Happy 2012

January 3rd, 2012 Posted in Uncategorized

Futures and futures options trading involve substantial risk, and therefore are not suitable for all investors.

Maybe I wasn't being so optimistic after all. A week ago, I mentioned that I the problems in Europe were bad but not as bad as the talking heads were making it. I felt that our economy was moving along better than most want to believe, especially those anit-Obamas. Don't get me wrong, I'm not here to pat the President on the back. We all have issues with politicians. But I will always believe the United States machine and its direction is bigger than just one man and as such can't be derailed by one man.

Those factors are at the forefront of today's early morning rally. Not only are there signs of the US economy picking up but there are signs that the world economy is still growing at a fair if not modest rate.

If you think I'm wrong and believe the United States is on it's way down, I'd like you to consider the US as an adolescent. During someone's teen years you never know if they're going to come out right or wrong, good or evil. But those ups and downs are usually appeased as a teen moves into its young adult and then adult life. The US economy and its role in the global economy is just at its teen years of influence. The US Empire is just beginning.

Trading Level

To see we're going to open higher seems like an understatement with SP futures trading plus 20 this morning. Better than expected, and largely positive, global manufacturing numbers have pushed equity futures higher and as well as just about all other commodities this morning.

As far as trade ideas, this morning's move is putting all but one equity index futures out of trading range as per my numbers. I don't publish my 3rd levels of support and resistance but for those of you who an aggressive risk tolerance, look to SELL TF H2 at 752.1 STOP. This is a very risky trade given this morning's bullish strength however "overbought" it may be in the short term.

Aside from that, I really don't see much this morning. Hopefully you're long or in cash. If you're in cash, I'll be back once I see a trade idea that might work.

Feel free to call me with questions, comments or to discuss your trading strategy - 312.224.7885. Toll Free 866.312.4995.

Have a great day and year!

 

Daily Pivots	1/3/12
EQUITIES	R2	R1	PIVOT	S1	S2
ES H2	1262.83	1257.92	1254.33	1249.42	1245.83
TF H2	747.3	742.1	739.0	733.8	730.7
NQ H2	2290.75	2282.75	2276.50	2268.50	2262.25
YM H2	12258	12204	12169	12115	12080
ENERGIES	R2	R1	PIVOT	S1	S2
QM G2	100.408	99.617	99.108	98.317	97.808
QG G2	3.068	3.032	3.008	2.972	2.948
GRAINS	R2	R1	PIVOT	S1	S2
ZS H2	1224.0	1218.0	1209.6	1203.6	1195.2
ZC H2	653.3	650.1	645.3	642.1	637.3
ZW H2	657.9	655.5	652.1	649.7	646.3
METALS	R2	R1	PIVOT	S1	S2
YG G2	1591.2	1579.2	1570.9	1558.9	1550.6
YI H2	28.773	28.232	27.909	27.368	27.045
Weekly Pivots
Starting	1/3/12
S & P 500	R2	R1	PIVOT	S1	S2
ES H2	1265.98	1259.83	1254.60	1248.46	1243.23
RUSSELL 2K	R2	R1	PIVOT	S1	S2
TF H2	751.9	745.9	740.8	734.8	729.6
NASDAQ 100	R2	R1	PIVOT	S1	S2
NQ H2	2299.46	2287.23	2276.02	2263.79	2252.58
DOW JONES	R2	R1	PIVOT	S1	S2
YM H2	12286	12225	12175	12114	12065
MINI CRUDE	R2	R1	PIVOT	S1	S2
QM G2	101.635	100.721	99.835	98.921	98.035
MINI NAT GAS	R2	R1	PIVOT	S1	S2
QG G2	3.180	3.127	3.090	3.037	3.000
MINI BEANS	R2	R1	PIVOT	S1	S2
ZS H2	1226.4	1216.0	1204.8	1194.4	1183.2
MINI CORN	R2	R1	PIVOT	S1	S2
ZC H2	621.6	616.9	610.9	606.2	600.2
MINI WHEAT	R2	R1	PIVOT	S1	S2
ZW H2	659.6	653.8	647.1	641.3	634.6
MINI GOLD	R2	R1	PIVOT	S1	S2
YG G2	1591.9	1579.9	1569.7	1557.7	1547.6
MINI SILVER	R2	R1	PIVOT	S1	S2
YI H2	28.831	28.257	27.799	27.225	26.767