Comments for Tuesday, November 16, 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 yesterday for copper, silver, gold and platinum. All of the metals were hurt by last week’s action but are still in long term uptrends overall. Each metal made a new recent low before closing higher. Platinum looks the weakest while at the lower end of a support area and the closest to a sell signal at this time. Remember to keep an eye on the dollar which has been setting up for a possible rally. This could knock down the metals along with many other commodities that were helped higher by the weak dollar including the indices. BUY SIGNALS FOR COPPER, SILVER, GOLD AND PLATINUM. CALL FOR DETAILS!
Special Note for Cotton Traders: The daily price limit for Tuesday, November 16, will revert back to 5 cents.
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.