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This is a resend since it didn't make it yesterday. :)
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I'm suppose to provide some material for the new Dymally Report coming
out soon by Ticker Tape Communications of Los Angeles and was requested
to send some sample material.
Since this information won't be used for the public just yet, why let it
go to waste? Therefore, I am posting the draft for your use. Appreciate
any comments you may.
The contents are as follows:
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A Traders' Opinion....
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August Heating Oil
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Since dropping from the major high made on 5/16 (.5950), the major low
of 4/17 (.5352) was taken out on 6/6 to finally bottom at .5110 on 6/20.
Our 6/2 Fdate has proven quite profitable. Now since a new bottom has
been made, this market is officially knighted a down trending market.
Only shorts should be considered if entering. The move up to 50% of the
previous range just confirms our down trend as it held showing the bears
are in control. I expect a move up anytime from now or once .5209 or
.5110 is tested for support. A rally should ensue which should provide a
nice entry location once it tops. Look for a rally to top short of the
last made high of 7/2 to continue its way down into August. If by some
freak chance it does pass that high, stay out of this market.
August Live Cattle
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Making higher lows and lower highs showing no direction at this time. It
is best to wait until some direction is indicated in the trend. The
first attempt back up passed the 50% mark of the previous range showing
that the bears haven't amassed enough backup yet to push this market
down, and the bulls keep showing some strength in keep the low higher as
well as pushing past the last ranges by over 50% each time. Wait for
6522 to give for a continuation upwards, or the low of 63.00 to indicate
the bears have it. Seasonals at this point indicate some bearish
movement during mid July that turns bullish come August. Therefore, look
for the bulls to win out at the end.
August Lean Hogs
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Currently, the trend is up due to higher lows and higher highs being
made. Look to go long on pullbacks to time days square price. Resistance
is at 82.50, 83.76 and 84.12. Do not short this market while it has
bullish tendencies! Most likely will continue into mid-August if normal
seasonal tendencies continues.
August Soybeans
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Since the 6/24 FDate, this market has dropped and made new major lows.
Expect a cycle bottom to form this week, however use this to exit shorts
rather than to enter longs. The trend is obviously down. Expect any
rally to be short lived with the later half of July resuming the
downtrend.
October Sugar
-----------------------------------------------------------
Usually the first week of July this market is weak. May see some bullish
signs for a couple of weeks. However, it is not a clear trend and the
sidelines are advisable.
September Corn
-----------------------------------------------------------
This cyclic market shows cycle action for 7/9 and 7/21. There is a USDA
Crop Production Report due 7/11. Any moves to the upside should be
watched with the prospect of shorting a rally top. Suggest that no longs
be put on this market while clearly a down trend.
September Cocoa
-----------------------------------------------------------
Cocoa is dropping a little early this year. Normally we should see this
happen the 3rd week of July till August. Trend is UP yet is weak, giving
up much ground with the recent drop and gap. Look for the gap to be
filled soon. Sidelines suggested.
September Canadien Dollar
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Market has been downtrending until that last big move up on 6/26. Since
it has been gradually making some minor new highs. May expect this move
up to last one more week before resuming its move back down again.
Shorting opportunities may avail itself from this current rally.
Resistance sits at .7350 and .7395 for now.
September Deutsch Mark
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Clearly a down trend for this market which matches its seasonal tendency
for this period. Mark may attempt a rally come this week heading toward
resistance at .5770, .5782, .5815 and .5859. Expect the rally to be
short lived, likely to continue down till mid August. Possible shorting
opportunity when the rally tops.
September Comex Silver
-----------------------------------------------------------
Continues to make new lows. Seasonally this market is somewhat bullish
the first week of July. The it will turn bearish for a couple of weeks
afterwards. This market seems content to just plain go down. Possible
bearish move is a week or so late, and we could find a small rally come
end of next week. Since it is trending down, we are only interested in
shorting on a rally to resistance plus time. Resistance is 468 and 487.
September T Bonds
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This market is clear bullish. When all things drop, there goes bonds to
the sky! Second week is usually bearish for Bonds in July. Expecting
cycle turns around 7/11 and 7/21. First week of August is usually
bearish as well, so we may be entering a channeling period here. Look
only to go long on pullbacks to Time and Price.
cheers!
:)
rick
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