Spoos To Slide?
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”>Join me, fellow TradingMarkets.com
content providers, and other traders and money managers at
the Trading Markets 2000 conference at the Venetian Hotel
Resort and Casino in Las Vegas on October 13-15, 2000.
face=”Arial, Helvetica”>At the time this is being published,
the Globex S&P futures are trading 2.30 points higher
and the bond market is trading up 3 ticks.
face=”Arial, Helvetica”>For you breakout players, October
sugar
(
SBV0 |
Quote |
Chart |
News |
PowerRating), mentioned Tuesday night, is just shy of
taking out life-of-contract highs. Look for a buying
opportunity here — or, better yet, wait for the next
pullback from highs.
face=”Arial, Helvetica”>The September S&P futures
(
SPU0 |
Quote |
Chart |
News |
PowerRating) appear to be stalling out in a pullback from
lows. Look for a shorting opportunity here on any resumption
of their downtrend.
face=”Arial, Helvetica”>
width=”470″ height=”320″>
September unleaded
gas
(
HUU0 |
Quote |
Chart |
News |
PowerRating) gapped to near 10-day highs but reversed to
close poorly. This suggests that its downtrend from a major
top remains intact. Look for a shorting opportunity here.
Volatility
Watch
Once again,
September bonds
(
USU0 |
Quote |
Chart |
News |
PowerRating) remain a low-volatility
situation (see
commentary for details). The longer the volatility
remains low, the larger the price move (in either direction)
as volatility reverts to its mean.
Best of luck with
your trading on Thursday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!