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November 30th, 2018 Newsletter

Become a trade leader and get paid for your trading Expertise on the Cannon Echo Trading Platform. Also check out what our senior broker John Thorpe has to say about the historic moves in crude oil prices.

November 30th, 2018 - Issue #945

In This Issue

1. Are you a good trader? Become a Trade Leader and get compensated
2. Hot Market Report: Crude Oil, What Next.....
3. Economic Calendar

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1. Cannon Trading is Looking for Good traders to become "Trade Leaders" on Cannon Echo System

Are you a good trader?

Cannon Trading Co., Inc.,(CTC), now celebrating 30 years in futures trading, is currently reaching out to traders with information on its Echo Trading Platform. If you’re a good trader with a worthy track record in trading, consider this: Share your trades on the Echo Trading Platform as an Echo Leader and be compensated for your trading ability. You can set a monthly charge for access to your trades and conduct your trading as you would normally. We take care of the rest. The back-end programming of the Echo Trading Platform manages all client registration and billing details, so Echo Leaders are free to focus on what really counts – their trading!
Echo Leaders who trade successfully can attract more subscribers and charge higher monthly subscription rates. And what better place for Echo Leaders to attract clients (Echo Followers) than Cannon Trading Co.? With over 30 years in business, we are one of the oldest Introducing Brokers in the United States.

YES, I want learn more about becoming an Echo Trading Leader!

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Cannon Trading respects your privacy and will never give this information to a 3rd party.

2. Hot Market Report: Energy markets Drop Fast reaching the $50 Psychological level - what's next?

By John Thorpe, Senior Broker

Click on image below to enlarge

Crude Oil futures;

After trading near the $77 mark back in Oct 18th, crude oil futures dropped over $25 in a matter of 6 weeks!! That is a very large, sharp move.

Weekly chart from this morning, (Nov. 30th 2018). Notice the 48-49.70 level is the first line of defense for crude oil market, which is the leader in the energy sector. The first major resistance if the market "decides" this sell off was too quick and we see some short covering comes around the $55.36 level.
This chart was prepared using CQG Q Trader software, which you can demo for 14 days with real time data.
To access a free trial to the ALGOS shown in the chart ( DIAMONDS included) along with other tools, visit and sign up for a free trial for 21 days with real time data.

I can only say the next two weeks should be a pretty exciting trade in the Energy complex. Jerome Powell spoke at 12 noon EST Wednesday at the Economic club of New York, His outlook for Rates will necessarily have an effect on crude prices: as rates increase the value of the dollar should increase and since international WTI crude is dollar denominated, Crude should sell off and test the $50.00 /bbl number this week.
Powell confirmed on Wednesday that further rate hikes will be data dependent after the December increase.
Markets are always focusing on the next event as they tend to be forward looking. Many reports and meetings: API always on Tuesday’ s late, EIA petroleum status Wednesdays early, EIA Nat Gas Thursdays early. Baker Hughes N.Am. Rig Count Fridays Mid Day all between now and the next OPEC meeting on Dec 6th. The G20 meeting on Friday and OPEC ‘s December 6th meeting., this market has retreated (Rallyed) from it’s previous slide , hardly any confirmation of a consolidative price event, this market is still a Bear and continues to show signs of clawing it’s way lower, yet still.
Keep an eye on Dollar strength as a continued element of the recent Bear crude run as dollar strength tends to effect crude prices in a negative manner.
Keep in mind that the GLOBEX/NYMEX also offers the mini Crude oil contract which is half the size and may be a good alternative for smaller/ begginer traders.
MINI Crude Oil Futures Specs
Hours: 5:00 PM to 4:00 PM next day PM Central Time
Margins: $2250 initial, $2050 Maint. ( as of the date of this newsletter)
Point Value: full point = $500 ( Example: 62.80 to 63.80 ). Min fluctuation is 0.25 = $12.5 ( Example: 61.80 to 61.825)
Settlement: Cash Settled commodity one day prior to the Big Contract

Months: Monthly cycle, All Months

Crude Oil Futures Specs
Hours: 5:00 PM to 4:00 PM next day PM Central Time
Margins: $4500 initial, $4100 Maint. ( as of the date of this newsletter)
Point Value: full point = $1000 ( Example: 71.80 to 72.80 ). Min fluctuation is 0.1 = $10 ( Example: 71.80 to 71.81)
Settlement: Physical, deliverable commodity

Months: Monthly cycle, All Months

Weekly Options:YES
Crude Oil is one of my favorite markets for Day Trading because of the intraday voilatility and movements. Be careful, these factors can work against you or in your favor.
Some of the basic fundamentals to keep in mind when you are considering a trade in the crude oil as well as other energies:
1. Longer term view of current market prices
2. Dates and times of important reports. Namely, Tuesday afternoon report (API) and the DOE report on Wednesday mornings at 10:30 Am EST
3. Weather and Seasonality
4. Correlation to US Dollar prices
5. Inflationary prospects
6. Geopolitical Stability
7. U.S. Fiscal and Monetary Stability

Our brokers here at Cannon will be happy to chat about the crude olil market, other energies, other futures, options, futures spreads and much more! Feel free to contact us at any time.

