December Cattle Daily Numbers & Trade Ideas for 12/7/09

Published on: 16:25PM Dec 07, 2009


This report was sent to subscribers on 12/5/09 8.00 a.m. Chicago time to be used for trading on 12/7/09. Everything is done by Howard Tyllas, no program or black box.

December Cattle

After the close on 12/7/09: My resistance  was 81.85, .20 from the actual high, and my support was 80.67, .27 from the actual low.

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--------------80.67      Pivot

79.50                         Low since June 15, 2008


     Use the same numbers as used on 12/4/09


Trend                         87.87 is the 200 day MA

5 day chart....…. Down  from last week same day                                                          

Daily chart   ……….Down        

Weekly chart …….. Sideways   

Monthly chart …...  Sideways

ATR .90                    Extremely Oversold 8%  

December Cattle (elec) for 12/7/09: 

  I said "The red steep downtrend line finds resistance at 83.00; support is at 79.50 on the weekly chart". I want to sell rallies near the downtrend line.

Notice how the lower channel line acted as perfect support on Wednesday, and perfect resistance on Thursday.

 In my daily numbers on Friday; my resistance was .55 from the actual high, my support was .12 from the actual low.  

Cattle: Market is in trouble, and for me I need a few more daily bars to setup a place for an attempt to buy and get long. Not easy to buy, but this location is long term support and attracts bottom pickers. Close below $79 could cause panic liquidation if it has not been doing that already. I am not interested in selling here, but as for buying using a sell stop for a day trade might be tempting, but last week that idea did not work at all.

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           May Your Next Trade Be The Best                          

                     Howard Tyllas            

   Tel.1-312-573-2699, 1-312-961-4390

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.