In This Issue

December 19th, 2007 — Issue #408

Happy Holidays!

Seasons Greetings

Christmas Trading Schedule

*All times listed in Central Daylight Time

Monday, December 24

CBOT
Floor:
12:00 close: Financial and Agricultural contracts
12:15 close: Equity contracts
12:30 close: Mini-sized Ags
Regular close: Metals and DOW-AIGcontracts

eCBOT:
12:00 close: Agricultural contracts
12:30 close: Mini-sized Ags and Equity contracts
1:00 close: Financial contracts
Regular close: Metals and DOW-AIG contracts
Overnight eCBOT closed

CME
Floor:
12:00 close: Foreign exchange, Commodity, interest rate, GSCI, weather, and housing contracts
12:02 close: Commodity options
12:15 close: Equity Indexes
*Dairy and Dairy Spot Calls Closed

GLOBEX:
12:00 close: Commodity, GSCI, GSCI Excess Return and weather contracts
12:15 close: Foreign exchange, Equity, ETFs, real estate and Interest rate contracts

Nymex/Comex
Floor:
Regular close

CME Globex and Clearport:
Regular close

NYBOT/ICE
1:00 close: Financial and Stock Index
* Electronic Softs Closed

OneChicago
Regular close

NYSE
1:00 close

Tuesday, December 25

CBOT
Floor:
Closed

eCBOT:
Closed:
Daytime and Overnight eCBOT Closed
*Financial Contracts open at 6:00 am on Wed, Dec 26
*Equity and Metals Contracts open at 6:15 am on Wed, Dec 26
* $10 DJIA closed for trade on Wed, Dec 26

CME
Floor:
Closed

GLOBEX:
5:00 pm Open: NYMEX/COMEX Contracts
* Globex contracts open at 5:00 am Wed, Dec 26

Nymex/Comex
Floor:
Closed

CME Globex and Clearport:
6:00 pm Open

NYBOT/ICE
Closed

OneChicago
Closed

NYSE
Closed

*All times listed in Central Daylight Time

The above calendar is 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.

Economic Reports and Expiration Notices

Source: Moore Research Center, Inc.

Date	Reports	Expiration & Notice Dates
12/20 Thu	7:30 AM CST - GDP-Final(Q3) 7:30 AM CST - Chain Deflator-Final(Q3) 7:30 AM CST - USDA Weekly Export Sales 7:30 AM CST - Initial Claims-Weekly 9:00 AM CST - Leading Indicators(Nov) 9:30 AM CST - EIA Gas Storage 11:00 AM CST - Philadelphia Fed(Dec) 3:30 PM CST - Money Supply	LT: Dec S&P 500(CME) Dec Nasdaq 100(CME) Dec DJIA(CBT) Dec S&P 500 Options(CME) Dec Nasdaq 100 Options(CME)
12/21 Fri	7:30 AM CST - Personal Income & Spending(Nov) 7:30 AM CST - Core PCE Inflation(Nov) 7:30 AM CST - Cotton Ginnings 9:00 AM CST - Michigan Sentiment-Rev(Dec) 2:00 PM CST - Cattle On Feed 2:00 PM CST - Cold Storage 2:00 PM CST - Livestock Slaughter 2:00 PM CST - Dairy Products Prices	LT: Dec E-Mini S&P 500(CME) Dec E-Mini S&P 500 Options(CME) Jan US T-Bond Options(CBT) Jan Oat Options(CBT) Jan Soybean Options(CBT) Jan Rough Rice Options(CBT) Jan Soybean Meal Options(CBT) Jan Soybean Oil Options(CBT)
12/24 Mon
12/25 Tue	Christmas Day Holiday
12/26 Wed	9:30 AM CST - API & DOE Energy Stats	LT: Dec Gold(CMX) Dec Silver(CMX) Dec Copper(CMX) Dec Platinum(NYM) Dec Palladium(NYM)
12/27 Thu	7:30 AM CST - Durable Orders(Nov) 7:30 AM CST - USDA Weekly Export Sales 7:30 AM CST - Initial Claims-Weekly 9:00 AM CST - Consumer Confidence(Dec) 9:30 AM CST - EIA Gas Storage 2:00 PM CST - Quarterly Hogs & Pigs 3:30 PM CST - Money Supply

* 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!