Greetings!

Make October a great trading month!

Good daily chart and quick trading rules on our weekly newsletter.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

7:30am Sept Challenger Job Cuts y/y (last -13.8%)
8:30am Aug Personal Income (last 0.0%), Aug Personal Spending (last 0.2%), Aug PCE Deflator y/y (last -0.8%), Aug PCE Core (last m/m 0.1%, y/y 1.4%), Initial Jobless Claims (last 530K), Continuing Claims (last 6.138M)
10:00am Sept ISM Manufacturing (last 52.9), Sept ISM Prices Paid (last 65), Aug Construction Spending m/m (last -0.2%), July Pending Home Sales (last m/m 3.2%, y/y 12.9%)
10:30am Natural Gas Inventories

Events

9:00am Fed Chairman Bernanke to testify before House committee. 5:30pm Fed’s Lockhart speaks on US economy. 5:30pm Fed’s Pianalto to speak on US economy. SLH to be added to S after the close. Bank of America Global Real Estate Conference. Thomas Weisel Consumer Conference. Monthly vehicle sales. Trades Ex-dividend: BEN $0.21, AMB $0.28, AM $0.12.

Earnings

Before the Open: STZ, CRAI. After the Close: ACN, CREL, DMAN, GPN, BLUD, RECN, SMSC.

Greetings!

A picture is worth a thousand words…

60 minute chart below with some upside and downside price projections.

click to enlarge

Good trading!

Futures Trading Levels

Economic Calendar

Economic

8:15am Sept ADP Employment Change (last -298K)
8:30am Final Q2 Annualized GDP q/q (last -1.0%), Q2 GDP Price Index (last 0.0%), Q2 Personal Consumption (last -1.0%), Q2 Core PCE q/q (last 2.0%)
9:45am Sept Chicago Purchasing Manager Index (last 50)
10:00am Sept NAPM-Milwaukee (last 56)
10:30am DoE Crude Oil/Gasoline/Distillate Inventories

Events

10:30am Fed’s Lockhart to speak on US economic outlook. 12:35pm Fed’s Kohn speaks about exit policies. 10:00am ONXX Investor briefing on Nexavar. MBA Mortgage Applications (7:00, last 12.8%). Trades Ex-dividend: BMY $0.31, DGX $0.10, AXP $0.18, AGNC $1.40, ARKR $1.00.

Earnings

Before the Open: ATU. After the Close: DMND, LWSN, XRTX.

Greetings!

Have a great weekend and a good trading week to come!

If you do want to think about trading, here is food for thought….What do you think is the biggest mental enemy of traders in general and day-traders specifically?

My thought is…the inability of most traders to accept losses and losing days which in turn create a snow ball affect and can sometimes turn a small losing day into a “disaster losing day”.

If you agree with that and see this in yourself, start thinking on how you can trick your mind into
accepting losses and understanding the role of losses in trading.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

10:30am Sept Dallas Fed Manufacturing (last -9.1%)

Events

FDX Annual Meeting. Trades Ex-dividend: KFT $0.29, DE $0.28.

Earnings

None Seen

Greetings

We got a technical sell idea yesterday during the last 30 minutes of trading and today the first target at 1043.25 was achieved. As always the big question is what next…?

Well 1050 is possible small bounce, IF failed to break 1050 on the upside, then lower levels on the way down are on the chart below.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

8:30am Aug Durable Goods Orders (last 5.1%, ex-transport 1.1%)
9:55am Aug Final U. of Michigan Confidence (last 70.2)
10:00am July New Home Sales (last 433K, m/m 9.6%)

Events

1:30pm Fed’s Warsh to speak in Chicago. CAG annual meeting. Trades Ex-dividend: TDI $0.414.

Earnings

Before the Open: KBH.

Greetings!

Just for the fun of it or perhaps to remind us of the bigger picture….below is a weekly chart of the mini SP along with some fibonacci levels.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

8:30am Initial Jobless Claims (last 545K), Continuing Claims (last 6.23M)
10:30am Natural Gas Inventories
10:00am Aug Existing Home Sales (prior 5.24M, m/m 7.2%)
1:00pm Treasury’s 7-yr note auction

Events

G20 Meeting opens in Pittsburg. 10:30am Fed’s Evans speaks on asset prices and regulation. BoJ Minutes. HPQ analyst meeting. Trades Ex-dividend: HOG $0.10.

