June Cattle

After the close on 5/6/10: My resistance was 97.20, just .15 from the actual high, and my support was 94.80, .30 from the actual low.

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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 5/6/10

May 06, 2010



This report was sent to subscribers on 5/5/10 6:00 p.m. Chicago time to be used for trading on 5/6/10. 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 5/6/10: My resistance was 97.20, just .15 from the actual high, and my support was 94.80, .30 from the actual low.

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June Cattle (elec.) for 5/6/10: 

Same story now as before when 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".   

I say again on Wednesday "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 Wednesday; my resistance was .20 from the actual high, my pivot acted as support and was .42 from the actual low.

 Cattle: Accurate resistance and helpful support. The top channel line was spot on and once again shows you why I use these lines. Even though the market made a new high, it pulled back after jabbing just above it. If I attempted to sell at that line today, I would not risk more than .50 and would stand aside and not trade the market the rest of the day. I cannot buy this because of the location, but on the other hand I do not want to see how wrong I can be if I sell, because the next strong resistance is about 4 cents higher at the gap of 100.95 on the weekly chart. The only way I would be long if fundamentally (which I know little about) I was to think we could go a lot higher, I would use options with a known risk strategy no matter if I was long or short. It is not because of the cattle market, it is because of THIS type of CHART.           

June Cattle (elec.) for 5/5/10: 

Cattle: Spot on support and helpful resistance. Bulls continue to be in control and target the top channel line again now at 97.00. I cannot buy at this chart location but I would try a sell at resistance with a buy stop risking no more than .50 if wrong (does not hold).

June Cattle (elec.) for 5/4/10:

  Cattle: Spot on support and helpful resistance at best. Bulls had held the uptrend line for days and it was time to turn up the heat on the bears that could not close below that line. Buying above the pivot proved to be a low risk trade with nice reward. That is the foundation of my approach to becoming a casino and not the player. The trend lines, bracket lines, gaps and such are what provides me the "odds are in favor of the casino" because those things put the odds in my favor. When they hold they reward nicely, and when wrong (they do not hold) you do not lose much. Everyone should have a "line in the sand" to work with, no matter how you get that number (price).    

New subscribers should read all commentary because my mindset applies to all markets. Also, a chart is a chart, and you can learn from nine charts at once, instead of waiting for your market to present that line, or formation. This way you will know what to expect when your market sees that setup you observed in another market. This will speed up your learning speed of how I use my charts and how I derive my numbers.

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. 

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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