Trading futures requires research of particular markets (planning ahead and analyzing market behavior), a well thought out strategy when it comes to trading a particular futures market, and finding the right futures trading platform that allows you to execute your trading strategy. There is no Holy Grail or one right answer when it comes to trading futures. Many new traders think that trading in and out of the market for a one or two tick profit target will make them a large sum of money. And that’s definitely not the case. Futures markets can hold somewhat unpredictable terms when trading.
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2. Hot Market Review - Corn in a Major Bear Market
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 www.jimwyckoff.com click on image below to enlarge
New-crop December corn futures this week slumped to a 2.5-year low as a major bear market is playing out. Wetter and cooler weather in the U.S. Corn Belt has been the big bearish fundamental that has allowed prices to drop sharply. While my bias is that there is not strong selling pressure left in this very mature bear market, would-be bulls need to be prudent and wait for a significantly bullish technical clue to suggest a market bottom is in place. Such has not occurred yet. My job is to alert my valued customers, via my Daily Markets Update email report, on the very early clues that do suggest trend changes are imminent.
6:00 AM CDT - MBA Mortgage Purchase Index
7:15 AM CDT - ADP Employment Change(Jul)
7:30 AM CDT - Chain Deflator-Adv(Q2)
7:30 AM CDT - Employment Cost Index(Q2)
7:30 AM CDT - GDP-Adv(Q2)
8:45 AM CDT - Chicago PMI(Jul)
9:30 AM CDT - API & DOE Energy Stats
1:00 PM CDT - FOMC Rate Decision
3:00 PM CDT - Dairy Product Sales
FN: Aug Copper(CMX)
Aug Gold(CMX)
Aug Silver(CMX)
Aug Platinum(NYM)
Aug Palladium(NYM)
Aug Soybeans,Soymeal,Soyoil(CBT)
LT: Jul Fed Funds(CME)
Aug Heating Oil(NYM)
Aug RBOB Gasoline(NYM)
Jul Fed Funds Options(CME)
Aug Lumber Options(CME)
08/1 Thurs
6:30 AM CDT - Challenger Job Cuts(Jul)
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
9:00 AM CDT - Construction Spending(Jun)
9:00 AM CDT - ISM Index(Jul)
9:30 AM CDT - EIA Gas Storage
1:00 PM CDT - Auto & Truck Sales(Jul)
3:30 PM CDT - Money Supply
08/2 Fri
7:30 AM CDT - Ave Workweek & Hourly Earnings(Jul)
7:30 AM CDT - Nonfarm Payrolls(Jul)
7:30 AM CDT - PCE Prices-Core(Jun)
7:30 AM CDT - Personal Income & Spending(Jun)
7:30 AM CDT - Productivity-Prel(Q2)
7:30 AM CDT - Unemployment Rate(Jul)
9:00 AM CDT - Factory Orders(Jun)
FN: Aug Heating Oil(NYM)
Aug RBOB Gasoline(NYM)
LT: Aug Live Cattle Options(NYM)
Sep Cocoa Options(ICE)
08/05 Mon
9:00 AM CDT - ISM Services(Jul)
FN: Aug Live Cattle(NYM)
* 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!
RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.