November 20th, 2015 - Issue #810

In This Issue

1. Stock Market Outlook by Carbide Capital CTA
2. Thanksgiving Holiday Hours
3. Economic Calendar

1. Stock Market Outlook by Carbide Capital CTA

What we like about Carbide CTA is their relatively low volatility of account equity and the non correlation to stock market performance

CTA Highlights:
• Discretionary CTA providing non-correlated returns through a long/short S&P options strategy
• Portfolio manager was previously the head trader for a multi-billion dollar hedge fund
• Comprehensive investment process incorporates fundamental data, technical analysis, and volatility into trading decisions

Carbide Capital outlook by CIO, Aaron Wallace

Market Outlook:
• Further upside in S&P 500 likely in near term, but volatility could increase
• Higher rates do not necessarily mean bull market will end
• Negative earnings and revenue growth remain headwind
After a significant correction occurred in August-September, the equity market experienced a sharp V-shaped recover during October. Now that the S&P 500 is approximately 3% from its all-time highs, it seems likely that equities could continue their ascent.

Download the PDF and read complete outlook

2.  Thanksgiving 2016 Holiday Schedule

Globex & Ice Futures Thanksgiving Holiday Schedule 2015

*Dates and times are subject to change

Equity Products

Wednesday, Nov 25

1600 CT / 1700 ET / 2200 UTC – Regular close

1700 CT / 1800 ET / 2300 UTC – Regular open for trade date Friday, Nov 27*

Thursday, Nov 26

1200 CT / 1300 ET / 1800 UTC – Trading halt (pre-open)

1700 CT / 1800 ET / 2300 UTC – Products resume trading

Friday, Nov 27

1215 CT / 1315 ET / 1815 UTC – Early close

Interest Rate & FX Products

Wednesday, Nov 25

1600 CT / 1700 ET / 2200 UTC – Regular close

1700 CT / 1800 ET / 2300 UTC – Regular open for trade date Friday, Nov 27*

Thursday, Nov 26

1200 CT / 1300 ET / 1800 UTC – Trading halt (pre- open)

1700 CT / 1800 ET / 2300 UTC – Products resume trading

Friday, Nov 27

1215 CT / 1315 ET / 1815 UTC – Early close

Energy, Metals & DME Products

Wednesday, Nov 25

1600 CT / 1700 ET / 2200 UTC – Regular close

1700 CT / 1800 ET / 2300 UTC – Regular open for trade date Friday, Nov 27*

Thursday, Nov 26

1200 CT / 1300 ET / 1800 UTC – Trading halt (pre-open)

1700 CT / 1800 ET / 2300 UTC – Products resume trading

Friday, Nov 27

1245 CT / 1345 ET / 1845 UTC – Early close

Globex® Thanksgiving Holiday Schedule

Grain, Oilseed & MGEX Products

Wednesday, Nov 25

Regular Close - Per each product schedule

1645 CT / 1745 / 2245 UTC - Products will be in a pre-open until

0830 CT / 0930 ET / 1430 UTC Friday, Nov 27*

Friday, Nov 27

0700 CT / 0800 ET / 1400 UTC – MGEX Apple Juice – regular open

0830 CT / 0930 ET / 1430 UTC – Grain, Oilseed & MGEX products open

1205 CT / 1305 ET / 1805 UTC – Early close

1215 CT / 1315 ET / 1815 UTC – Early MGEX Wheat & Apple Juice close

1230 CT / 1330 ET / 1830 UTC – Early Mini-Sized grain close

1230 CT / 1330 ET / 1830 UTC – Early MGEX Indices close

Livestock, Dairy & Lumber Products

Wednesday, Nov 25

Regular close - Per each product schedule for:

• Livestock

• Dairy

• Lumber

Friday, Nov 27

900 CT / 1000 ET / 1500 UTC - Lumber market open

800 CT / 900 ET / 1400 UTC - Livestock markets open

1200 CT / 1300 ET / 1800 UTC – Early close for Lumber

1202 CT / 1302 ET / 1801 UTC – Early close for Lumber Options

1215 CT / 1315 ET / 1815 UTC – Early close for Livestock Futures & Options

Note: Dairy products will remain closed until 1700 CT / 1800 ET / 2300 UTC Sunday, Nov 29

For a complete list of Globex schedules please reference the Excel version of the

Holiday calendar.

If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe

at +44 800 898 013 or in Asia at +65 6532 5010

More details at: http://www.cmegroup.com/tools-information/holiday-calendar/files/2015-thanksgiving-holiday-schedule.pdf

The above sources were compiled from sources believed to be reliable. Cannon Trading 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 closing times for certain contracts may have been rescheduled.

Ice Futures Thanksgiving Holiday Schedule

For full details please use this link: https://www.theice.com/publicdocs/futures_us/exchange_notices/ExNot2015Holidays.pdf

The above sources were compiled from sources believed to be reliable. Cannon Trading 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 closing times for certain contracts may have been rescheduled.

3. Economic Calendar

Source: Moore Research Center, Inc.

* 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!