Comments for February 1, 2011
Looking ahead to Tuesday by reflecting back on Monday’s trading
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors
LOOK AT THE HIGHS BEING PUT IN, IN THE WHEAT CONTRACTS
INDICES: 2/1/11: Higher closes yesterday for the cash and dow futures along with the S&P’s and nasdaq. All of the indices continue to be in strong uptrends even after making new recent lows before rallying to settle higher in reversal type action. A WORD OF ADVICE FROM A BROKER WHO HAS LEARNED THE HARD WAY. I know many of you are skeptical of the bull move in the indices especially when you look at the world economically. We have a large debt, huge unemployment and the list goes on and on. However, one of the things I’ve learned over my almost 39 years of futures experience is that: ‘It is what it is’. We are in a bull market-end of the story. By trying to continually pick a top without strong technical indicators is a recipe for disaster. Those of you reading my comments know what I’m talking about. We’ve all done it. The question is, have you learned yet?. I have clients who have been trading for years the same way with poor results. It’s not uncommon but all it leads to are losses and tax right-offs most of the time. BUY SIGNALS FOR THE DOW, S&P’S AND THE NASDAQ. CALL FOR DETAILS!
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 or call toll-free (888) 281-4158.
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors. The information in this Report and the opinions expressed are subject to change without notice. All known news and events have already been factored into the price of the underlying commodities discussed.