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Pro Farmer Tech Talk

RSS By: Jim Wyckoff, Pro Farmer

Pro Farmer technical analyst Jim Wyckoff's daily thoughts.

Jim's Afternoon Markets Report--May 22

May 23, 2012

Tuesday Evening, May 22-Jim Wyckoff's Daily Markets Update

Questions? Just email me at jim@jimwyckoff.com . I enjoy
hearing from my readers worldwide.--Jim

Click below for "Today’s Hot Market" item on my website.

http://www.jimwyckoff.com/hotmarket/hotmarket.asp

Dear Valued Subscriber: Following are today's significant
developments in the U.S. futures markets.

*. LIVESTOCK: August live cattle closed up $0.47 at $121.27
today. Prices closed nearer the session high today and saw
short covering and bargain hunting. The key “outside
markets” were bearish for the cattle market today as the
U.S. dollar index was higher and crude oil prices were
lower. That did limit the upside in cattle today. Bulls
have the slight near-term technical advantage. A three-
week-old uptrend from the April low is in place. The bulls'
next upside price breakout objective is to push and close
prices above solid technical resistance at $123.00. The
next downside technical breakout objective for the bears is
pushing and closing prices below solid technical support at
$118.00. First resistance is seen at today’s high of
$121.50 and then at $122.00. First support is seen at
$121.00 and then at today’s low of $120.30. Wyckoff's
Market Rating: 5.5

August feeder cattle closed up $1.02 at $160.12 today.
Prices closed nearer the session high today. Bulls have the
near-term technical advantage. Prices are in a three-week-
old uptrend on the daily bar chart. The next upside price
breakout objective for the feeder bulls is to push and
close prices above solid technical resistance at this
week’s high of $161.40. The next downside price breakout
objective for the bears is to push and close prices below
solid technical support at last week’s low of $156.20.
First resistance is seen at today’s high of $160.60 and
then at $161.00. First support is seen at $159.50 and then
at $159.00. Wyckoff's Market Rating: 6.5

August lean hogs closed down $0.92 at $86.85 today. Prices
closed nearer the session low today amid weaker pork
product prices. The key “outside markets” were also bearish
for the hog market today as the U.S. dollar index was
higher and crude oil prices were lower. Hog bears have the
overall near-term technical advantage at present. The next
upside price breakout objective for the hog bulls is to
push and close prices above solid chart resistance at last
week’s high of $89.50. The next downside price breakout
objective for the bears is pushing prices below solid
technical support at the contract low of $84.80. First
resistance is seen at $87.00 and then at today’s high of
$87.70. First support is seen at $86.50 and then at $86.00.
Wyckoff's Market Rating: 2.0

*. GRAINS: July corn futures closed down 31 1/2 cents at
$6.01 1/2 today. Prices closed nearer the session low today
and were pressured by weekly crop progress reports that
show the U.S. corn crop off to fast and good start. The key
“outside markets” were also bearish for the corn market
today as the U.S. dollar index was higher and crude oil
prices were lower. Corn bulls faded badly today after
gaining some decent upside momentum last week. Corn bulls'
next upside price breakout objective is to push and close
prices above solid technical resistance at this week’s high
of $6.44 1/2. The next downside price breakout objective
for the bears is pushing and closing prices below solid
technical support at the May low of $5.72 1/4. First
resistance for July corn is seen at $6.05 and then at
$6.10. First support is seen at today’s low of $5.95 and
then at the April low of $5.91 3/4. Wyckoff's Market
Rating: 3.0

July soybeans closed down 32 1/4 cents at $13.80 1/4 a
bushel today. Prices closed near the session low and hit a
fresh seven-week low today. Profit taking was featured as
well as selling pressure tied to a good start to the U.S.
soybean-growing season. The key “outside markets” were also
bearish for the soybean market today as the U.S. dollar
index was higher and crude oil prices were lower. Soybean
prices are now in a three-week-old downtrend on the daily
bar chart as the bulls are fading. Bean bulls still have
the overall near-term technical advantage. The next near-
term upside technical breakout objective for the soybean
bulls is pushing and closing prices above solid technical
resistance at this week’s high of $14.23 a bushel. The next
downside price breakout objective for the bears is pushing
and closing prices below solid technical support at $13.40.
First resistance is seen at $13.90 and then at $14.90.
First support is seen at today’s low of $13.75 and then at
$13.70. Wyckoff's Market Rating: 6.0.

