In This Issue
1. Day Trading Pointers
2. Jim Wyckoff Hot Market
3. Economic Calendar
Featured Articles This Week
a. How Does the Value of the U.S. Dollar Fit Into the Big Picture for the Economy?
b. Technical Indicators: A Love-Hate Relationship
c. Credit Crisis: Are We Set Up for The Perfect Storm?
The following is an excerpt from our daily trading blog which features current support and resistance levels, economic reports and market commentary:
Few pointers for you day-traders out there. I am sure you have heard some from different resources but never hurts to read and absorb this again:
1. Be patient
2. Limit the number of hours you trade
3. Know your DAILY risk before the day begins and this will dictate
the number of contracts you trade
4. Choose markets with high liquidity
5. Know what reports come out every day and their impact on the markets.
6. Understand that even the best methods will have losing days.
7. Learn to accept loses
8. use RISK CAPITAL only
9. Don’t try to trade and do other things
10. Educate yourself
11. Keep a trading journal
Interested in learning more? View our Daily Trading Blog and sign up for daily emails here.
U.S. T-Note Futures Prices Set New All-Time Record High
March U.S. Treasury note futures prices on Tuesday set a new all-time record high. The T-Note bulls have the solid overall near-term technical advantage, and have gained more power recently. There are no early technical clues to suggest a market top is close at hand. Fundamentally, the E.U. sovereign debt and financial crisis, and still-shaky world economic recoveries, are bullish underlying fundamental factors supporting the U.S. debt market prices.
Jim has an excellent daily newsletter where he reviews different markets, alerts you for potential trades and much more. Included is his great bi-weekly newsletter with charts and a little longer term outlook. We recommend checking out his website, educational CDROM, and services at Jim Wyckoff
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 2/01 Wed |
6:00 AM CST - MBA Mortgage Purchase Index 7:15 AM CST - ADP Employment Change(Jan) 9:00 AM CST - Construction Spending(Dec) 9:00 AM CST - ISM Index(Jan) 9:30 AM CST - API & DOE Energy Stats 1:00 PM CST - Auto & Truck Sales(Jan) | |
| 2/02 Thu |
6:30 AM CST - Challenger Job Cuts(Jan) 7:30 AM CST - USDA Weekly Export Sales 7:30 AM CST - Initial Claims-Weekly 7:30 AM CST - Productivity-Prel(Q4) 7:30 AM CST - Unit Labor Costs(Q4) 9:30 AM CST - EIA Gas Storage 3:30 PM CST - Money Supply | FN: Feb Heating Oil(NYM) Feb RBOB Gasoline(NYM) LT: Jan Butter(CME) Jan Milk(CME) Jan Butter Options(CME) Jan Milk Options(CME) |
| 2/03 Fri |
7:30 AM CST - Dairy Products Prices 7:30 AM CST - Ave Workweek & Hourly Earnings(Jan) 7:30 AM CST - Nonfarm Payrolls(Jan) 7:30 AM CST - Unemployment Rate(Jan) 9:00 AM CST - Factory Orders(Dec) 9:00 AM CST - ISM Services(Jan) | LT: Feb Canadian Dollar Options(CME) Feb Currencies Options(CME) Feb Live Cattle Options(CME) Feb US Dollar Index Options(ICE) Mar Cocoa Options(ICE) |
| 2/06 Mon |
FN: Feb Live Cattle(CME) | |
| 2/07 Tue |
2:00 PM CST - Consumer Credit(Dec) | |
| 2/08 Wed |
6:00 AM CST - MBA Mortgage Purchase Index 9:30 AM CST - API & DOE Energy Stats | |
| 2/09 Thu |
7:30 AM CST - WASDE Report & Crop Production 7:30 AM CST - USDA Weekly Export Sales 7:30 AM CST - Initial Claims-Weekly 9:00 AM CST - Wholesale Inventories(Dec) 9:30 AM CST - EIA Gas Storage 3:30 PM CST - Money Supply | |
| 2/10 fri |
7:30 AM CST - Dairy Products Prices 7:30 AM CST - Trade Balance(Dec) 8:55 AM CST - Mich Sentiment(Feb) 1:00 PM CST - Treasury Budget(Jan) | LT: Feb Eurodollar Options(CME) Mar Cotton Options(NYM) Mar Coffee Options(ICE) |
| 2/13 Mon |
LT: Feb Eurodollar(CME) | |
| 2/14 Tue |
7:30 AM CST - NOPA Crush 7:30 AM CST - Export & Import Prices(Jan) 7:30 AM CST - Retail Sales(Jan) 9:00 AM CST - Business Inventories(Dec) | LT: Feb Lean Hogs(CME) Feb Lean Hogs Options(CME) |
* 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!