September 20th, 2019 - Issue #982
In This Issue
1. Day-Trading Alerts via Text Directly to Your Phone FREE TRIAL
2. Hot Market Report: Crude Oil "Explodes"
3. Economic Calendar
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1. Day- Trading Alerts via Text Directly to Your Phone FREE TRIAL
3 Weeks FREE TRIAL
The real time trade alerts FREE 3-week trial uses a combination of proprietary information technical studies, trading ALGOS and a few popular indicators for confirmation.
You will receive a text and email each time there is an entry or exit in a simple language along with the current price for that specific market.
Text alerts available to US and Canada residents. Int'l clients will receive the alerts via email.
Real-time trade signals via text available for the following markets:* Gold, silver, copper, platinum
* mini SP, mini Nasdaq, mini Dow, mini Russell
* Major currenciey pairs
* Wheat, Beans, Soymeal, Bean oil
* Crude oil, RBOB, Heating oil, Natural gas
* 30 year Bonds and 10 year Notes
* Hogs, Cattle
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2. Hot Market Report: Crude Oil "Explodes"
By Joe Easton, Senior BrokerClick on image below to enlarge
This week’s highlighted Market is Crude Oil. Crude Oil is part of the energy sector along with "it's" brothers "RBOB - Unleaded gas" and heating oil and cousin, natural gas. All traded on the NYMEX/GLOBEX exchange.
Bombs over Saudi Arabia! Bombs over Saudi Arabia! This weekend drones and missiles reigned on the world’s largest crude processing facility with “perfect precision” west of the capital city Riyadh. The result of this attack was a substantial gap up in Crude Oil Futures – CL. This volatility was perhaps the greatest since the Gulf War. Crude Oil Futures closed on Friday at $54.63 and opened Sunday Night at $61.29 per barrel. This is almost a $7 move or $7000 per contract. This is a reminder that going into a weekend with open positions carry larger degree of risk than weekeday and you may want to hedge your positions with a spread with another month or covered by options. When gaps this large happen, stops are often skipped over and not executed due to trading outside exchange set “bands”, traders can be responsible for unlimited losses or gains. This week crude rolled from October to November. October Crude Oil traded as high as $ 63.15 and dropped $5 over night to a low price of $58.58. This selloff was followed by a rally to almost a perfect double top at $63.19. We have since taken out the low trading to $57.58 and a press time trade at $58.68. This market will continue to provide opportunities for Trading on both sides through next weeks as the market balances.
4 Hour chart of Crude Oil to the right. This chart was prepared using our FREE E-Futures Int'l software, which you can demo for 28 days with real time data.To access a free trial to the ALGOS shown in the chart ( "early trend identifier" included) along with other tools, visit and sign up for a free trial for 21 days with real time data.
On a different note, Crude Oil futures are fastly becoming one of the more popular contracts for day-trading as volatility, speed, price fluctuations are all there for the double edge sword, day-traders love.
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: $2005 initial, $1550 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: $4410 initial, $4000 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!
