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February Cattle Daily Numbers & Trade Ideas for 1/22/10


This report was sent to subscribers on 1/21/10 6:00 p.m. Chicago time to be used for trading on 1/22/10. Everything is done by Howard Tyllas, no program or black box.

February Cattle  

After the close on 1/22/10: My resistance was 87.45 FG, .20 from the actual high, and my support was 86.57, .17 from the actual low.

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87.95              

87.45 FG              

--------------86.57     Pivot

85.70 FG

  

 

          

Trend                       87.97 is the 200 day MA

5 day chart.......      Sideways (last week same day)                                                          

Daily chart   ......   Sideways           

Weekly chart ....... Sideways  

Monthly chart ...... Sideways 

ATR .92                   Balanced 63%  

February Cattle (elec.) for 1/22/10

"Double top" at the 88.00 level is a wall the bulls ran into. They are still in control but more corrective action might be needed to gain energy to attempt to hurdle 88.00. Uptrend line supports, as well as the gap at 85.70.

 Notice how I use the open outcry chart to locate gaps, but I do my numbers for the electronic market as always. Open outcry is where I find the major players doing business. 

  In my daily numbers on Thursday; my pivot acted as resistance and was .10 from the actual high, my support was .20 from the actual low.   

Cattle: Spot on numbers. Now we are sitting between the bracket line resistance (red) and the uptrend line (green) near the gap. No bias at this price and time.

February Cattle (elec.) for 1/22/10

Cattle: Helpful numbers. Bullish chart but near resistances. I like my trade idea from yesterday.

Want to know what I think for tomorrow? 

The 9 markets now covered daily are March soybeans, March corn, February crude oil, March S&P, March Euro FX, March 30 yr TBond, February gold, and February natural Gas and February cattle

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           May Your Next Trade Be The Best                          

                     Howard Tyllas            

   Tel.1-312-573-2699, 1-312-961-4390

Disclaimer:     No guarantee of any kind is implied or possible where projections of future conditions are attempted. Futures trading involve risk. In no event should the content of this be construed as an express or implied promise, guarantee or implication by or from Howard Tyllas, that you will profit or that losses can or will be limited in any manner whatsoever. No such promises, guarantees or implications are given. Past results are no indication of future performance.


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About the author


Currently a member of The Chicago Board of Trade (CBOT) and registered with the Commodity Futures Trading Commission (CFTC) as a floor broker and as a Commodity Trading Advisor (CTA). I am the President of Futures Flight, an Introducing Broker (IB) for MF Global,   and a member of the National Futures Association (NFA). I started my career in 1973 on The Chicago Mercantile Exchange trading floor working for a major firm. Three years later I purchased my first membership and began what would become a thirteen-year commitment to trading soybeans for my own account on the trading floor. I began trading options on futures since their inception in Chicago about twenty years ago; doing so, I traded in various pits on the trade floor. 

I day traded from 2000-2002 for Schoenfeld Securities (a major proprietary trade firm), and then continued to trade at Sheppard Int. for Jump Trading, LLC. I concentrated on the emini S&P and NASDAQ, trading them “upstairs” on a screen. One of the major lessons that I have learned from all my years of experience is that knowledge is an important condition for the possibility of successful trading. Knowledge gives you a better chance to succeed by eliminating obvious mistakes: with it, you will never find yourself shamefully uttering, “If I only took the time to learn”.  
         
I want to save you from such regrets by teaching you where the danger is, what it looks like, and how to go around it, while still keeping an eye on your destination of success. In short, I will teach you how to combat error with knowledge.
       
My mission is to educate you, giving you my 34 years experience, wisdom, and knowledge from which you will then be able to use and benefit from at will. For you, I will be a personal trainer, coach, mentor, overseer, market strategist, consultant, and advisor. 
I know what will help you make money, and I know what will insure failure. Use my services and prevent, “If I only knew”.  
  

Howard Tyllas

Futures trading involves the substantial risk of loss and may not be suitable for all investors. Past performance does not mean future results.

If you have a question, or comment, email me howardtyllas@howardtyllas.com  

Visit my website www.farmerhedge.com

                         http://www.howardtyllas.com                           

                         http://www.futuresflight.com 

 

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