July soybean meal closed down $11.50 at $405.00 today.
Prices closed near the session low again today. Meal bulls
still have the overall near-term technical advantage. The
next upside price breakout objective for the bulls is to
produce a close above solid technical resistance at this
week’s high of $422.50. The next downside price breakout
objective for the bears is pushing and closing prices below
solid technical support at the May low of $398.40. First
resistance comes in at $410.00 and then at $412.50. First
support is seen at today’s low of $404.00 and then at
$400.00. Wyckoff's Market Rating: 6.5

July bean oil closed down 42 points at 50.50 cents today.
Prices closed nearer the session low today. The key
“outside markets” were bearish for the bean oil market
today as the U.S. dollar index was higher and crude oil
prices were lower. While bean oil bears still have the
overall near-term technical advantage, my bias is that a
market low is in place, or close to it. Bean oil prices are
still in a six-week-old downtrend on the daily bar chart.
The next upside price breakout objective for the bean oil
bulls is pushing and closing prices above solid technical
resistance at last week’s high of 52.43 cents. Bean oil
bears' next downside technical price breakout objective is
pushing and closing prices below solid technical support at
50.00 cents. First resistance is seen at 51.00 cents and
then at today’s high of 51.28 cents. First support is seen
at today’s low of 50.35 cents and then at this week’s low
of 50.25 cents. Wyckoff's Market Rating: 2.0

July Chicago SRW wheat closed down 17 1/2 cents at $6.86
1/2 today. Prices closed nearer the session low today on a
profit taking and corrective pullback from recent strong
gains. The key “outside markets” were also bearish for the
wheat market today as the U.S. dollar index was higher and
crude oil prices were lower. Wheat bulls still have the
slight near-term technical advantage. Bulls’ next upside
breakout objective is to push and close Chicago SRW prices
above solid technical resistance at this week’s high of
$7.22 a bushel. The next downside price breakout objective
for the wheat futures bears is pushing and closing prices
below solid technical support at $6.60. First resistance is
seen at $6.90 and then at $7.00. First support lies at
today’s low of $6.81 3/4 and then at $6.75. Wyckoff's
Market Rating: 5.5.

July K.C. HRW wheat closed down 13 1/2 cents at $7.01 1/2
today. Prices closed nearer the session low today and saw a
corrective, profit-taking pullback from recent gains.
Prices Monday hit a 2.5-month high. Wheat bulls still have
the overall near-term technical advantage. Bulls' next
upside price breakout objective is pushing and closing
prices above solid technical resistance at the March high
of $7.31 1/2. The bears' next downside breakout objective
is pushing and closing prices below solid technical support
at $6.75. First resistance is seen at today’s high of $7.16
and then at this week’s high of $7.23 1/4. First support is
seen at today’s low of $6.98 and then at $6.90. Wyckoff's
Market Rating: 5.5

July oats closed down 8 1/2 cents at $3.33 1/2 today.
Prices closed near the session low today and scored a
bearish “outside day” down on the daily bar chart. Bulls
have the slight overall near-term technical advantage.
Bears' next downside price breakout objective is pushing
and closing prices below solid technical support at the
April low of $3.22. Bulls' next upside price breakout
objective is pushing and closing prices above solid
technical resistance at the May high of $3.50. First
support lies at $3.30 and then at the May low of $3.26.
First resistance is seen at $3.35 and then at $3.40.
Wyckoff's Market Rating: 5.5

*. SOFTS: July sugar closed down 46 points at 19.92 cents
today. Prices closed nearer the session low today and hit a
fresh 16-month low. The key “outside markets” were bearish
for the sugar market today as the U.S. dollar index was
higher and crude oil prices were lower. Sugar prices today
also saw a bearish downside “breakout” from a recent
trading range. Sugar bears have the solid overall near-term
technical advantage and gained more power today. Prices are
in a nine-week-old downtrend on the daily bar chart. Bulls'
next upside price breakout objective is to push and close
prices above solid technical resistance at last week’s high
of 20.93 cents. Bears' next downside price breakout
objective is to push and close prices below solid technical
support at 19.00 cents. First resistance is seen at 20.07
cents and then at 20.25 cents. First support is seen at
today’s low of 19.76 cents and then at 19.50 cents.
Wyckoff's Market Rating: 1.0.

