Comments for Monday, October 18, 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 to sharply higher closes Friday for live and feeder cattle along with lean hogs. After cattle’s sharply higher close I got a BUY SIGNAL. However, at the same time., the June contract is in resistance area. Cattle is now in a tricky chart formation but I still have a buy signal. A close over 10125 would be, in my opinion, the best confirmation. The feeders also settled fairly strong but my sell signal is still okay and they’re also in a resistance area. Also, as you can see below, the November contract has been making lower lows and highs since August. The December hog contract settled slightly higher looking very week due to rising feed prices which has also had a profound effect on the feeders. SELL SIGNALS FOR LIVE AND FEEDER CATTLE ALONG WITH LEAN HOGS..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 email@example.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.