Sugar Sugar?
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”>October sugar
(
SBV0 |
Quote |
Chart |
News |
PowerRating), mentioned
Monday night, lapped lower on the open but reversed to close
well. This suggests that its uptrend remains intact. Also,
Tuesday’s price action formed a high-level "micro"
double bottom — or, if you prefer, a two-step pullback.
Continue to look for a buying opportunity here.
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For you breakout
players, October lean hogs
(
LHV0 |
Quote |
Chart |
News |
PowerRating) broke to new
six-month lows on an expansion of range on Tuesday. Look for
a shorting opportunity here.
Volatility
Watch
Once again,
September bonds
(
USU0 |
Quote |
Chart |
News |
PowerRating) remain a low-volatility
situation. The fact that they closed well, and just shy of
life-of-contract highs, suggests that the move may be higher
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!