July coffee closed down 115 points at 174.00 cents. Prices
closed nearer the session low today and are back near the
recent lows. The key “outside markets” were bearish for the
coffee market today as the U.S. dollar index was higher and
crude oil prices were lower. Coffee prices are in an 8.5-
month-old downtrend on the daily bar chart. The bears still
have the solid overall near-term technical advantage. The
coffee bulls' next upside breakout objective is to close
prices above solid technical resistance at the May high of
185.40 cents. The next downside price breakout objective
for the bears is closing prices below solid technical
support at 170.00 cents a pound. First resistance is seen
at today’s high of 177.00 cents and then at 180.00 cents.
First support is seen at today’s low of 172.85 cents and
then at the May low of 172.20 cents. Wyckoff's Market
Rating: 1.0

July cocoa closed down $63 at $2,175 a ton. Prices closed
nearer the session low and hit a fresh three-week low
today. The key “outside markets” were bearish for the cocoa
market today as the U.S. dollar index was higher and crude
oil prices were lower. Cocoa bears have the solid near-term
technical advantage and gained more power today. The next
upside price breakout objective for the cocoa bulls is to
push and close prices above solid technical resistance at
$2,300. The next downside price breakout objective for the
bears is pushing and closing prices below solid technical
support at $2,146. First resistance is seen at $2,200 and
then at $2,225. First support is seen at today’s low of
$2,163 and then at $2,146. Wyckoff's Market Rating: 2.5

July cotton closed down the 300-point limit at 74.52 cents
today. Prices careened to a fresh 21-month low today. The
key “outside markets” were bearish for the cotton market
today as the U.S. dollar index was higher and crude oil
prices were lower. The cotton bears have the solid near-
term technical advantage and gained more power today.
Prices are in a 3.5-month-old downtrend on the daily bar
chart. There are no early clues of a market low being close
at hand. The next upside price breakout objective for the
bulls is to produce a close above solid technical
resistance at 80.00 cents. The next downside price breakout
objective for the cotton bears is to push and close prices
below solid technical support at 70.00 cents. First
resistance is seen at 75.00 cents and then at 76.00 cents.
First support is seen at 74.00 cents and then at 73.00
cents. Wyckoff's Market Rating: 1.0

July orange juice closed up 150 points at $1.0830 today.
Prices closed near mid-range today and saw more short
covering in a bear market after prices Friday hit another
fresh contract low. FCOJ bears still have the solid overall
near-term technical advantage. Prices are in a four-month-
old downtrend on the daily bar chart. The next upside price
breakout objective for the FCOJ bulls is pushing and
closing prices above technical resistance at $1.2500. The
next downside technical breakout objective for the FCOJ
bears is to produce a close below solid technical support
at $.9000. First resistance is seen at this week’s high of
$1.1040 and then at $1.1250. First support is seen at
today’s low of $1.0660 and then at $1.0500. Wyckoff's
Market Rating: 1.0.

July lumber futures closed down $4.20 at $283.50 today.
Prices closed nearer the session low again today. Bulls and
bears are now back on a level near-term technical playing
field. The next downside technical breakout objective for
the lumber bears is pushing and closing prices below solid
technical support at the May low of $276.00. The next
upside price breakout objective for the bulls is pushing
and closing prices above solid technical resistance at the
February high of $294.00. First resistance is seen at
today’s high of $286.00 and then at $288.00. First support
is seen at today’s low of $283.00 and then at $281.00.
Wyckoff's Market Rating: 5.0

*. METALS: June gold futures closed down $12.40 an ounce at
$1,576.30 today. Prices closed nearer the session low again
today and were pressured by bearish “outside markets”—a
firmer U.S. dollar index and lower crude oil prices. While
recent upside price action did give the bulls a boost, they
need to show fresh power very soon to keep that near-term
momentum they gained late last week. Gold bears have the
overall near-term technical advantage. An 11-week-old
downtrend is in place on the daily bar chart. The gold
bulls’ next upside price breakout objective is to produce a
close above psychological resistance at $1,600.00. Bears'
next near-term downside price objective is closing prices
below solid technical support at last week’s low of
$1,526.70. First resistance is seen at today’s high of
$1,594.40 and then at $1,600.00. First support is seen at
today’s low of $1,572.00 and then at $1,567.80. Wyckoff's
Market Rating: 3.0.

