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November 4th 2016 Newsletter

Ranking market events or knowing what you don't know and crude oil flirting with major support

November 4th, 2016 - Issue #851

In This Issue

1. Trading 101: Ranking Market Events ( knowing what you don't know...)
2. Hot Market Report: Crude Oil Dropping to the Bottom of its Recent Trading Range
3. Economic Calendar

1. Trading 101: Ranking Market Events ( knowing what you don't know...)

by: Cannon Trading Staff

Every trader has done it. You've done it, your friends have done it, even your broker has done it at one point early in their career.

Here’s the scenario:

You've finally finished your futures education at Cannon Trading Company. You've done you're homework on stops, limits, indicators and price movements for the market you're trading. You're ready to go, you enter your limit order and you wait.




You get filled. Your heart rate picks up, a wry smile crosses your face and you begin to imagine the possibilities of the one trade you're in: How much can I make? How much can I lose before it's too much? You’ve waited through months of technical trading and deep meditation to get here, and now it’s finally paying off with one of your first trades in the live market. Sayonara paper trading; aloha live futures.

Then, all of a sudden, the top of the hour hits and the market starts acting up. It's getting more volatile and more volatile; it’s picking up speed and taking an unforgiving turn against you. You can’t think straight, all you can think about is your losing position that could get worse and worse as the seconds go by. You race to put in a stop order, but you finally have to settle for a market order just to stop the bleeding. You stare.




You’re out of the market. What the hell just happened? You stare at the screen; did your indicators lie to you? Is your system faulty? Did you not listen to your broker? Well, probably not. But you're down several handles, you’ve lost some money and your pride is aching...

Read the Rest of the Article

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2. Hot Market Report - Crude Oil Dropping to the Bottom of its Recent Trading Range

From our friend Jim Wyckoff

Jim has an excellent daily newsletter where he reviews different markets, alerts you for potential trades and much more. Included is his great bi-weekly newsletter with charts and a little longer term outlook. We recommend checking out his website, educational CDROM, and services at click on image below to enlarge

crude oil Futures

December Nymex crude oil futures prices dropped to a five-week low this week. Bears still have downside technical momentum. Given recent price history in the oil market, it appears Nymex futures prices will drop into the low $40s per barrel and then rebound into the mid-$40s. The oil market has been generally trapped in a trading range between $40 and $50 for much of this year. Stay tuned!

3. Economic Calendar

Source: Moore Research Center, Inc.

Date Reports Expiration & Notice Dates
7:30 AM CDT - Ave Workweek & Hourly Earnings(Oct)
7:30 AM CDT - Nonfarm Payrolls(Oct)
7:30 AM CDT - Trade Balance(Sep)
7:30 AM CDT - Unemployment Rate(Oct)
LT: Nov Canadian Dollar Options(CME)
Nov Currencies Options(CME)
Nov Live Cattle Options(CME)
Nov Mx Peso Options(CME)
Nov US Dollar Index Options(ICE)
Dec Cocoa Options(ICE)
2:00 PM CST - Consumer Credit(Sep)

3:30 PM CST - API Energy Stocks

6:00 AM CST - MBA Mortgage Index
9:00 AM CST - Wholesale Inventories(Sep)
9:30 AM CST - EIA Petroleum Status Report
11:00 AM CST - WASDE Report & Crop Production
2:00 PM CST - Dairy Products Sales
LT: Nov Orange Juice(ICE)
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly
9:30 AM CST - EIA Natural Gas Report
1:00 PM CST - Treasury Budget(Oct)
3:30 PM CST - Money Supply

LT: Dec Cotton Options(NYM)
Dec Coffee Options(ICE)


LT: Nov Canola(CBT)
Nov Eurodollar(CME)
Nov Mx Peso(CME)
Nov Rough Rice(CBT)
Nov Soybeans(CBT)
Nov Eurodollar Options(CME)
7:30 AM CST - Empire Manufacturing(Nov)
7:30 AM CST - Export(ex-ag) & Import(ex-oil) Prices(Oct)
7:30 AM CST - Retail Sales(Oct)
7:30 AM CST - Retail Sales Ex-Auto(Oct)
9:00 AM CST - Business Inventories(Sep)
11:00 AM CST - NOPA Crush
3:30 PM CST - API Energy Stocks
LT: Nov Lumber(CME)
Dec Sugar-11 Options(ICE)

6:00 AM CST - MBA Mortgage Index
7:30 AM CST - Core PPI & PPI(Oct)
8:15 AM CST - Capacity Util & Industrial Prod(Oct)
9:00 AM CST - NAHB Housing Market Index(Nov)
9:30 AM CST - EIA Petroleum Status Report
2:00 PM CST - Dairy Products Sales
3:00 PM CST - Net Long-Term TIC Flows(Sep)
FN: Nov Lumber(CME)
Dec Cocoa(ICE)
LT: Dec Crude Lt Options(NYM)
Dec Platinum Options(NYM)
Dec Palladium Options(NYM)
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly
7:30 AM CST - Building Permits & Housing Starts(Oct)
7:30 AM CST - Core CPI & CPI(Oct)
7:30 AM CST - Philadelphia Fed(Nov)
9:30 AM CST - EIA Natural Gas Report
3:30 PM CST - Money Supply
LT: Nov Feeder Cattle(CME)
Nov 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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