Let The Markets Come To You

April 12, 2001
Dave Landry

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.

There’s not much to look at tonight (Thursday). The index futures are
overbought but that’s not reason in and of itself to short them–wait for signs
of a reversal here. Sugar has become too volatile. Cotton still looked vulnerable
but seemed to find support. The dollar, which had been strong as of late, showed
weakness on Thursday. Therefore, let the markets come to
you.

Although, July copper
(
HGN1 |
Quote |
Chart |
News |
PowerRating) reversed intra-day on Thursday, it still
looks vulnerable longer-term. Continue to look for a shorting
opportunity here but wait for follow through to the downside.