Will The Pound Get Pounded? (again)

October 25, 2001
Dave Landry

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 December British Pound
(
BPZ1 |
Quote |
Chart |
News |
PowerRating), mentioned recently, looks like it may
be setting up as a short once again.

For you breakout players, December wheat
(
WZ1 |
Quote |
Chart |
News |
PowerRating) is consolidating nicely after forming a cup at life-on-contract lows.
Watch for a breakout here.