In This Issue
E-cbot Ags and Equities to Migrate to Globex Platform
January Futures Trading Forecast
Economic Reports and Expiration Notices
Effective after the close of trading on Friday, January 11th, E-cbot Agricultural and Equity products (both futures and options) will no longer trade on the E-cbot platform as these products will migrate to the Globex trading platform. This will include the Minneapolis and Kansas City Ag products. All current Mtrade symbols will stay the same with the only changes being the symbols for the AIG Commodity Index (AW), mini-soybeans (XK) and Ethanol (EH). In Mtrade we will disable the E-cbot Grain and Equity symbols so that there is no confusion. The ZC (E-cbot) symbol will become ZC (GBX). There is no change in the price formatting for futures contracts.
After the close on Friday, Jan. 11th all remaining GTC and GTD orders will be removed from the E-cbot platform. You will need to re-enter your GTCs/GTDs using the same symbol, but using GBX (Globex) as the Exchange. Globex will provide an extended pre-opening session on Friday, Jan. 11th from 2:30pm to 4:30pm to allow everyone to re-enter their GTCs.
With the migration of these E-cbot products to the Globex platform also comes a change in trading hours. As of Sunday January 13th, the Grains will begin trading at 6pm CDT instead of the normal 6:30pm opening. The $5 and $10 Dow will begin trading at 5:00pm on Sundays with a 3:30pm opening Monday thru Thursday. The $5 Dow will trade the same hourly sequence as the E-mini S&P.
The move from the E-cbot platform to the Globex platform has great benefits as the Globex trading platform is regarded as one of the most efficient and stable platforms in the financial industry.
Happy New Year from all of us at Cannon Trading and best wishes for a happy, healthy, and successful 2008!
Equity markets wrapped up 2007 with respectable overall gains despite the pummeling taken by the heavily weighted financial sector. The S&P 500 ended the year up more than three percent, while the Nasdaq rose nearly ten percent; the European indices delivered even stronger performances. Yet dramatic market volatility remains the order of the day, as credit market turmoil unfolds and inflation pressures mount.
These delicate market conditions leave Fed Chief Ben Bernanke in a pickle. Inflation indicators have been growing in recent months even as the housing market continues to waste away, and a raft of mortgage resets kick in early this year. The Fed has introduced creative measures—in the form of the new Term Auction Facility (TAF)—to improve the liquidity situation. But the fact that it is taking steps like this shows how reluctant the FOMC is to lower rates again, unless, of course, the economic situation becomes dire enough to eclipse concerns about inflation. This month a variety of events—including Q4 earnings reports, monthly economic data and geopolitical events—will influence the markets leading up to another highly anticipated FOMC rate decision on January 30.
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Disclaimer:
Trading commodity futures and options involves substantial risk of loss. The recommendations 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 futures 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!
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
|---|---|---|
| 01/03 Thu |
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly 9:00 AM CST - Factory Orders(Nov) 9:30 AM CST - API & DOE Energy Stats 3:30 PM CST - Money Supply Auto & Truck Sales |
|
| 01/04 Fri |
7:30 AM CST - Nonfarm Payrolls & Unemploy Rate(Dec) 7:30 AM CST - Ave Workweek & Hourly Earnings(Dec) 9:00 AM CST - ISM Services(Dec) 9:30 AM CST - EIA Gas Storage 2:00 PM CST - Dairy Products Prices |
|
| 01/07 Mon |
|
|
| 01/08 Tue |
9:00 AM CST - Pending Home Sales(Nov)
2:00 PM CST - Consumer Credit(Nov) |
|
| 01/09 Wed |
9:30 AM CST - API & DOE Energy Stats
|
|
| 01/10 Thu |
7:30 AM CST - Import & Export Prices(Dec)
7:30 AM CST - Trade Balance(Nov) 7:30 AM CST - USDA Weekly Export Sales 7:30 AM CST - Initial Claims-Weekly 9:00 AM CST - Wholesale Inventories(Nov) 9:30 AM CST - EIA Gas Storage 1:00 PM CST - Treasury Budget(Dec) 3:30 PM CST - Money Supply |
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* 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!