Natural Gas 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.
face=”Arial, Helvetica”>For those of you planning to attend
the TradingMarkets2000 First Annual Traders Conference at
the Venetian Resort, Hotel & Casino in Las Vegas on
October 13-15, I’ll be speaking on Saturday afternoon
following Jay Leno. I’ll also be at the cocktail party
Friday night. Sign up soon, as space is limited.
my latest trading lesson.
At the time this
is being published, the Globex S&P futures are trading
up 1.30 points and the bond market is trading up 1 tick.
face=”Arial, Helvetica”>October natural gas
(
NGV0 |
Quote |
Chart |
News |
PowerRating)
appears to be finding support near its recent breakout
levels and looks poised to make another stab higher. Look
for a buying opportunity here.
face=”Arial, Helvetica”>
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Once again, the
VIX continues to hover around 13-month lows. This suggests
that there may be an upcoming shorting opportunity in the
September S&P futures
(
SPU0 |
Quote |
Chart |
News |
PowerRating).
Volatility
Watch
September bonds
(
USU0 |
Quote |
Chart |
News |
PowerRating), mentioned recently, still remain a
low-volatility situation. Continue to watch for a
larger-than-normal move (in either direction) as volatility
reverts to its mean.
Best of luck with
your trading on Friday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!