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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 5/3/10

May 03, 2010



This report was sent to subscribers on 5/1/10 11:00 p.m. Chicago time to be used for trading on 5/3/10. 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 5/3/10: My resistance was 95.25, .45 from the actual high, and my pivot also acted as support and was 94.00, .07 from the actual low

More Results for 5/3/10 were:

Soybeans: My resistance was .03 1/4 from the actual high; my support was .03 1/2 from actual low.

Corn:    My resistance was .02 1/4 from the actual high; my support was .03 3/4 from the actual low. 

Crude Oil: My resistance was 0.40 from the actual high; my support was 0.13 from the actual low.

S&P:    My resistance was 6.00 from the actual high; my support was 1.00 from the actual low. 

Gold:     My resistance was 5.90 from the actual high; my support was 5.40 from the actual low. 

Euro:    My resistance was .14 from the actual high; my support was .39 from the actual low. 

Bonds: My resistance was 5 from the actual high; my support was 2 from the actual low. 

Nat. Gas: My resistance was .025 from the actual high; my support was .005 from the actual low.   

Cattle:  My resistance was .45 actual high; my support was .07 from the actual low. 

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96.30                        Double Top

95.25    

--------------94.00     Pivot 

92.75                       

91.57 FG                       

Use the same numbers as used on 4/28, 29, & 30 /10

       

Trend                         

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

Daily chart   ……   Up             

Weekly chart ……. Up        

Monthly chart …... Up     88.05  is the 200 day MA

ATR 1.25                 Balanced 42%    


June Cattle (elec.) for 5/3/10: 

    I said "Top channel line doing its job for now acting as resistance". Bears target bottom channel line; bulls will try and test the top channel line once again".   

    "Notice how the top uptrend channel line provided perfect resistance on (last) Monday" Notice this again on Wednesday. This is not coincidence. Uptrend line support once again.

    Tuesday provided all of the above! Double top now at $96.30. Top channel line once again did its job, as well as the bottom channel line support.

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 Friday; my pivot acted as resistance and was .52 from the actual high, my pivot also acted as support was .35 from the actual low.  

Cattle: Helpful numbers. Same thoughts, same numbers. Bulls are going to try and build support on that uptrend line, but remember they closed lower last week. I would trade the numbers without bias today.    

June Cattle (elec.) for 4/30/10: 

Cattle: Accurate resistance not helpful support. Market went nowhere in a "tug of war" battle at the uptrend line. Bulls are still in control and the chart has not had any chart damage as long as above 92.00.

June Cattle (elec.) for 4/29/10: 

Cattle: Spot on numbers. Bulls trying to regain energy at the supportive bottom uptrend channel line. Unless the market closes below the bracket line (red) near 92.00, the chart remains bullish. I would take my cues from the numbers today and trade without bias.

Results for 4/28/10 were:

Soybeans: My resistance was .03 1/2 from the actual high; my support was .00 3/4 from actual low.

Corn:    My resistance was .02 1/4 from the actual high; my support was .00 1/4 from the actual low. 

Crude Oil: My resistance was 0.51 from the actual high; my support was .41 from the actual low.

S&P:    My resistance was 2.25 from the actual high; my support was .75 from the actual low. 

Gold:     My resistance was 1.90 from the actual high; my support was 1.00 from the actual low. 

Euro:    My resistance was .01 from the actual high; my support was .48 from the actual low. 

Bonds: My resistance was 3.5 from the actual high; my support was 6 from the actual low. 

Nat. Gas: My resistance was .019 from the actual high; my support was .045 from the actual low.   

Cattle:  My resistance was .10 actual high; my support was .20 from the actual low

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?  

The 9 markets now covered daily are March soybeans, March corn,  March crude oil, March S&P, March Euro FX, March 30 yr TBond, April gold, and March natural Gas and April 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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