Comments for Tuesday, September 28, 2010
Looking Ahead to Today by Reflecting Back at Monday’s Price Action
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors.
Higher closes Monday for crude oil while lower for heating oil, the rbob and natural gas. The crude, heat and rbob continue to show very choppy action while in sideways trends since late May and early June on the daily charts and May-June 2009 on the weekly ones. Crude did make its best close in 1 1/2 weeks but still continues in a trading range along with the heat and rbob. Gas gapped and settled lower again still in a critical area to hold which it has done for a month now while consolidating as shown below. Of course, its trend has been obviously down since the middle of June.
Is open-outcry going away? Do you know exactly how much futures trading is executed on electronic platforms like Globex? Download my Trading Volume report at http://www.zaner.com/3.0/ralexVolume.asp (or copy & paste this link into your browser).
Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at firstname.lastname@example.org.
The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.