Spooz Remain Vulnerable

May 2, 2001
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
markets opening. Therefore, overnight events may alter the
outcome of these observations.

There’s not much to look at again tonight. Remain patent until more markets
set up.

It looks like the overbought condition may finally be catching up with June
S&P futures
(
SPM1 |
Quote |
Chart |
News |
PowerRating). For the nimble, continue to look for a
shorting opportunity here.

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Once again, for you bottom fishers, July cotton
(
CTN1 |
Quote |
Chart |
News |
PowerRating), continues to
rally off of its lows. Continue to
look for a buying opportunity here.