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Heads up: Front month for energies is now April. Front month for bonds/ten years is June as of tomorrow. Front month for grains is May.
Another good read from our friend Peter Davies at JigSawtrading.com:
Ilan: Tell us a little bit about your trading background and how you got started trading.
Peter: In the mid 90’s I was a self employed IT Consultant and ended up living in Knoxville, TN, then I moved to Netherlands, then Denmark, then Japan and finally Thailand, where I ended up starting up an IT firm servicing the client I worked for in Japan. During this time, I managed to save a lot of money which was just sitting there. I ended up having my portfolio managed by a firm of financial advisors. After 3 years, they had lost 30% of the funds. Basically they got into everything that was hot the year before, a terrible strategy in hindsight. At one point, in a meeting with them, they told me they would get back the losses by leveraging my money. They said that all they needed was a 10% gain and the leverage would mean I recouped my losses. I asked them exactly how they would make that 10% gain and they said to me “Well, anyone can make a 10% gain given enough flexibility”. I politely re-determined them that if ‘anyone’ could make 10%, then they wouldn’t have lost 30%. I withdrew all my funds and figured if I was going to lose money, I might as well do it myself rather than paying them to do it for me.
I started out longer term investing but found that hit and miss and while I do still trade on mostly oversold stocks, it was day trading where I found techniques I was really comfortable with.
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
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Levels for Trade Date of 03.02.2017
| Contract March 2017 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2446.00 | 5480.83 | 21581 | 1454.43 | 102.84 |
| Resistance 2 | 2423.50 | 5440.42 | 21371 | 1435.17 | 102.41 |
| Resistance 1 | 2408.25 | 5412.83 | 21229 | 1423.83 | 102.08 |
| Pivot | 2385.75 | 5372.42 | 21019 | 1404.57 | 101.65 |
| Support 1 | 2370.50 | 5344.83 | 20877 | 1393.23 | 101.32 |
| Support 2 | 2348.00 | 5304.42 | 20667 | 1373.97 | 100.89 |
| Support 3 | 2332.75 | 5276.83 | 20525 | 1362.63 | 100.56 |
| Contract | Apr. Gold | May Silver | April Crude Oil | June Bonds | March Euro |
| Resistance 3 | 1269.3 | 18.79 | 54.97 | 152 26/32 | 1.0667 |
| Resistance 2 | 1260.3 | 18.65 | 54.70 | 152 | 1.0631 |
| Resistance 1 | 1255.1 | 18.55 | 54.19 | 150 27/32 | 1.0591 |
| Pivot | 1246.1 | 18.41 | 53.92 | 150 1/32 | 1.0554 |
| Support 1 | 1240.9 | 18.31 | 53.41 | 148 28/32 | 1.0514 |
| Support 2 | 1231.9 | 18.17 | 53.14 | 148 2/32 | 1.0478 |
| Support 3 | 1226.7 | 18.07 | 52.63 | 146 29/32 | 1.0438 |
| Contract | May Corn | May Wheat | May Beans | May SoyMeal | April Nat Gas |
| Resistance 3 | 393.4 | 469.4 | 1071.58 | 344.03 | 2.92 |
| Resistance 2 | 387.8 | 463.3 | 1061.92 | 341.77 | 2.87 |
| Resistance 1 | 384.9 | 460.2 | 1056.83 | 340.53 | 2.83 |
| Pivot | 379.3 | 454.1 | 1047.17 | 338.27 | 2.79 |
| Support 1 | 376.4 | 450.9 | 1042.1 | 337.0 | 2.7 |
| Support 2 | 370.8 | 444.8 | 1032.42 | 334.77 | 2.70 |
| Support 3 | 367.9 | 441.7 | 1027.33 | 333.53 | 2.66 |
All times are Eastern time Zone (EST)
source:http://www.forexfactory.com/calendar.php
| Date | 4:25pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuMar 2 | 2:00am | EUR |
German Import Prices m/m
|
0.5% | 1.9% | ||||
| 3:00am | EUR |
Spanish Unemployment Change
|
5.2K | 57.3K | |||||
| 4:00am | EUR |
Italian Monthly Unemployment Rate
|
12.0% | 12.0% | |||||
| 4:30am | GBP |
Construction PMI
|
52.2 | 52.2 | |||||
| 5:00am | EUR |
CPI Flash Estimate y/y
|
1.8% | 1.8% | |||||
| EUR |
Core CPI Flash Estimate y/y
|
0.9% | 0.9% | ||||||
| EUR |
PPI m/m
|
0.5% | 0.7% | ||||||
| EUR |
Unemployment Rate
|
9.6% | 9.6% | ||||||
| Tentative | EUR |
Spanish 10-y Bond Auction
|
1.73|3.0 | ||||||
| Tentative | EUR |
French 10-y Bond Auction
|
1.07|2.1 | ||||||
| 7:30am | USD |
Challenger Job Cuts y/y
|
-38.8% | ||||||
| 8:30am | USD |
Unemployment Claims
|
243K | 244K | |||||
| 10:30am | USD |
Natural Gas Storage
|
-5B | -89B |
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 here in 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 judgement in trading.