January 18th, 2019 - Issue #950
In This Issue
1. Trading 201: Day Trading Alerts and Newsletter via Email
2. Hot Market Report: Palladium reaching all time highs
3. Economic Calendar
MLK Hoiliday this Monday. Markets will have modified trading hours and some are closed on Monday.
1. Trading 201: Day Trading Alerts and Newsletter via Email
The Edge, daily trading signals newsletter FREE 3 months trial
A veteran client and trader once remarked "Just tell me WHICH market to trade on any specific day and WHAT direction and I can trade the heck out of it...." Well, the Edge by ExitPoints.com does exactly that. The ExitPoints EDGE email will let you know the night before what markets to focus on and which direction the market is expected to move. From that point you can more confidently create your trading plan and utilize your trading prowess to capture opportunities. (*Futures Trading is Risky)
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2. Hot Market Report: Palladium Making All Time Highs
By Mark O'Brien, Senior BrokerClick on image below to enlarge
Palladium is part of the Precious Metals sector along with "it's" brothers Platinum, Gold, Silver and Copper.
And in the race between platinum, palladium and gold for the rank of most valuable precious metal, for the first time in 16 years, it’s palladium, now trading at an all-time high over $1,300 per ounce – and touching an intra-day high of $1,396.40 just yesterday. That’s almost triple its $475 lows of Jan. 2016 and more than $500 above last August’s $815-820 lows. It certainly begs the question: can palladium eclipse gold’s all-time highs above $1,900 back in 2011? Most reporting on Palladium’s increase in value touches on a tight physical market. Production is limited mainly to mining operations in South Africa where labor tensions within the mining industry have also contributed to the metal’s upward price pressure.
Monthly chart from this morning, (Jan. 18th 2019). As of the time I am typing this newsletter, Palladium is backing off with sympathy to small sell off in gold and silver. From the longer term perpsective, 1496 is the next target. Current pivot level to watch is 1326 and immediate support based on the monthly chart is 1236. This chart was prepared using CQG Q Trader software, which you can demo for 14 days with realtime 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.
On a different note, I don't personally like day-trading Palladium but I feel it is a good market for swing trading
Palladium Futures Specs
Hours: 5:00 PM to 4:00 PM next day PM Central Time
Margins: $7,150 initial, $6,300 Maint. ( as of the date of this newsletter)
Point Value: Each $1 move = $100. Min fluctuation is 0.1 = $10
Settlement: Physical, deliverable commodity 100 troy ounces
Months: Quarterly cycle of March H, June M, September U, and December Z
Weekly Options:NO, only quarterly options
Some of the basic fundamentals to keep in mind when you are considering trading the Palladium or other metals for this matter:
1. Longer term view of current market prices
2. Dates and times of important reports.
3. Commitment of Traders report (COT)
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 Palladium market, other metals, 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 |
|---|---|---|
| 01/18 Fri |
8:15 AM CST - Capacity Util & Industrial Prod(Dec)
9:00 AM CST - Univ of Michigan Consumer Sentiment-Prelim(Jan) |
LT: Jan Nikkei Options(CME)
Feb Orange Juice Options(ICE) |
| 01/21 Mon |
MARTIN LUTHER KING, JR DAY
|
|
| 01/22 Tue |
9:00 AM CST - Existing Home Sales(Dec)
2:00 PM CST - Cold Storage |
LT: Feb Crude Lt(NYM)
|
| 01/23 Wed |
6:00 AM CST - MBA Mortgage Index
8:00 AM CST - FHFA Housing Price Index(Nov) 3:30 PM CST - API Energy Stocks |
|
| 01/24 Thu |
7:30 AM CST - Initial Claims-Weekly
9:00 AM CST - Leading Indicators(Dec) 9:30 AM CST - EIA Natural Gas Report 10:00 AM CST - EIA Petroleum Status Report 2:00 PM CST - Dairy Product Sales 3:30 PM CST - Money Supply |
FN: Feb Crude Lt(NYM)
|
| 01/25 Fri |
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Durable Goods-Ex Transportation(Dec) 7:30 AM CST - Durable Orders(Dec) 9:00 AM CST - New Home Sales(Dec) 2:00 PM CST - Cattle On Feed |
LT: Jan Bitcoin(CME)
Feb 2,5,10 Year Notes Options(CBT) Feb Bonds Options(CBT) Feb Canola Options(CBT) Feb Wheat Options(CBT) Feb Corn Options(CBT) Feb Oats Options(CBT) Feb Rough Rice Options(CBT) Feb Soybeans,Soymeal,Soyil(CBT) |
| 01/28 Mon |
|
LT: Feb Copper Options(CMX)
Feb Gold & Siver Options(CMX) Feb Natural Gas Options(NYM) Feb RBOB & ULSD Options(NYM) |
| 01/29 Tue |
7:00 AM CST - S&P Case-Shiller Home Price Index(Nov)
7:30 AM CST - Adv International Trade In Goods(Dec) 7:30 AM CST - Adv Retail Inventories(Dec) 7:30 AM CST - Adv Wholesale Inventories(Dec) 9:00 AM CST - Consumer Confidence(Jan) 3:30 PM CST - API Energy Stocks |
LT: Jan Butter(CME)
Jan Milk(CME) Jan Copper(CMX) Jan Gold & Silver(CMX) Jan Platinum & Palladium(NYM) Feb Natural Gas(NYM) Jan Butter Options(CME) Jan Milk Options(CME) |
| 01/30 Wed |
6:00 AM CST - MBA Mortgage Index
7:15 AM CST - ADP Employment Change(Jan) 7:30 AM CST - Pending Home Sales(Dec) 9:30 AM CST - EIA Petroleum Status Report 1:00 PM CST - FOMC Rate Decision(Jan) 2:00 PM CST - Dairy Products Sales |
FN: Feb Natural Gas(NYM)
|
| 01/31 Thu |
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly 7:30 AM CST - Chicago PMI(Jan) 7:30 AM CST - Personal Income & Spending(Dec) 9:30 AM CST - EIA Natural Gas Report 2:00 PM CST - Cattle 3:30 PM CST - Money Supply |
FN: Feb Copper(CMX)
Feb Gold & Silver(CMX) Feb Platinum & Palladium(NYM) LT: Jan Feeder Cattle(CME) Jan Fed Funds(CME) Feb RBOB & ULSD(NYM) Jan Feeder Cattle Options(CME) Jan Fed Funds Options(CME) Feb Lumber Options(CME) |
| 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!