July silver futures closed down $0.121 an ounce at $28.20
today. Prices closed nearer the session low again today.
The key “outside markets” were bearish for silver today, as
the U.S. dollar index was firmer and crude oil prices were
lower. Silver prices are in an 11-week-old downtrend on the
daily bar chart. The silver bears have the solid near-term
technical advantage. Bulls’ next upside price breakout
objective is closing prices above solid technical
resistance at last week’s high of $29.00 an ounce. The next
downside price breakout objective for the bears is closing
prices below solid technical support at the December low of
$26.50. First resistance is seen at today’s high of $28.775
and then at $29.00. Next support is seen at today’s low of
$27.975 and then at $27.78. Wyckoff's Market Rating: 3.0.

July N.Y. copper closed down 150 points 348.70 cents today.
Prices closed nearer the session low today. The key
“outside markets” were bearish for the copper market today,
as the U.S. dollar index was firmer and crude oil prices
were weaker. Copper bears have the overall near-term
technical advantage. Copper bulls' next upside breakout
objective is pushing and closing prices above solid
technical resistance at 365.00 cents. The next downside
price breakout objective for the bears is closing prices
below solid technical support at the January low of 340.60
cents. First resistance is seen at this week’s high of
352.05 cents and then at 355.00 cents. First support is
seen at 345.00 cents and then at last week’s low of 343.15
cents. Wyckoff's Market Rating: 3.0.

*. ENERGIES: July crude oil closed down $1.20 a barrel at
$91.66 today. Prices closed near the session low today and
were pressured by a stronger U.S. dollar index and a risk-
off trading day today.  Prices Monday hit a 6.5-month low.
The crude bears have the solid overall near-term technical
advantage. The next near-term upside price breakout
objective for the crude oil bulls is producing a close
above solid technical resistance at $98.00 a barrel. The
next near-term downside price breakout objective for the
crude oil bears is to produce a close below solid technical
support at $90.00. First resistance is seen at $92.00 and
then at $92.50. First support is seen at this week’s low of
$91.12 and then at $91.00. Wyckoff's Market Rating: 3.0

July heating oil closed down 35 points at $2.8617 today.
Prices closed near the session low. Prices Friday hit a
fresh 4.5-month low. Bears have the overall near-term
technical advantage as prices are in a two-month-old
downtrend on the daily bar chart. The bulls' next upside
price breakout objective is closing prices above solid
technical resistance at $3.0000. Bears' next downside price
breakout objective is producing a close below solid
technical support at $2.8000. First resistance lies at
today’s high of $2.8843 and then at $2.9000. First support
is seen at $2.8500 and then at last week’s low of $2.8290.
Wyckoff's Market Rating: 3.0.

July (RBOB) unleaded gasoline closed down 79 points at
$2.8567 today. Prices closed nearer the session low today.
Prices Friday hit a 4.5-month low. Bears have the near-term
technical advantage. A two-month-old downtrend is in place
on the daily bar chart. The next upside price breakout
objective for the bulls is closing prices above solid
technical resistance at $3.0000. Bears' next downside price
breakout objective is closing prices below solid support at
$2.7500. First resistance is seen at today’s high of
$2.8851 and then at $2.9000. First support is seen at
$2.8500 and then at this week’s low of $2.8157. Wyckoff's
Market Rating: 3.0.

July natural gas closed up 7.0 cents at $2.759 today.
Prices closed nearer the session high today. Prices Friday
hit an 11-week high. The bulls have some upside near-term
technical momentum. Bulls and bears are on a level near-
term technical playing field. The next upside price
breakout objective for the bulls is closing prices above
solid technical resistance at $3.00. The next downside
price breakout objective for the bears is closing prices
below solid technical support at last week’s low of $2.458.
First resistance is seen at today’s high of $2.799 and then
at last week’s high of $2.838. First support is seen at
today’s low of $2.652 and then at $2.60. Wyckoff's Market
Rating: 5.0.

