Cannon Trading Futures Blog: Daily Support and Resistance Levels

The short version of the below message simply says: Starting tomorrow, start trading DECEMBER MONTH for Mini SP, Mini Nasdaq, Mini Russell, Mini Dow and any other stock index futures.

     For those of you trading the E-Mini S&P futures, the “Big” S&P 500 futures or any Stock Index contract, it is extremely important to remember that Thursday, Sept 7th, is rollover day.  It is recommended that all new positions be placed in the DECEMBER 2006 contract as of Thursday’s trade date. GLOBEX will not roll over until Thursday morning at 8:30 A.M. Central Time, despite the fact that the trade date changes Wednesday afternoon.

     Further, please be aware that the executing brokers in the SEPTEMBER contract of the "Big" S&P 500 and NASDAQ 100 will not be "held" on ANY order, and that they will not take Cancel and Replace orders at all beginning Friday SEPTEMBER 8th.  Also, please be aware of liquidity issues in the 2nd step E-Mini S&P and E-Mini NASDAQ.  Expect sharply decreased liquidity on the SEPTEMBER contract beginning Thursday morning. Carefully consider whether you wish to place Market or Stop orders after that time.

     Traders with electronic trading software should make sure that defaults reflect the proper contract as of Thursday morning.

     NOTE: E-MINI rollover actually occurs at 8:30 A.M. Central Time, Thursday, but orders placed Wednesday afternoon and evening after 3:30 P.M. Central Time (before rollover) will work through Thursday’s close (after rollover). Please consider carefully how you place Stop or Market orders in these contracts.

     Feel free to call (800 - 454 - 9572) or e-mail reply and let me know if I can provide any further clarification, information or be of any additional assistance.