Live Cattle To Follow Feeders?
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, appear to be resuming their strong uptrend.
Continue to look for a buying opportunity here.
Speaking of cattle, August live cattle
(LCQ1),
two of which I have in my back
yard,
also look poised to resume their strong uptrend out of a pullback.
Look for a buying opportunity here.
Once again, the VIX
and VXN
remain at relatively low levels (see Friday’s Stock Outlook for
details). Therefore, for the nimble, continue to watch for shorting
opportunities in the September index futures.
July silver (SIN1)
bounced off of life-of-contract lows which is also a triple bottom
formation. For the nimble, look for a buying opportunity here.
Volatility Watch
Looks like I was completely wrong
on my call on August gold (GCQ1).
Luckily, it didn’t trigger. There is something to be learned here
though. These are the types of moves than can occur out of low
volatility situations.
Best
of luck with your trading on Monday!
P.S. Reminder: Protective
stops on every trade!
