In This Issue
1. Different Markets for Day trading
2. Hot Market report: Corn Futures
3. Economic Calendar
Each market has different personality, different behavior along with different times of the day when it is most active. If you are finding that the ES ( mini SP) is not giving you enough risk/opportunities then start monitoring a couple of other markets and perhaps explore them in demo / simulated mode.
There are more than a few markets I think are suitable for day-trading. Below you will find some observations, tips along with what is unique about these markets, personality and most active trading hours.
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 corn futures market saw a good upside pop in prices Tuesday, but Wednesday could not show that important follow-through strength that would have begun to suggest a market bottom being in place. See on the daily bar chart that prices are still in a downtrend. Grain market bulls are still worried about the "February Break" seasonal phenomenon.
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 02/09 Mon |
FN: Feb Live Cattle(CME) LT: Mar Sugar-16(ICE) |
|
| 02/10 Tues |
9:00 AM CST - JOLTS-Job Openings(Dec) 9:00 AM CST - Wholesale Inventories(Dec) 11:00 AM CST - WASDE Report & Crop Production |
FN: Mar Sugar-16(ICE) |
| 02/11 Wed |
6:00 AM CST - MBA Mortgage Purchase Index 9:30 AM CST - API & DOE Energy Stats 1:00 PM CST - Treasury Budget(Jan) 2:00 PM CST - Dairy Products Sales |
LT: Mar Coffee Options(ICE) |
| 02/12 Thurs |
7:30 AM CST - USDA Weekly Export Sales 7:30 AM CST - Initial Claims-Weekly 7:30 AM CST - Retail Sales(Jan) 7:30 AM CST - Retail Sales-Ex Auto(Jan) 9:00 AM CST - EIA Gas Storage 3:30 PM CST - Money Supply |
|
| 02/13 Fri |
7:30 AM CST - Export(ex-ag) & Import(ex-oil) Prices(Jan) 8:55 AM CST - Mich Sentiment(Feb) |
FN: Mar Cocoa(ICE) LT: Feb Lean Hogs(CME) Feb Eurodollar Options(CME) Feb Lean Hogs Options(CME) |
| 02/16 Mon |
PRESIDENTS DAY | LT: Feb Eurodollar(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!