Will Pigs Fly Again?
Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.
The dollar appears to have stabilized in a pullback from highs and once again
looks poised to resume its uptrend. Look for shorting opportunities in the
weaker inverse currencies such as the June Japanese Yen
(
JYM1 |
Quote |
Chart |
News |
PowerRating).
June lean hogs
(
LHM1 |
Quote |
Chart |
News |
PowerRating) appear to be stabilizing after pulling back into
the area of their recent breakout. This action suggests their long-term uptrend
remains intact. Look for a buying opportunity here.
May bellies
(
PBK1 |
Quote |
Chart |
News |
PowerRating) stabbed lower on Monday but reversed to close well.
This suggest their strong uptrend remains intact. Look for a buying opportunity
here.
May cotton
(
CTK1 |
Quote |
Chart |
News |
PowerRating), mentioned
recently, still looks like it might have one more trip to life-of-contract lows
left in it. Continue to
look for a shorting opportunity here.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!