In This Issue
1. Hot Market Report by JS
2. Free Guide: 'Survival Day-Trading' by Ilan Levy-Mayer
3. Economic Calendar
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Technically the market is pressing the extreme and is flirting with a positive trend shift. On the Sell side REVERSAL strategies off the UP will work best. If the integrity of the previous session low remains intact, avoid FADE strategies, as expectation is for a higher trade. BREAKOUT strategies below the DP are a lower probability and should just "go". Risk little and go for a lot.
On the Buy side FADE and REVERSAL strategies are recommended off the DP and DT1 support inflections. As long as the MKT continues to hold positive structure, these strategies should be aggressively taken with the expectation of a move into a BULL TREND position. BREAKOUT strategies should only have 1 pullback after a resistance breach, bottoming out above the DIR if they are going to follow through in the session. Any more and the market will be vulnerable to a neutral shift.
Register to download the guide: 'Surival Day-Trading' by Ilan Levy-Mayer.
Here's a sample from the PDF:
"I started as a commodity broker back in 1998, when commissions of $25 per round turn for the E-minis were considered a deep discount. I had the luxury of observing many types of day traders and saw things from the sidelines that most traders couldn't see during the heat of battle, one of which is the importance of solid money management for the long-term survival of day trade.
Day trading is by definition a trade that is initiated and completed during the same trading day. In this wide category, you will find many types of traders. On one end of the spectrum are scalpers, who go for one or two ticks of profit several times a day in trades lasting just seconds. On the other side are speculators who stay in a position from the start of the day until the close. One of the main appeals of day trading for all types is that the trader goes home flat without having to worry about positions. When the market closes, the day is done.
Money management, as the name implies, is applying prudent principles to help conserve your trade (risk) capital. Without risk capital to trade, a speculator does not have a chance to succeed."
This 3 page article (published in SFO magazine Sept. 2007) offers some practical tips for both newcomers and experienced commodity traders. Please fill out the short form below to start reading immediately:
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 03/30 Wed |
6:00 AM CDT - MBA Mortgage Purchase Index
6:30 AM CDT - Challenger Job Cuts(Mar) 7:15 AM CDT - ADP Employment Change(Mar) 9:30 AM CDT - API & DOE Energy Stats |
FN: Apr Natural Gas(NYM) |
| 03/31 Thu |
7:30 AM CDT - Grains Stocks
7:30 AM CDT - Prospective Plantings 7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Initial Claims-Weekly 8:45 AM CDT - Chicago PMI(Mar) 9:00 AM CDT - Factory Orders(Feb) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
FN: Apr Copper(CMX)
Apr Silver(CMX) Apr Gold(CMX) Apr Platinum(CMX) Apr Palladium(CMX) LT: Mar 2,3,5 Year Notes(CBT) Mar Feeder Cattle(CME) Mar Fed Funds(CME) Mar Milk(CME) Apr Heating Oil(NYM) Apr RBOB Gasoline(NYM) Mar Feeder Cattle Options(CME) Mar Fed Funds Options(CME) Mar Milk Options(CME) Apr Lumber Options(CME) |
| 04/01 Fri |
7:30 AM CDT - Dairy Products Prices
7:30 AM CDT - Nonfarm Payrolls(Mar) 7:30 AM CDT - Unemployment Rate(Mar) 7:30 AM CDT - Hourly Earnings & Ave Workweek(Mar) 9:00 AM CDT - ISM Index(Mar) |
LT: Apr Live Cattle Options(CME)
May Cocoa Options(ICE) |
| 04/04 Mon |
FN: Apr Live Cattle(CME)
Apr Heating Oil(NYM) Apr RBOB Gasoline(NYM) |
|
| 04/05 Tue |
9:00 AM CDT - ISM Services(Mar) | |
| 04/06 Wed |
6:00 AM CDT - MBA Mortgage Index
9:30 AM CDT - API & DOE Energy Stats |
|
| 04/07 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 9:30 AM CDT - EIA Gas Storage 2:00 PM CDT - Consumer Credit(Feb) 3:30 AM CDT - Money Supply |
|
| 04/08 Fri |
7:30 AM CDT - Dairy Products Prices
7:30 AM CDT - WASDE Report & Crop Production 9:00 AM CDT - Wholesale Inventories(Feb) |
LT: Apr Canadian Dollar Options(CME)
Apr Currencies Options(CME) Apr US Dollar Options(ICE) May Cotton Options(CME) May Coffee Options(ICE) |
| 04/11 Mon |
||
| 04/12 Tue |
7:30 AM CDT - Trade Balance(Feb)
7:30 AM CDT - Export & Import Prices(Mar) 1:00 PM CDT - Treasury Budget(Mar) |
* 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!