June 1, 2012 - Issue #638
In This Issue
1. Advanced order entry and charting software without monthly charge!
2. Hot Market - Gold Soars on Safe Haven buying, Panic Short Covering
3. Economic Calendar
Featured Articles This Week
a. How simple line can improve your trading
1. Advanced order entry and charting software without monthly charge!
Cannon Trading Company offers one of the most advanced, yet simple order entry engines which many clients feel is much better than other platforms they used and paid monthly fees for in the past.
E-Futures Int'l is a free software that includes, advanced charting, trade mode in charts, server side OCO orders, options, time release orders, multiple target exits, Excel DDE execution, connectivity to Trade Station systems and much more!
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2. Hot Market - Gold Soars on Safe Haven buying, Panic Short Covering
By Jim Wyckoff
Comex gold futures prices traded sharply higher and soared to a fresh three-week high Friday, in the aftermath of a much-weaker-than-expected U.S. jobs report that has quickly put U.S. quantitative easing of monetary policy back on the table. August gold futures pushed above what was stiff psychological resistance at the $1,600.00 level. The bulls have gained fresh upside technical momentum as price action Friday scored a bullish "outside day" up on the daily bar chart--whereby the high is higher and low is lower than the previous session's trading range, with a higher last trade. Prices are also poised to close at a technically bullish weekly high close on Friday.
Disclaimer:
Trading commodity futures and options involves substantial risk of loss. The recommendations 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 futures 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!
3. Economic Calendar
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 06/01 Fri |
7:30 AM CDT - Ave Workweek & Hourly Earnings(May)
7:30 AM CDT - Nonfarm Payrolls(May) 7:30 AM CDT - Personal Income & Spending(Apr) 7:30 AM CDT - Unemployment Rate(May) 9:00 AM CDT - Construction Spending(Apr) 9:00 AM CDT - ISM Index(May) 1:00 PM CDT - Auto & Truck Sales(May) |
LT: Jun Live Cattle Options(CME)
Jul Cocoa Options(ICE) |
| 06/04 Mon |
9:00 AM CDT - Factory Orders(Apr) | FN: Jun Live Cattle(CME)
Jun Heating Oil(NYM) Jun RBOB Gasoline(NYM) |
| 06/05 Tues |
9:00 AM CDT - ISM Services(May) | |
| 06/06 Wed |
6:00 AM CDT - MBA Mortgage Purchase Index
7:30 AM CDT - Dairy Products Prices 7:30 AM CDT - Productivity-Rev(Q1) 7:30 AM CDT - Unit Labor Costs-Rev(Q1) 9:30 AM CDT - API & DOE Energy Stats 1:00 PM CDT - Fed's Beige Book(May) |
|
| 06/07 Thurs |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 9:30 AM CDT - EIA Gas Storage 2:00 PM CDT - Consumer Credit 3:30 PM CDT - Money Supply |
|
| 06/08 Fri |
7:30 AM CDT - Trade Balance(Apr)
9:00 AM CDT - Wholesale Inventories(Apr) |
LT: Jun Canadian Dollar Options(CME)
Jun Currencies Options(CME) Jun US dollar Index Options(ICE) Jul Coffee Options(ICE) |
* 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!
