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

 

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:  None for Wednesday.

CHANGE IN OPEN STOPS:
Long March mini silver from 9.450 up to 9.795.

 METALS COMMENTS:

MAR COPPER:  Switching to March.  It triggered a buy yesterday and has done nothing.  Until this market gets over 175.00, I don't see much happening.  Closed 165.40, down 1.75.

FEB MINI GOLD:  Switching to February since FND is on Wednesday.  First I'll finish up with the December position.  It rallied to and met my projection at 800 on Friday.  It has since rallied over the 800.00 resistance.  That same resistance area applies to the Feb. contract.  The next resistance is 840.00.  Considering the extent of the rally, I would not be surprised to see a good sell-off.  If so, it should be an opportunity to buy again.  Watching closely.  Closed 820.50, up .10. Position:  Long 740.50 (11.14).  Exit 789.00 (11.21).  Profit $1610.20.  

MAR MINI SILVER:  It triggered Monday.  I had to pay up at 10.122.  It rallied to 10.700.  Today was an inside day.  Move stops from 9.450 up to 9.795.  Closed 10.305, down .073.
Position:  Long 10.122 (11.24).
Projection:  11.500

MISC. MARKETS COMMENTS:

JAN CRUDE OIL:  Switching to January contract.  It rallied to 55.30 yesterday and formed an inside day today.  It has been "hanging around" the 50.00 level all week.  In January 2007, the 50.00 level was the low before crude started to gradually rally and start its major move that eventually ended well over 140.00.  My point being that this level is important to watch closely.  Further consolidation could suggest a bottom with the potential for a strong rally that this market is overdue for.  Closed 50.77, down 3.73. 

JAN (MINI) NATURAL GAS:  It continues to go nowhere fast.  It now has trouble every time it rallies to 6.80 approximately.  Its current support is at approximately 6.20.  Just watching.  Closed 6.386, down .441.

DEC MINI JAPANESE YEN:   It triggered a sell on Monday and sold off to 102.82.  Today it rallied to test the high of yesterday.   Today's high 105.39.  So far the lows have been holding at the 20 day moving average.  Keep stops at 106.90.  Closed 104.61, up 1.29.
Position:  Short 103.92 (11.22).
Projection:  98.00.

DEC DOLLAR INDEX:  (Correction:  In my last Update when showing the offset of the short position at a loss,  I showed the position as long the dollar).   It triggered a sell Monday.  I had to pay up to enter at 86.89.  Move stops from 88.76 down to 87.98.  Closed 85.06, down 1.35.
Position:  Short 86.89 (11.24)
Projection:  84.00.

DEC MINI EUROCURRENCY:   I attempted to buy it yesterday but missed it.  It got too far away from me during the night session.  It would have been a good trade.  It is trying to get through my projection at 130.00.  If it sells off I will try again to buy it.  Closed 130.18, up 148.

DEC CANADIAN DOLLAR:  Today it tried to push over the 20 day moving average in the low 82.00 level.  That is also resistance on the daily chart.  I see the market selling off from here for an opportunity to buy.  Closed 81.40, up 58.

DEC BONDS:  They triggered a sell yesterday from Friday's huge inside day.  This market is volatile right now and I prefer to just watch.  When the Dow bottomed in 2002, bonds continued a bull move for some time after that which makes me suspect they may continue to rally.  I don't know.  Best to watch.  Closed 126.29, up 1.20.

 

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.