November 1, 2013 - Issue #709

In This Issue

1. Top factors to consider when choosing a commodity broker
2. Hot Market Review - Nymex Crude Oil Likely to See Still More Downside Price Pressure
3. Economic Calendar

1. Top factors to consider when choosing a commodity broker

By: John Thorpe - Senior Cannon Trader Broker

With many economists, researchers and traders calling for the next bull market in commodities, and you have disposable risk capital to take advantage of these potential trends you may be asking yourself – How can I begin my search for a solid reliable Futures Broker? I have included 9 items below that you should be cognizant of to assist you in finding a reliable partner for your commodity trading needs.

1. The Futures Brokers history

How long has the Futures Broker been in business? What is the commodity trading brokersregulatory history? you can check here by selecting BASIC then responding to the prompts to bring up a regulatory profile of the firms or individuals that you are interested in researching.http://www.nfa.futures.org/ Many times you will be able to find a nuisance regulatory issue and other times you may find regulatory actions that would cause you to pause. If you pause, move on to another broker as all legitimate Commodity Futures Brokers must be registered with the National Futures Association (NFA). if you can’t find your broker on the NFA website, you may not be dealing with a regulated entity.

2. Trading Platform choices

You would be looking for a Discount Futures broker if platform choice is critical to your trading strategy. Opportunities to use a variety of tools and risk management software to enhance your trading experience as an online, self-directed trader will vastly improve your traders toolbox. Preferably you will want to use a Discount futures broker that can offer a wide array of trading solutions software to execute your plan. Not all Platforms and Data feeds are alike and in this day of wifi and internet , the speed and accuracy of your software will be critical to your success, not to mention the bandwidth you will be piping into your computer.

3. Know what you are looking for.. strictly online self- directed or broker assist , or for the time constrained investor, a managed portfolio

Believe it or not many Discount Futures Brokers who specialize in self directed traders don’t have qualified staff to effectively answer more complex questions about markets, market mechanics, order mechanics and risk management techniques. If you are a beginning trader or a novice it is highly recommended that you employ the services of an experienced futures broker to assist you in avoiding many of the pitfalls that are inherent in any endeavor that you engage in, especially in Futures Trading. Once you are accomplished and master a few techniques, the broker can offer a trading platform with lower fees from which to trade. The extra money spent for his or her services will save you from making very expensive mistakes in the DIY or “Do-it-yourself” mode and provide you with a solid foundation from which to build

....Read More by filling out the form below.

If you like this Newsletter, Please share!

2. Hot Market Review - Nymex Crude Oil Likely to See Still More Downside Price Pressure

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 www.jimwyckoff.com click on image below to enlarge

Crude oil is arguably the leader of the raw commodity sector. It is leading general price weakness in the raw commodity sector. The crude oil bears are in firm control as a downtrend line is in place. It appears prices are headed still lower in the near term, with an eventual downside target of $90.00 a barrel. For the oil bulls to begin to gain upside momentum to suggest a market bottom is in place, they will have to produce a close back above what is now major psychological resistance at $100.00 a barrel.

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!