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Hedging Corn and Soybeans

RSS By: Howard Tyllas, AgWeb.com

Howard Tyllas is currently a member of the Chicago Board of Trade and registered with the Commodity Futures Trading Commission as a floor broker and as a Commodity Trading Advisor.

June Cattle Daily Numbers & Trade Ideas for 5/27/10

May 27, 2010


This report was sent to subscribers on 5/26/10 6:00 p.m. Chicago time to be used for trading on 5/27/10. Everything is done by Howard Tyllas, no program or black box.

Do yourself a favor and get your numbers after the market is closed to be used for the next session trading. Ask yourself how much would it have been worth to read my comments and get my numbers 14 hours before today's open outcry?  

June Cattle

After the close on 5/27/10: My resistance was 91.72, the exact actual high, and my support was 190.02FG, just .50 (2 ticks) from the actual low

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92.17                          near Bracket Line Resistance                       

91.72                       

--------------90.87       Pivot 

90.02 FG

89.32

      

Trend                       88.60  is the 200 day MA   

5 day chart....…      Down (last week same day)                                                          

Daily chart   ……   Up              

Weekly chart ……. Up                       ATR 1.27

Monthly chart....     Sideways            Oversold 32%


June Cattle (elec.) for 5/27/10: 

I still say "Bracket line is now resistance, 89.70 is near term support; real support is at the support bracket line (green)".

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 Wednesday; my resistance was .12 from the actual high, my pivot acted as support and was .22 from the actual low.            

Cattle: Spot on resistance and accurate support. Selling the resistance was a good trade idea that would have been profitable for a day trade, and swing traders could now lower their buy stop to 91.22 to protect. We are close to initiating the trade again today that I feel is still in play.

June Cattle (elec.) for 5/26/10: 

Cattle: Spot on resistance and helpful support. Bears are in control and I want to sell near the bracket line that once again acts as resistance. I could see selling against the gap that was left from Monday's close at 91.12 if aggressive risking no more than .40, but for a longer term trade looking for a retest of the bracket line support of 87.00, I would use a buy stop at 92.45.

June Cattle (elec.) for 5/25/10: 

Cattle: Spot on resistance and not helpful support off .50. As long as we are below the bracket line (which is now resistance) I want to play the short side.

Results for 5/24/10 were:

Soybeans: My resistance was .02 1/2 from the actual high; my support was .02 1/2 from actual low.

Corn:    My resistance was .00 3/4 from the actual high; my support was .04 1/4 from the actual low. 

Crude Oil: My resistance was 0.27 from the actual high; my support was 0.47 from the actual low.

S&P:    My resistance was 8.00 from the actual high; my support was 2.75 from the actual low. 

Gold:     My resistance was 0.90 from the actual high; my support was 0.20 from the actual low. 

Euro:    My resistance was .09 from the actual high; my support was .11 from the actual low. 

Bonds: My resistance was 9 from the actual high; my support was 13 from the actual low. 

Nat. Gas: My resistance was .043 from the actual high; my support was .034 from the actual low.   

Cattle:  My resistance was .10 actual high; my support was .50 from the actual low. 

June Cattle (elec.) for 5/24/10: 

Cattle: Spot on support number and helpful resistance at best. Open outcry chart provides a cleaner look to the chart and the chart I use in price discovery. I wanted to sell resistance risking only .40 which would have worked well using the bracket line, but my resistance numbers was off .57 and not close enough to sell. I want to play the short side when below the bracket line of 92.10, and play the long side this week when above.

June Cattle (elec.) for 5/21/10: 

Cattle: Spot on resistance and helpful support. Bulls spit the bit and lost control of the market in the near term. They need to recapture the bracket line to regain control. I want to sell resistance and use a buy stop to protect not risking more than .40.

Subscribers of 6 months or longer have seen this 3rd time at the down or uptrend line works a high % of time, and the risks are minimal when it does not hold, and rewards you nicely when right. No matter what market you trade, learn this tool that I have relied on for decades, and my instilling courage to believe in this in you that took me so long to truly believe in. I take these trades every time when possible, and in the long run in my years it has truly been a casino bet for me and not a player, and are the ones most worth taking. See for yourself and if you see this pattern works, start to incorporate it in how you use it to trade with. 

Want to know what I think for tomorrow and going forward?

The 9 markets now covered daily are Soybeans, Corn, Crude oil, S&P, Euro FX, 30 yr TBond, Gold, and  Natural Gas and Cattle

My numbers usually are sent at least 12 hours (via your email) in advance of the next day open outcry session. Subscribers use them as best suited to their own needs and sometimes that involves the overnight trade.

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           May Your Next Trade Be The Best                          

                     Howard Tyllas            

  

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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