February Cattle Daily Numbers & Trade Ideas for 12/16/09

Published on: 22:59PM Dec 17, 2009

This report was sent to subscribers on 12/15/09 6:00 p.m. Chicago time to be used for trading on 12/16/09. Everything is done by Howard Tyllas, no program or black box.

February Cattle

After the close on 12/16/09: My pivot acted as resistance and was 85.30, just .10 from the actual high, and my support was 84.32, the EXACT actual low.

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86.27                        Key resistance (Downtrend line)

--------------85.30     Pivot


83.27 FG



Trend                         88.50 is the 200 day MA

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

Daily chart   ……….Down        

Weekly chart …….. Sideways 

Monthly chart …...  Sideways

ATR .87                    Overbought 86%  

February Cattle (elec.) for 12/16/09: 

Major resistance is the long term downtrend line near 86.30. Support is the steep uptrend line near 84.32, and then the gaps at 83.27 and at 82.17.

   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 Tuesday; my resistance was .02 from the actual high, my pivot acted as support and was .35 from the actual low.

Cattle: Spot on resistance stopped the rally in its tracks, support was helpful. Market closing above the first downtrend line is friendly, that line now acts as support. Long term downtrend is next for the bulls and will prove tough to hurdle.

You see the same downtrend lines as I do; I want to sell this correction in a bear market. I would have sold yesterday and stopped out for a small loss, and would have resold near resistance and remain short looking to buy back near support today or tomorrow. I would sell near 86.00 with a buy stop at 86.30 stop close only. If I was aggressive I would sell against the pivot with a buy stop just above to protect


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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.



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