October 4th, 2019 - Issue #984
In This Issue
1. Trading 201: VIDEO - Simpler Approach to Day Trading
2. Hot Market Report: Soybeans Futures Pushing Higher?
3. Economic Calendar
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1. Trading Video: How I like to day-trade futures using either counter trend or trend following concepts ( or what I call simpler approach to day trading)
In this 25 minutes video you will learn the following:
1. Possible advantages of using range bar charts over time charts for day trading2. Trade set ups using counter trend indicators
3. Trade set ups using trend following indicators
4. The concept of price confirmation
5. Tips and insights from Ilan's observations of different markets
6. You will be able to install the indicators/concepts mentioned and practice right away with your own demo!
View Video Instantly "simple approach to Day Trading"
Cannon Trading respects your privacy and will never give this information to a 3rd party.
2. Hot Market Report: Soybeans Futures Pushing Higher?
By Matt Kang, Senior BrokerClick on image below to enlarge
This week’s highlighted Market is soybeans. Soybeans futures are part of the GRAINS family which includes 4 types of Wheat, Corn, Soymeal, Oats, Rough Rice and Bean Oil. All traded on the CBOT/GLOBEX exchange.
Daily chart from this morning, (Oct 4th 2019).
A bullish quarterly grain stock report released on Monday (09/30) caused the market to push higher and played a pivotal role in the uptrend in soybean market. USDA currently estimates 47.9 bpa and this year’s crop report looks better than it will yield, and USDA might start to reflect that in next Thursday’ Crop Production report. A bull market is expected from both technical and fundamental sides in my opinion.
This chart was prepared using E-Futures Int'l software, which you can demo for 28 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.
Soybean Futures Specs
Hours: 7:00 PM to 1:20 PM next day PM Central Time
Margins: $1925 initial, $1750 Maint. ( as of the date of this newsletter)
Point Value: full Cent = $50.00 ( Example: $8.60 to $8.61/bu ). Min fluctuation is 2/8ths of a cent = $12.50 ( Example: 8.60 -8.602) Settlement: Deliverable, FND is last business day preceding the contract month
Months: January (F), March (H), May (K), July (N), August (Q),September (U), November(X)
Weekly Options: YES
The bean market has good volume and enough volatility that it can be traded intraday, swing trading, using options and more.
Some of the basic fundamentals to keep in mind when you are considering trading ZS ( Soybean)
1. Longer term view of current market prices
2. Dates and times of important reports. WASDE, Planting intentions, Crop progress
3. Weather
4. Global Political situation (food often used as a weapon in trade)
4. Dollar strength or lack of, Brazilian Real value
Our brokers here at Cannon will be happy to chat about the Bond market, other interest rate products, 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 |
|---|---|---|
| 10/07 Mon |
2:00 PM CDT - Consumer Credit(Aug)
3:00 PM CDT - Crop Progress |
FN: Oct Live Cattle(CME)
|
| 10/08 Tue |
7:30 AM CDT - Core PPI & PPI(Sep)
3:30 PM CDT - API Energy Stocks |
LT: Nov Sugar-16(ICE)
|
| 10/09 Wed |
6:00 AM CDT - MBA Mortgage Index
9:00 AM CDT - Wholesale Inventories(Aug) 9:30 AM CDT - EIA Petroleum Status Report 2:00 PM CDT - Dairy Products Sales |
FN: Nov Sugar-16(ICE)
LT: Oct Cotton(NYM) |
| 10/10 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Core CPI & CPI(Sep) 9:30 AM CDT - EIA Natural Gas Report 11:00 AM CDT - WASDE Report & Crop Production 3:30 PM CDT - Money Supply |
|
| 10/11 Fri |
7:30 AM CDT - Export & Import Prices(Sep)
7:30 AM CDT - Export(ex-ag) & Import(ex-oil) Prices(Sep) 9:00 AM CDT - Univ of Mich Consumer Sent-Prelim(Oct) |
LT: Oct Mx Peso(CME)
Oct Eurodollar Options(CME) Nov Coffee Options(ICE) |
| 10/14 Mon |
COLUMBUS DAY
|
LT: Oct Eurodollar(CME)
Oct Lean Hogs(CME) Oct Soymeal(CBT) Oct Soyoil(CBT) Oct Lean Hogs Options(CME) |
| 10/15 Tue |
7:30 AM CDT - Empire State Manufacturing(Oct)
11:00 AM CDT - NOPA Crush 3:00 PM CDT - Crop Progress |
LT: Nov Sugar-11 Options(ICE)
|
| 10/16 Wed |
7:30 AM CDT - Retail Sales(Sep)
9:00 AM CDT - Business Inventories(Aug) 1:00 PM CDT - Beige Book(Sep) 3:30 PM CDT - API Energy Stocks |
LT: Nov Platinum Options(NYM)
Nov Palladium Options(NYM) |
| 10/17 Thu |
7:30 AM CDT - Building Permits & Housing Starts(Sep)
7:30 AM CDT - Initial Claims-Weekly 8:15 AM CDT - Capacity Util & Industrial Prod(Sep) 9:30 AM CDT - EIA Natural Gas Report 10:00 AM CDT - EIA Petroleum Status Report 2:00 PM CDT - Dairy Products Sales 3:30 PM CDT - Money Supply |
LT: Nov Crude Lt Options(NYM)
|
| 10/18 Fri |
7:30 AM CDT - USDA Weekly Export Sales
9:00 AM CDT - Leading Indicators(Sep) |
LT: Oct Nikkei Options(CME)
Nov Cotton Options(NYM) Nov Orange Juice Options(ICE) |
| 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!