3. Economic Calendar

Source: Moore Research Center, Inc.

Date Reports Expiration & Notice Dates
11/30
Fri
8:45 AM CST - Chicago PMI(Nov)
 
 
 
FN: Dec Wheat(CBT)
Dec Oats(CBT)
Dec Corn(CBT)
Dec Soymeal & Soyoil(CBT)
Dec Copper(CMX)
Dec Gold & Silver(CMX)
Dec Platinum & Palladium(NYM)
LT: Nov Fed Funds(CME)
Dec RBOB & ULSD(NYM)
Nov Fed Funds Options(CME)
Dec Lumber Options(CME)

12/03
Mon
9:00 AM CST - Construction Spending(Oct)
9:00 AM CST - ISM Index(Nov)
2:00 PM CST - Cotton System
2:00 PM CST - Fats & Oils
2:00 PM CST - Grain Crushings

 
 
 
12/04
Tue
1:00 PM CST - Auto & Truck Sales(Nov)
3:30 PM CST - API Energy Stocks
 
 
FN: Dec RBOB & ULSD(NYM)
LT: Nov Butter(CME)
Nov Milk(CME)
Nov Butter Options(CME)
Nov Milk Options(CME)
12/05
Wed
6:00 AM CST - MBA Mortgage Index
7:15 AM CST - ADP Employment Change(Nov)
7:30 AM CST - Productivity-Rev(Q3)
7:30 AM CST - Unit Labor Costs-Rev(Q3)
9:00 AM CST - ISM Services(Nov)
9:30 AM CST - EIA Petroleum Status Report
1:00 PM CST - Beige Book(Nov)
2:00 PM CST - Dairy Products Sales

 
 
 
12/06
Thu
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly
7:30 AM CST - Trade Balance(Oct)
9:00 AM CST - Factory Orders(Oct)
9:30 AM CST - EIA Natural Gas Report
3:30 PM CST - Money Supply
LT: Dec Cotton(NYM)
 
 
 
12/07
Fri
7:30 AM CST - Ave Workweek & Hourly Earnings(Nov)
7:30 AM CST - Nonfarm Payrolls(Nov)
7:30 AM CST - Unemployment Rate(Nov)
9:00 AM CST - Wholesale Inventories(Oct)
2:00 PM CST - Consumer Credit(Oct)
LT: Dec Canadian Dollar Options(CME)
Dec Currencies Options(CME)
Dec Live Cattle Options(CME)
Dec Mx Peso Options(CME)
Dec US Dollar Index Options(ICE)
Jan Cocoa Options(ICE)
12/10
Mon

 
 
 
FN: Dec Live Cattle(CME)
LT: Jan Sugar-16(ICE)
 
 
12/11
Tue
7:30 AM CST - Core PPI & PPI(Nov)
9:00 AM CST - JOLTS-Job Openings(Oct)
11:00 AM CST - WASDE Report & Crop Production
3:30 PM CST - API Energy Stocks
FN: Jan Sugar-16(ICE)
 
 
 
12/12
Wed
6:00 AM CST - MBA Mortgage Index
7:30 AM CST - Core CPI & CPI(Nov)
9:30 AM CST - EIA Petroleum Status Report
1:00 PM CST - Treasury Budget(Nov)
2:00 PM CST - Dairy Products Sales

 
 
 
12/13
Thu
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly
7:30 AM CST - Export(ex-ag) & Import(ex-oil) Prices(Nov)
9:30 AM CST - EIA Natural Gas Report
3:30 PM CST - Money Supply
LT: Dec Nikkei(CME)
Dec Cocoa(ICE)
Dec Nikkei Options(CME)
FN=First Notice, OE=Option Expiration, LT=Last Trade

Disclaimer: This calendar is compiled from sources believed to be reliable. Moore Research Center, Inc. assumes no responsibility for any errors or omissions. It is meant as an alert to events that may affect trading strategies and is not necessarily complete. The release dates for certain economic reports may have been rescheduled.

* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.

** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.

*** This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading!

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