What’s Up, What’s Down: Meats and Currencies

Comments for Monday, August 23, 2010

Looking Ahead to Today by Reflecting Back at Friday’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 for live and feeder cattle while lower for the hogs. The cattle and feeders both made new CONTRACT HIGHS AND CLOSE again ahead of the COF and cold storage reports. Hogs made their highest highs in two weeks before closing lower in reversal type action that may have been due to cattle/hog spreading ahead of the reports mentioned above. Hogs have been trending higher since May which I also too conservatively played but that’s hindsight anyway. The overall trends for the meats continues to be up. BUY SIGNALS FOR THE LIVE AND FEEDER CATTLE.CALL FOR DETAILS!

Live Cattle Chart

Feeder Cattle Chart

Lean Hog Chart


Higher closes last Friday  for the Aussie Dollar and dollar index while lower for the Euro Fx, Swiss Franc, Japanese Yen, British Pound and Canadian Dollar. The euro has given me a SELL SIGNAL helped along mainly by Swiss/euro spreading because the franc is still trending higher overall and now s in a small BULL PENNANT. The yen settled lower but has been consolidating over the last 2 1/2 weeks still in an uptrend. The pound, on the other hand, made its lowest low and close in three weeks looking toppy along with the Aussie Dollar which had its worst low since July 22nd before rallying to close higher in reversal type action. The dollar settled higher again making its best high and close since July 22nd also, now very close to a buy signal. BUY SIGNALS FOR THE BRITISH POUND, SWISS FRANC, AUSSIE DOLLAR, AND JAPANESE YEN. SELL SIGNAL FOR THE EURO FX AND DOLLAR INDEX. CALL FOR DETAILS!

Euro Chart

Swiss Franc Chart

Japanese Yen Chart

British Pound Chart

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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 ralexander@zaner.com.

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.

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