*.STOCKS, FINANCIALS, CURRENCIES: The June Euro currency
closed down 81 points at 1.2710 today. Prices closed near
the session low today. While recent price action has
produced a bullish “key reversal” up on the daily bar chart
that is one early technical clue that a near-term market
bottom is in place, the bears still have the solid overall
near-term technical advantage and another down day on
Wednesday would likely render the key reversal down moot.
Euro prices are in a three-month-old downtrend on the daily
bar chart. Euro bulls' next upside price breakout objective
is pushing and closing prices above solid technical
resistance at 1.3000. The next downside price breakout
objective for the bears is closing prices below solid chart
support at last Friday’s contract low of 1.2644. First
resistance for the Euro lies at 1.2750 and then at 1.2800.
Next support is seen at 1.2700 and then at 1.2644.
Wyckoff's Market Rating: 2.0

The June Japanese yen closed down 110 points at 1.2494
today. Prices closed near the session low today as more
profit taking was featured. Prices Friday hit a three-month
high. Bulls still have the overall near-term technical
advantage. Prices are still in a two-month-old uptrend on
the daily bar chart. Bulls' next upside price breakout
objective is closing prices above solid resistance at last
week’s high of 1.2663. Bears' next downside breakout
objective is closing prices below solid technical support
at last week’s low of 1.2416. First resistance is seen at
1.2550 and then at 1.2600. First support is seen at today’s
low of 1.2476 and then at 1.2450. Wyckoff's Market Rating:
6.0.

The June Swiss franc closed down 68 points at 1.0582 today.
Prices closed near the session low today. Prices Friday hit
a four-month low. The bears still have the solid near-term
technical advantage in the Swissy. Prices are in an 11-
week-old downtrend. The next upside price breakout
objective for the bulls is closing prices above solid
resistance at 1.0800. The next downside price breakout
objective for the bears is closing prices below solid
technical support at the January low of 1.0489. First
resistance is seen at 1.0600 and then at 1.0650. First
support is seen at 1.0575 and then at last week’s low of
1.0530. Wyckoff's Market Rating: 2.0.

The June Australian dollar closed down 55 points at .9794
today. Prices closed near the session low today. Prices
Friday hit a fresh five-month low. Bears have the solid
near-term technical advantage. Prices are in an 11-week-old
downtrend on the daily bar chart. Bulls' next upside price
breakout objective is closing prices above solid chart
resistance at 1.0150. The next downside breakout objective
for the bears is to produce a close below solid technical
support at .9700. First resistance is seen at .9900 and
then at .9950. Next support is seen at last week’s low of
.9766 and then at .9700. Wyckoff's Market Rating: 3.0

The June Canadian dollar closed down 25 points at .9779
today. Prices closed near the session low today. Prices
Monday hit a 4.5-month low. Bears have the near-term
technical advantage. Bulls' next upside price breakout
objective is producing a close above chart resistance at
.9950. The next downside price breakout objective for the
bears is closing prices below solid technical support at
the December low of .9570. First resistance is seen at
.9800 and then at today’s high of .9843. First support is
seen at this week’s low of .9752 and then at .9700.
Wyckoff's Market Rating: 4.0.

The June British pound closed down 50 points at 1.5754
today. Prices closed near the session low today and closed
at a fresh nine-week low close. Bears have the near-term
technical advantage. The next upside price breakout
objective for the bulls is closing prices above solid
technical resistance at 1.6000. Bears' next downside
technical breakout objective is closing prices below solid
support at the March low of 1.5591. First resistance is
seen at 1.5800 and then at today’s high of 1.5847. First
support is seen at last week’s low of 1.5730 and then at
1.5700. Wyckoff's Market Rating: 4.0.

The June U.S. dollar index closed up 59 points at 81.82
today. Prices closed near the session high today and saw
safe haven buying. The index hit a fresh four-month high on
Friday. Bulls have the solid overall near-term technical
advantage. Bulls' next upside price breakout objective is
to close prices above solid technical resistance at the
January high of 82.28. The next downside price breakout
objective for the bears is to produce a close below solid
technical support at 80.00. Next resistance lies at last
week’s high of 81.93 and then at 82.28. First support is
seen at 81.50 and then at this week’s low of 81.02.
Wyckoff's Market Rating: 7.5.

