What’s Up, What’s Down: Spotlight on Livestock
Comments for July 21, 2011
Looking ahead to Thursday by reflecting back on Wednesday’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.
SPOTLIGHT ON LIVESTOCK FUTURES
MEATS: 7/21/11 Higher for live and feeder cattle along with lean hogs again. I plan on taking advantage of cattle’s one gap and possibly the feeders two gaps below the market. CALL FOR DETAILS! Cattle and hogs are now forming potential tops with the 110 area basis the August contract important to watch for cattle and the 13250 for the feeders in my opinion. With that being said both are close to sell signals at this time.The August hog contract had a very weak close(lowest in over a week) but still in a tough area to trade. A close over 100 would really be very good but it also is the beginning of a resistance area that goes up to around 10250. BUY SIGNALS FOR LIVE AND FEEDER CATTLE ALONG WITH LEAN HOGS. CALL FOR DETAILS!
In early morning trading the Meats sector is trading up 0.21%, from yesterday’s closing prices. There are five futures contracts which comprise the Meats sector; and Meats are one of eight sectors featured in my Futures HeatMap – a color coded guided to the various market segments strengths and weaknesses. View the HeatMap at https://www.markethead.com/2.0
“A good plan is like a roadmap; it shows the final destination and usually the best way to get there” (H. Stanley Judd). Traders need a trading plan too. Download my TRADING PLAN TEMPLATE by clicking this link or copying and pasting it into your browser:
https://www.zaner.com/3.0/ljstradingplantemplate.asp
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.