3. Economic Calendar
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
|---|---|---|
| 09/20 Fri |
2:00 PM CDT - Cattle On Feed
|
LT: Sep E-Mini Dow(CME)
Sep E-Mini S&P 500(CME) Sep NASDAQ(CME) Sep Russell(CME) Oct Crude Lt(NYM) Sep E-Mini Dow Options(CME) Sep E-Mini S&P 500 Options(CME) Sep NASDAQ Options(CME) Sep Russell Options(CME) Oct 2,5,10 Year Notes Options(CBT) Oct Bonds Options(CBT) Oct Canola Options(CBT) Oct Wheat Options(CBT) Oct Corn Options(CBT) Oct Oats Options(CBT) Oct Rough Rice Options(CBT) Oct Soybeans,Soymeal,Soyoil Options(CBT) |
| 09/23 Mon |
2:00 PM CDT - Cold Storage
3:00 PM CDT - Crop Progress |
|
| 09/24 Tue |
8:00 AM CDT - FHFA Housing Price Index(Jul)
8:00 AM CDT - S&P Case-Shiller Home Price Index(Jul) 9:00 AM CDT - Consumer Confidence(Sep) 3:30 PM CDT - API Energy Stocks |
FN: Oct Cotton(NYM)
Oct Crude Lt(NYM) |
| 09/25 Wed |
6:00 AM CDT - MBA Mortgage Index
9:00 AM CDT - New Home Sales(Aug) 9:30 AM CDT - EIA Petroleum Status Report 2:00 PM CDT - Dairy Products Sales |
LT: Oct Copper Options(CMX)
Oct Gold Options(CMX) Oct Silver Options(CMX) Oct Natural Gas Options(NYM) Oct RBOB & ULSD Options(NYM) |
| 09/26 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Adv Intl Trade In Goods(Aug) 7:30 AM CDT - Adv Retail Inventories(Aug) 7:30 AM CDT - Adv Wholesale Inventories(Aug) 7:30 AM CDT - GDP-Third Estimate(Q2) 7:30 AM CDT - GDP Deflator-Third Estimate(Q2) 9:00 AM CDT - Pending Home Sales(Aug) 9:30 AM CDT - EIA Natural Gas Report 3:30 PM CDT - Money Supply |
LT: Sep Copper(CMX)
Sep Gold(CMX) Sep Silver(CMX) Sep Platinum(NYM) Sep Palladium(NYM) Sep Feeder Cattle(CME) Oct Natural Gas(NYM) Sep Feeder Cattle Options(CME) |
| 09/27 Fri |
7:30 AM CDT - Durable Goods-Ex Transportation(Aug)
7:30 AM CDT - Durable Orders(Aug) 7:30 AM CDT - Personal Income & Spending(Aug) 7:30 AM CDT - PCE Price Index(Aug) 7:30 AM CDT - Core PCE Price Index(Aug) 9:00 AM CDT - Univ of Mich Consumer Sent-Final(Sep) 2:00 PM CDT - Hogs & Pigs |
FN: Oct Natural Gas(NYM)
LT: Sep Bitcoin(CME) |
| 09/30 Mon |
8:45 AM CDT - Chicago PMI(Sep)
11:00 AM CDT - Grain Stocks 11:00 AM CDT - Small Grains Summary 3:00 PM CDT - Crop Progress |
FN: Oct Copper(CMX)
Oct Gold & Silver(CMX) Oct Platinum & Palladium(NYM) Oct Soymeal & Soyoil(CBT) LT: Sep 2,5 Year Notes(CBT) Sep Fed Funds(CME) Oct RBOB & ULSD(NYM) Oct Sugar-11(ICE) Sep Fed Funds Options(CME) Oct Lumber Options(CME) |
| 10/01 Tue |
9:00 AM CDT - ISM Manufacturing Index(Sep)
9:00 AM CDT - Construction Spending(Aug) 2:00 PM CDT - Cotton System 2:00 PM CDT - Grain Crushings 2:00 PM CDT - Fats & Oils 3:30 PM CDT - API Energy Stocks |
FN: Oct Sugar-11(ICE)
LT: Sep Butter(CME) Sep Milk(CME) Sep Butter Options(CME) Sep Milk Options(CME) |
| 10/02 Wed |
6:00 AM CDT - MBA Mortgage Index
7:15 AM CDT - ADP Employment Report(Sep) 9:30 AM CDT - EIA Petroleum Status Report 2:00 PM CDT - Dairy Products Sales |
FN: Oct RBOB & ULSD(NYM)
|
| 10/03 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 9:00 AM CDT - ISM Non-Manufacturing Index(Sep) 9:00 AM CDT - Factory Orders(Aug) 9:30 AM CDT - EIA Natural Gas Report 3:30 PM CDT - Money Supply |
|
| FN=First Notice, OE=Option Expiration, LT=Last Trade | ||
* 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!
