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”>For those of you planning to attend
the TradingMarkets 2000 conference at the Venetian Hotel
Resort and 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 unchanged
and the bond market is trading down 1 tick.
The VIX is now at
its lowest levels since July 1999 (see
Stock Outlook). This suggests that there may be an
upcoming shorting opportunity in the September S&P
futures
(
SPU0 |
Quote |
Chart |
News |
PowerRating).
face=”Arial, Helvetica”>
width=”470″ height=”320″>
October lean hogs
(
LHV0 |
Quote |
Chart |
News |
PowerRating) appear to be resuming their meltdown. Look for a
shorting opportunity here.
Volatility
Watch
Over the past two
weeks, September bonds
(
USU0 |
Quote |
Chart |
News |
PowerRating) have been confined to
about a half-point range on a closing basis. Although
they aren’t on the Volatility List(s) yet, they are becoming
a low-volatility situation. Watch for a larger-than-normal
move (in either direction) as volatility reverts to its
mean.
Best of luck with
your trading on Wednesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!