating) continues to trace out a bottom and may set up over the next week
or so.
Best of luck with
your trading on Friday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!