Earnings

Before the Open: AM, MKC, NEOG, RAD, SCS, TXI, MTN. After the Close: ALOG, FINL, RIMM, TIBX.

Greetings!

FOMC rate decision tomorrow ( Wednesday ) around 2:15 PM Eastern.

We usually see two sided , range bound action prior to the rate announcement, followed by volatile moves right after.

As I mentioned before, if you have not traded before during FOMC , stand on the sidelines, observe, make notes so you know what to expect the next time.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

10:30am DoE Crude Oil/Gasoline/Distillate Inventories
1:00pm Treasury’s 5-yr note auction
2:15pm FOMC rate decision

Events

BoE Minutes. 8:00am FDA Anesthetic Life Support Drugs Committee Meeting. Credit Suisse London Steel and Mining Conference. ABT investor briefing. MBA Mortgage Applications (7:00, last %). After the close, NTCT to be added to the S. Trades Ex-split: UTHR 2-1. Trades Ex-dividend: XRAY $0.05, NPD $1.48.

Earnings

Before the Open: AZO, GIS. After the Close: PAYX, RHT.

Greetings!

FOMC this Wednesday will either provide the necessary fuel for new highs or give the bears what they need to push this market lower.

I expect range bound trading until then.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

10:00am July House Price Index m/m (last 0.5%), Sept Richmond Fed Manufacturing Index (last 14), TAF results
1:00pm Treasury’s 2-yr note auction
4:30pm API Crude Oil/Gasoline/Distillate Inventories

Events

CIBC Eastern Institutional Investor Conference. Credit Suisse Commodities conference. LOW analyst meeting. ICSC/UBSW Chain Store Sales (7:45, last 0.0%). Redbook Retail Sales (8:55, last -1.9%). ABC Consumer Confidence (last -49). Trades Ex-dividend: SWY $0.10, XEL $0.245.

Earnings

Before the Open: KMX, CCL, CAG, FDS, PRGS. After the Close: AAR.

Greetings!

Another option expiration day turned out to be choppy with prices finishing close to un-change levels.

I said it before and I will say it again, it helps to keep notes about the market and certain market behaviors during events that repeat themselves, such as option expiration days, roll-over days, FOMC meetings, big gaps moves etc.

Enjoy the weekend and take time to clear your head from trading and all the emotions that come with it so you can be fresh and ready for the next tading week.

Shana Tova and Good trading!

Futures Trading Levels

Economic Calendar

Economic

10:00am Aug Leading Indicators (last 0.6%), TAF auction

Events

5:30pm Fed’s Cumming speaks on economic recovery. Bank of America Smid Cap Conference. CIBC Energy Infrastructure Conference. UBS Global Life Science Conference. NKE annual meeting. GIS annual meeting. Ex-dividend: FLS $0.27, HOO $0.09.

Earnings

Before the Open: LEN. After the Close: SNX.

Greetings!

We have options expiration day tomorrow, usually a recipe for volatile, two-sided type of trading day.

Trade well and stay disciplined to your trading plan, money management rules!

Futures Trading Levels

Economic Calendar

Economic

None Seen

Events

AGP Investor Day. Trades Ex-dividend: HNZ $0.42.

Earnings

None Seen

Greetings!

Good reading about trading and discipline at: http://www.cannontrading.com/news/newsletter_20090916.php#one.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

8:30am Aug Housing Starts (last 581K), Aug Building Permits (last 564K), Initial Jobless Claims (last 550K), Continuing Claims (last 6.088M)
10:00am Sept Philadelphia Fed (last 4.2)
10:30am Natural Gas Inventories
11:00am Treasury note announcement

Events

SEC vote on new rules for ratings agencies and flash trading. Goldman Sachs Communacopia Conference. BMO Capital Back to School Education Conference. Trades Ex-dividend: DTE $0.53, IFF $0.25, GE $0.10, TIF $0.17.

Earnings

Before the Open: DFS, FDX, PIR, SMTS. After the Close: HIS, PALM.