Comments for Friday, August 6, 2010
Looking Ahead to Today by Reflecting Back at Thursday’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.
Cocoa settled slightly lower this time keeping close to a buy signal but not quite. Therefore , I will continue to stand aside at least for now.
Sugar settled lower and now is looking a little toppy but still has been in an uptrend since early June. Sugar continues to look higher overall with little resistance up to the 2000 area. BUY SIGNAL. CALL FOR DETAILS!
Cotton had a huge range but settled well off its highs. Still this was a breakout giving me a buy signal with cotton’s highest high since September 29th, 2008 and best close since October 2nd, 2008!
Coffee settled slightly higher still in a strong uptrend with good support down to the 16000 area. BUY SIGNAL. CALL FOR DETAILS!
closed higher still not able to give me a buy signal. OJ has been working higher over the last three weeks as shown below but hasn’t broken out of its pattern that was started in the middle of May.
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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 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.