June U.S. T-Bonds closed down 27/32 at 147 2/32 today.
Prices closed near mid-range today and saw more profit
taking after prices last week hit a contract high on safe-
haven investment demand. Bulls still have the solid overall
near-term technical advantage. Prices are in a nine-week-
old uptrend on the daily bar chart. There are no early
technical clues to suggest a market top is close at hand.
The next downside price breakout objective for the T-Bond
bears is closing prices below solid technical support at
145 even. The next upside technical objective for the bulls
is to produce a close above solid technical resistance at
150 even. First resistance is seen at today’s high of 147
25/32 and then at 148 even. First support is seen at
today’s low of 146 22/32 and then at 146 even. Wyckoff's
Market Rating: 8.0.

June U.S. T Notes closed down 6.0 (32nds) at 133.14.0
today. Prices closed nearer the session high today and saw
more profit taking after hitting a contract high last week.
Bulls still have the solid overall near-term technical
advantage. Prices are in a two-month-old uptrend on the
daily bar chart. The next upside price breakout objective
for the bulls is closing prices above solid resistance at
134.00.0. The next downside price breakout objective for
the bears is producing a close below solid technical
support at last week’s low of 132.17.5. First resistance is
seen at today’s high of 133.18.5 and then at this week’s
high of 133.24.0. First support is seen at 133.11.5 and
then at today’s low of 133.04.0. Wyckoff's Market Rating:
8.0

GENERAL STOCK MARKET COMMENT: The U.S. stock indexes closed
slightly lower today. The market place received a negative
surprise overnight when the Fitch credit rating agency
downgraded Japan’s sovereign debt rating due to the
increasing public sector debt load. That news boosted the
U.S. dollar index but put selling pressure on many
commodity markets and also limited buying interest in the
U.S. stock indexes. Traders are now awaiting a European
Union leaders’ summit meeting in Brussels on Wednesday.
Also on Wednesday the Western powers meet with Iran in
Baghdad, regarding Iran’s nuclear program. The early talk
is that the Baghdad meeting could see progress made, which
would be further bearish news for the crude oil market

The Nasdaq stock futures index closed down 7.25 at
2,536.25. Prices closed near mid-range today. Prices Monday
hit a 4.5-month low. Bulls' next upside price breakout
objective is closing prices above solid resistance at
2,650.00. The bears' next downside price breakout objective
is closing prices below solid technical support at
2,400.00. First resistance is seen at today’s high of
2,561.50 and then at 2,575.00. First support is seen at
today’s low of 2,522.25 and then at 2,500.00. Wyckoff's
Market Rating: 5.0

The S&P 500 futures index closed down 1.80 at 1,313.90.
Prices closed near mid-range today. Prices Monday hit a
four-month low. Bulls' next upside price breakout objective
is closing prices above solid resistance at 1,380.00. The
next downside price breakout objective for the bears is
closing prices below solid support at 1,250.00. First
resistance is seen at today’s high of 1,326.50 and then at
1,340.00. First support is seen at today’s low of 1,307.80
and then at 1,300.00. Wyckoff's Market Rating: 5.0.

The Dow futures closed down 10 points at 12,480 today.
Prices closed near mid-range today. Prices Friday hit a
fresh four-month low. The next upside price objective for
the bulls is closing prices above solid technical
resistance at 13,000. The next downside price objective for
the bears is closing prices below solid technical support
at 12,000. First resistance in the Dow lies at 12,500 and
then at today’s high of 12,550. First support is seen at
12,450 and then at today’s low of 12,430. Wyckoff's Market
Rating: 5.0.

Click below for my welcome letter to all new customers and
for an explanation of my Market Rating System.

http://www.jimwyckoff.com/newsletter/WelcomeAboard/

IMPORTANT NOTE: I am not a futures broker and do not manage
any trading accounts other than my own personal account. It
is my goal to point out to you potential trading
opportunities. However, it is up to you to: (1) decide when
and if you want to initiate any traders and (2) determine
the size of any trades you may initiate. Any trades I
discuss are hypothetical in nature.

Here is what the Commodity Futures Trading Commission
(CFTC) has said about futures trading (and I agree 100%):
1. Trading commodity futures and options is not for
everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS.
Before you invest any money in futures or options
contracts, you should consider your financial experience,
goals and financial resources, and know how much you can
afford to lose above and beyond your initial payment to a
broker. You should understand commodity futures and options
contracts and your obligations in entering into those
contracts. You should understand your exposure to risk and
other aspects of trading by thoroughly reviewing the risk
disclosure documents your broker is required to give you.

Jim Wyckoff
 

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