Feeder Cattle Still Poised To Rally
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.
August feeder cattle (FCQ1),
mentioned recently, still looks poised to continue its strong uptrend
out of its first pullback. Continue to look for a buying opportunity
here.
The VIX
and VXN
remain at relatively low levels (see Thursday’s Stock Outlook for
details). Therefore, for the nimble, continue to watch for shorting
opportunities in the September index futures.
Volatility Watch
August gold (GCQ1),
mentioned recently, is now a low volatility situation. Watch for a
larger-than-normal move,
as volatility reverts to its mean. Based on its recent failed
breakout, this move may be lower. Therefore, look for a shorting
opportunity here.
Best
of luck with your trading on Friday!
P.S. Reminder: Protective
stops on every trade!
