Spoo Bounce?

  • November 21, 2000
  • 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
market’s opening. Therefore, overnight events may alter the
outcome of these observations.

January orange juice
(
OJF1 |
Quote |
Chart |
News |
PowerRating) continues to hold up well
since rallying off of life-of-contract lows. Look for a buying opportunity here.

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Based on a reversal (a) in the three-period moving average of the TRIN
(see tonight’s Stock Outlook for more information), there may be a bounce play
in the December S&P futures
(
SPZ0 |
Quote |
Chart |
News |
PowerRating). For the nimble, look for a buying
opportunity here.

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Volatility Watch

December gold
(
GCZ0 |
Quote |
Chart |
News |
PowerRating), remains a low-volatility
situation. Continue to watch for a larger-than-normal move (in either direction) as volatility
reverts to its mean.

Looking Ahead

The December Canadian Dollar
(
CDZ0 |
Quote |
Chart |
News |
PowerRating) has begun to
pull back from lows and might set up as a shorting opportunity over the next few
days.

Best of luck with
your trading on Wednesday!

face=”Arial, Helvetica”>Dave Landry

P.S. Reminder:
Protective stops on every trade!