MARKET UPDATE
JUDY CRAWFORD
(TRADES FOR WEDNESDAY, NOV. 26, 2008)
888-301-8120
jcrawford@zaner.com

 Unique and timely technical review of all the major markets including trade suggestions plus the technical reasons for the trades.  Published on Tuesday and Thursday, learn while you trade! Additional trade suggestions for alternate days (titled Trade Alerts) are published but not available here.  To receive free the complete Market Update including the additional Trade Alerts, sign up on my website:  www.tradingfuturesmarkets.com.  If you have any questions or want to discuss a particular market or trading, give me a call or email.  I look forward to hearing from you!

PLEASE NOTE:  Thursday is our Thanksgiving Holiday and all markets will be closed.  They will be opened on Friday.

ABOUT TRADING:

Emotion is more your enemy than any market will ever be. Trading is not easy.  It takes discipline, a plan and the ability to leave your emotions in the other room.  My Market Update is designed to help you with that.

You need a plan because, you cannot control the market but you can control yourself.   As a client so aptly put it, "when trading you are committing your money to something that you have no control over so you have to do it in a way to keep yourself out of trouble.  The only way to do that is to develop/utilize a system to help you trade the markets."   Statistics show that the successful trader is wrong well over 50% of the time but still makes money. 

Developing a system to approach the markets takes time.  The purpose of my Market Update is to show you some of the technical indicators you should consider prior to entering a trade and to show you the trading components all systems need:  Entry, Exit, Projection.   My goal is to help you save time and trade better.    

Sign up for my complete Update including Trade Alerts on alternate days by going to my website:  http://www.tradingfuturesmarkets.com/.  It's free as well as several booklets on trading. 

OPENING AN ACCOUNT:

Feel free to call or email me regarding any questions you may have about the markets or about trading with me.  I'm available during market hours without obligation.  

I welcome the opportunity to hear from you and what your experience has been.  I can also tell you a little about myself and the firm I work with to see if that would work for you!

SOME POINTERS ON MY MARKET ENTRY & PROTECTIVE STOPS:

I do not enter new positions during the night session but do place stops on existing positions for 24 hour coverage.
I may move stops interday but only existing clients are notified of these changes.

TRADE ALERT:

Buy December mini wheat.  Buy 545 1/4 stop.  Protective stop 528.  Potential projection 600.
Reasons for the Trade:
1.  All three charts consistently hold at the major 500 support level which is positive.
2.  On the daily chart, wheat has rallied over the downtrend formed since the August 21 high suggesting a trend change from down to up.  It did so over two weeks ago.
3.  On the daily chart, during the recent sell-off wheat formed a double bottom suggesting a trend change from down to up.
4.  A buy signal would push wheat over the 20 day moving average.
5.  Today was an inside day that can trigger a signal and market direction.

Buy December meal.  Buy 264.10 stop.  Protective stop 256.50.  Potential projection 280.00.
Reasons for the Trade:
1.  On both the monthly and weekly charts meal continues to hold the major 250.00 support level.
2.  The weekly chart has a key reversal bottom suggesting a trend change from down to up.
3.  The daily chart has a key reversal bottom.
4.  On the daily chart, meal closed over the 250.00 support today.  That is constructive.
5.  On the daily chart, meal rallied over the major downtrend formed since the July 11 high several weeks ago suggesting a trend change from down to up.
6.  Today was an inside day that can trigger a signal and market direction.

CHANGE IN OPEN STOPS:
Long March cocoa from 20.25 up to 20.75.

GRAIN COMMENTS:

DEC CORN:  I still don't see anything going on here.  Longterm it is in support but on the daily chart it needs to get back over the 375.00 support.  Just watching for now.  Closed 353 1/2, down 1.

DEC WHEAT:  A trade could be developing.  See Trade Alert for details.  Closed 534, down 3 1/2.

JAN BEANS:  They are attempting to get back over 900 support.  They formed an inside day today but I would rather see them over 900 before being interested in buying.  Closed 883, down 1.

DEC MEAL:  A trade could be developing.  See Trade Alert for details.  Closed 262.50, up 4.80.   

DEC BEAN OIL:  It is holding the major 30.00 support long term when it tested it this month.  That is positive.  It just needs to do more work to get me interested.  I just don't see enough there to warrant a buy yet.  Closed 32.24, down .50.

MEAT COMMENTS:

DEC HOGS:   Nothing new here.  They keep pushing up against the 57.50 resistance area.  If they can get over that and close over that, they should have a good rally.  Keep stops at 55.45.  Closed 57.75, up 37.
Position:  Long 45.12 (11.12).
Projection:  60.00.

DEC CATTLE:  They have a key reversal bottom and rallied up to the 87.50 minor resistance.  That started the sell-off.  The key now is their reaction to the current low at 82.87.  If they hold it, we might be looking at a potential buy.  Closed 85.90, down 75.

SOFTS COMMENTS:  

MAR  COTTON:   It rallied "up limit" yesterday which is 300 points.  That is very positive.  This market is giving every indication of forming a bottom.  Hopefully it will sell off more to test the low or the consolidation between 43.00 down to 40.00.  Waiting to buy.  Closed  43.75, down 105.  

JAN ORANGE JUICE:  It is back to going sideways.  It triggered a buy today from yesterday's outside day.  It rallied to 79.90 and that was it.  The 80.00 level is resistance but the more extensive resistance starts at 82.00.  I would like to see a close over 80.00 before considering buying.  Closed 76.85, down 40.

MAR COFFEE:  Its "tough area" is 115.00.  It is trying to get over it.  A trade could be developing.  See Trade Alert for details.  Closed 114.40, up 35.  

MAR COCOA:  Another strong day with a new high at 21.70.  Move stops from 20.25 up to 20.75.  Closed 21.43, up 57.
Position:  Long 20.25 (11.18).
Projection:  22.00.

MAR SUGAR:  It triggered a buy today.  It then started to sell off!  Keep stops at 11.23.  Closed 11.61, down 5.

Position:  Long 11.97 (11.26).
Projection:  13.50.

 

 

There is substantial risk of loss in trading futures and options.  Past performance is not indicative of future results.

The information in this email may be confidential and/or legally privileged.  It is intended solely for the addressee.  Access to this email by anyone other than the addressee is unauthorized.  If you are not the intended recipient, please contact the sender and destroy any copies of this message and any attachments.  Any unauthorized use or dissemination or any action taken or omitted to be taken in reliance on it, is prohibited and may be unlawful.  This communication is neither an offer to sell nor a solicitation of an offer to buy any security or other investment product.

All suggested trades are based on technical signals/indicators and do not include slippage or cost.  Not all trades suggested are taken.  Results are based on what the signal indicates - not necessarily an actual trade.  Actual results may vary.