In This Issue
1. What's Your Trading blood type?
2. Hot Market Review - Gold Futures
3. Economic Calendar
Perhaps the greatest luxury I have in this business is the ability to observe
the experiences of many traders with different personalities, life
schedules and risk capital, each trading in a variety of markets. What
most astute brokers realize is that, over time, as some individuals prematurely
exit winners while others desperately cling to losers, it becomes
quite possible to match different "blood types" of those traders
with their correct "trading diets." Clearly, we're not talking the
medical blood type here, but in the figurative sense it makes the right
point. With practice, it's not too hard to determine blood types (type
of trading best suited to the individual) based on the personality of the
trader, and then prescribe a diet based on that individual trader's capital,
experience, risk profile and schedule.
From our friend Jim Wyckoff
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 www.jimwyckoff.com click on image below to enlarge
The overall near-term technical posture for gold continues to favor the bearish camp. The stronger U.S. dollar index has cast a bearish pall over most of the raw commodity sector recently, including the precious metals. While the stronger greenback recently has been a bearish factor for the gold market, it can be argued the yellow metal has held up surprisingly well given the persistent strength of the dollar. Gold bulls are hoping that's an early clue that a near-term low is in place, or close at hand, for their metal. Technically, April gold futures prices have traded sideways and choppy the past three weeks. The gold bulls' next upside near-term price breakout objective is to produce a close above solid technical resistance at $1,600.00. Bears' next near-term downside breakout price objective is closing prices below solid technical support at the February low of $1,554.30.
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 03/18 Mon |
9:00 AM CDT - NAHB Housing Market Index(Mar) 2:00 PM CDT - Milk Production FOMC MEETING |
FN: Mar Lumber(CME) LT: Mar Currencies(CME) Mar Eurodollar(CME) Mar Coffee(ICE) Mar US Dollar Index(ICE) Mar Eurodollar Options(CME) |
| 03/19 Tues |
7:30 AM CDT - Building Permits & Housing Starts(Feb) | FN: Mar US Dollar IndexICE) LT: Mar 10 Year Notes(CBT) Mar Bonds(CBT) Mar Canadian Dollar(CME) |
| 03/20 Wed |
6:00 AM CDT - MBA Mortgage Purchase Index 9:30 AM CDT - API & DOE Energy Stats 11:30 AM CDT - FOMC Rate Decision 3:00 PM CDT - Dairy Products Sales |
LT: Apr Crude Lt(NYM) Apr Platinum Options(NYM) Apr Palladium Options(NYM) |
| 03/21 Thurs |
7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Initial Claims-Weekly 8:00 AM CDT - FHFA Housing Price Index(Jan) 9:00 AM CDT - Existing Home Sales(Feb) 9:00 AM CDT - Leading Indicators(Feb) 9:00 AM CDT - Philadelphia Fed(Mar) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
LT: Mar Wheat(CBT) Mar Corn(CBT) Mar Oats(CBT) Mar Rough Rice(CBT) Mar Soybeans(CBT) Mar Soybean Oil(CBT) Mar Soybean Meal(CBT) Mar NASDAQ(CME) Mar S&P 500(CME) Mar NASDAQ Options(CME) Mar S&P 500 Options(CME) |
| 03/22 Fri |
2:00 PM CDT - Cattle On Feed 2:00 PM CDT - Cold Storage |
FN: Apr Crude Lt(NYM) LT: Apr 2,5,10 Year Notes Options(CBT) Apr Bonds Options(CBT) Apr Wheat Options(CBT) Apr Corn Options(CBT) Apr Oats Options(CBT) Apr Rough Rice Options(CBT) Apr Soybeans Options(CBT) Apr Soybean Meal Options(CBT) Apr Soybean Oil Options(CBT) |
| 03/25 Mon |
LT: Apr Copper Options(CMX) Apr Gold Options(CMX) Apr Silver Options(CMX) Apr Heating Oil Options(NYM) Apr RBOB Gasoline Options(NYM) Apr Natural Gas Options(NYM) |
* 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!