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August 17th, 2018 Newsletter

Gold Futures Lead Metals Lower and Trading Challenge Starts Sunday Night

August 17th, 2018 - Issue #932

In This Issue

1. Trading Challenge Starts TONIGHT - Do you have what it takes?
2. Hot Market Report: Gold Futures Leading Metals Lower
3. Economic Calendar

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1. Trading Challenge - Do you have what it takes?

Trading Competition

Start: August 19th at 5 PM CT

End: August 31st at 4 PM CT

Prizes (Commission Credits)

First Place: $1,000

Second Place: $500

Third Place: $250

Competition Details

  • All trades will be completed in the GAIN Trader Simulated Trading Environment using the white-labeled Contest Trader application
  • All traders will begin with a virtual account of $100,000. Your goal: increase the balance to as much as possible by the conclusion of the competition
  • Choose to trade from CME Group’s Gold(GGC), Crude Oil(GCL), Corn(ZC), Wheat(ZW), Soybean(ZS) products, and the 10-year treasury note(ZN)
  • Top three traders with the highest P&L balance at the end will get commission credits towards their live account trading post the contest
  • Contestants do not need to have a current live or active account, but the commission credits to the winners will only be credited to live trading on GAIN Capital Futures accounts

Rules/Guidelines

  • This trading completion is limited to non-professional individuals only. Entities and NFA registered persons are not eligible
  • Simulated commission charges set at $5.00 per side inclusive of fees
  • Only 1 demo account is permitted per client for the contest
  • Futures only will be traded
  • Top 10 rankings will be updated prior to the next trading day on https://gainfutures.com/ at close of market, with the winners announced Tuesday September 4, 2018
  • Using the Contest Trader front-end trading application will be mandatory amongst all contestants

 

Do you have what it takes?

 

Good Trading

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

Important: Trading commodity futures and options involves a substantial risk of loss. The recommendations contained in this letter are of opinion only and do not guarantee any profits. There is not an actual account trading these recommendations. Past performances are not necessarily indicative of future results.

2. Hot Market Report: Gold Futures break $1200 mark and lead metals complex lower!

By Ilan Levy-Mayer

Click on image below to enlarge

Gold Gold futures have been on a lower trend now for the past 4 months but even more pronounced over the last six weeks. The decline in both precious and base metals over the last 4-6 months can be attributed in large part to the stronger U.S. dollar – currently hovering at a 14-month peak. Generally dollar-priced, these assets become more expensive for purchase in other currencies. Gold is down over 14% from its April highs to 1 ½ yr. lows, Silver traded at levels not seen since Feb. ’16, Platinum, now trading below $800/ounce is challenging 3-year lows and palladium is down to one-year lows.
I like gold futures for day trading, swing trading, long term trades, options and futures. Gold is a liquid, volatile market and for me personally that is a good fit.

Weekly chart of gold futures for your review from this morning ( August 17th 2018). You can see the market got into the "red zone" in the end of May and since then got into the "double red zone" where you see both a red bar and a red triangle on top. At the time I am writing this newsletter, the market is below the psychological 1200 mark and the next target is the low from Dec. 2016 at 1123.9
To access a free trial to the ALGOS shown in the chart visit and sign up for a free trial for 21 days with real-time data.
GOLD Futures Specs
Hours: 05:00 PM previous day to 4:00 PM Central Time
Margins: $3460 initial, $3100 Maint. ( as of the date of this newsletter)
Point Value: full point = $100 ( Example: 1185.0 to 1186.0 ). Min fluctuation is 0.1 = $10 ( Example: 1185.5 to 1185.6) Settlement: Physical Delivery
Months: February, April, June, August, October,December. G,J,M,Q,V,Z
Weekly Options:YES

Some of the basic fundamentals to keep in mind when you are considering trading gold futures for this matter:
1. Research supply side in major producing countries.
2. Follow both the jewelry demand and investment demand for silver
3. Focus in macroeconomics not microeconomics
4. Correlation to silver and platinum
5. Correlation to US Dollar prices
6. Inflationary prospects
7. Geopolitical Stability
8. U.S. Fiscal and Monetary Stability

Our brokers here at Cannon will be happy to chat about the gold 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
08/17
Fri
9:00 AM CDT - Leading Indicators(Jul)
9:00 AM CDT - Univ of Mich Consumer Sentiment-Prelim(Aug)
 
 
LT: Aug Nikkei Options(CME)
Aug Russell Options(CME)
Sep Cotton Options(NYM)
Sep Orange Juice Options(ICE)

08/20
Mon
2:00 PM CDT - Milk Production
 
 
 
FN: Sep Cocoa(ICE)
 
 
 
08/21
Tue
3:30 PM CDT - API Energy Stocks
 
 
 
LT: Sep Crude Lt(NYM)
 
 
 
08/22
Wed
6:00 AM CDT - MBA Mortgage Index
9:00 AM CDT - Existing Home Sales(Jul)
9:30 AM CDT - EIA Petroleum Status Report
2:00 PM CDT - Cold Storage
2:00 PM CDT - Dairy Products Sales

 
 
 
08/23
Thu
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims Weekly
8:00 AM CDT - FHFA Housing Price Index(Jun)
9:00 AM CDT - New Home Sales(Jul)
9:30 AM CDT - EIA Natural Gas Report
3:30 PM CDT - Money Supply
FN: Sep Coffee(ICE)
Sep Crude Lt(NYM)

 
08/24
Fri
7:30 AM CDT - Durable Goods-Ex Transportation(Jul)
7:30 AM CDT - Durable Orders(Jul)
2:00 PM CDT - Cattle On Feed
 
LT: Sep 2,5,10 Year Notes Options(CBT)
Sep Bonds Options(CBT)
Sep Wheat Options(CBT)
Sep Corn Options(CBT)
Sep Oats Options(CBT)
Sep Rough Rice Options(CBT)
Sep Soybeans,Soymeal,Soyoil Options(CBT)
08/27
Mon

 
 
 

 
 
 
08/28
Tue
9:00 AM CDT - Consumer Confidence(Aug)
3:30 PM CDT - API Energy Stocks
 
 
LT: Aug Butter(CME)
Aug Milk(CME)
Aug Butter Options(CME)
Aug Milk Options(CME)
Sep Copper Options(CMX)
Sep Gold Options(CMX)
Sep Silver Options(CMX)
Sep Natural Gas Options(NYM)
Sep RBOB & ULSD Options(NYM)
08/29
Wed
6:00 AM CDT - MBA Mortgage Inex
7:30 AM CDT - GDP-Second Estimate(Q2)
7:30 AM CDT - GDP Deflator-Second Estimate(Q2)
9:00 AM CDT - Pending Home Sales(Jul)
9:30 AM CDT - EIA Petroleum Status Report
2:00 PM CDT - Dairy Product Sales
LT: Aug Copper(CMX)
Aug Gold(CMX)
Aug Silver(CMX)
Aug Platinum(NYM)
Aug Palladium(NYM)
Sep Natural Gas(NYM)
08/30
Thu
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - PCE Prices & Core(Jul)
7:30 AM CDT - Personal Income & Spending(Jul)
9:30 AM CDT - EIA Natural Gas Report
3:30 PM CDT - Money Supply
FN: Sep 2,5,10 Year Notes(CBT)
Sep Bonds(CBT)
Sep Natural Gas(NYM)
LT: Aug Feeder Cattle(CME)
Aug Feeder Cattle 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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