In This Issue
May '08 Wheat, Turning Over a New Leaf
Economic Reports and Expiration Notices
Special note: due to recent market volatility, there have been some changes to current margins. Please view our margin requirements page for the latest information.
by MF Global Research
Excerpt
MFGR believes that price direction in gold over the next 6-12 months will be more the result of a favorable environment than supply/demand fundamentals. That environment will be dominated by safe haven from weakness in stocks and the dollar, as well as by the growing popularity of commodities. Prices should easily move above $1,000/oz by the end of Q1 and could potentially spike up toward $1,200/oz sometime during the remainder of the year. The positive environment should remain in place until late-2008, when bullish factors are forecast to diminish. Gold prices could then form a peak and begin a longer-term trend lower, which would eventually take the market down toward $700/oz in 2009/2010. MFGR is in favor of buying dips in the near-term and targeting $1,100-$1,200.
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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 |
|---|---|---|
| 03/27 Thu |
7:30 AM CDT - GDP-Final(Q4) 7:30 AM CDT - Chain Deflator-Final 7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Initial Claims-Weekly 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
LT: Mar Copper(CMX)
Mar Platinum(NYM) Mar Silver(CMX) Mar Gold(CMX) Apr Natural Gas(NYM) |
| 03/28 Fri |
7:30 AM CDT - Personal Income & Spending(Feb)
7:30 AM CDT - Core PCE Inflation(Feb) 7:30 AM CDT - Dairy Products Prices 9:00 AM CDT - Mich Sentiment-Rev(Mar) 2:00 PM CDT - Quarterly Hogs & Pigs |
FN: Apr Natural Gas(NYM)
|
| 03/31 Mon |
7:30 AM CDT - Prospective Plantings 7:30 AM CDT - Grain Stocks 8:45 AM CDT - Chicago PMI(Mar) |
FN: Apr Copper(CMX)
Apr Platinum(CMX) Apr Gold(CMX) Apr Silver(CMX) LT: Mar 2/5 Year T-Notes(CBT) Mar 10 Yr T-Notes(CBT) Mar Fed Funds(CBT) Apr Heating Oil(NYM) Apr RB Gasoline(NYM) Apr Apr Lumber Options(CME) |
| 04/01 Tue |
9:00 AM CDT - Construction Spending(Feb)
9:00 AM CDT - ISM Index(Mar) Auto & Truck Sales |
|
| 04/02 Wed |
9:15 AM CDT - ADP Employment(Mar)
9:00 AM CDT - Factory Orders(Feb) 9:30 AM CDT - API & DOE Energy Stats |
|
| 04/03 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 9:00 AM CDT - ISM Services(Mar) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - 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!