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July 24th, 2020 Newsletter

Silver futures explode higher breaking above the $23 mark. We take a look at why and possible levels to watch going forward. Take a look at your trading and build a better foundation for successful trading with these 8 steps.

July 24th, 2020 - Issue #1015

In This Issue

1. Trading 102: Do You Have the Foundation for Successful Trading?
2. Hot Market Report: Silver Futures Surge Higher
3. Economic Calendar

1. 8 Steps to Building a Better Trading Foundation

My name is Ilan Levy-Mayer and I am the Vice President and Senior Futures Broker at Cannon Trading. I came up with the following personal observations after serving online traders worldwide for more than 20 years.

The following steps are guides to progress, and are not necessarily in sequential order. Some of them are always required, but each futures trader is different and will relate to these stages in their own ways. While attempting to learn and progress, one must keep in mind that futures trading is risky and can involve significant losses.

1. Education

Hopefully if you are already trading you have completed your initial education: contract specs, trading hours, futures brokers, platforms, the opportunities as well as the risk and need to use risk capital in futures, and so on. Understanding this information is essential to futures trading. The second type of education is ongoing: learning about trading techniques, the evolution of futures markets, different trading tools, and more.

2. Find a System

I am definitely not advising you to go on the web and subscribe to a "black box" system (using buy/sell triggers if don't know why they are being generated). What I am advising is developing a trading technique: a general set of rules and a trading concept. As you progress, you may want to put the different rules and indicators into a computerized system, but the most important factor is to have a focus and a plan. Don't just wake up in the morning and trade "blank."

3. Survival

This is the key! Do what you need to do in order to survive this brutal business and give yourself the chance of being here down the road with more experience and a better chance of success. Survival is probably the biggest key for beginning traders. There is a saying in this business: "live to trade another day." It is so true!

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2. Hot Market Report: Silver Futures Surge Higher

By Joe Easton & Matt Kang, Senior Brokers

Click on image below to enlarge

SI futures;

This week’s highlighted Market is Silver. Silver belongs to the "metals family": Gold, Silver, Copper, Platinum, Palladium. All traded on the COMEX exchange..

Hi Ho Silver Away! Silver futures have been increasing volatility and experiencing a short term Bull Run. This last month Silver Futures have increased 27% going from $18 to now $23 per oz. This $5 dollar move equates to $25,000 per 1 contract ( in your favor or against you....). Since May silver has increased over 45%!!
Investors have flocked to the Silver on surging demand for havens amid a resurgence in virus cases, slowing growth, negative real interest rates in the U.S., flaring political tensions and a weaker dollar.

The next resistance is $23.50-$25.20 from August 2013. Immediate support at: $21.65 and $19.80

One way to trade a volatile market such as this one, is by using options. One can buy vertival call spreads and buy more time or one can speculate with shorter term outright calls and puts. This will still allow exposure to gains, while capping your risk by the amount you pay for the option. Reach out to your Broker for more information and insight into options, options spreads and the general risks and opportunities in futures trading.

Daily chart of silver Futures for your review from this morning ( July 24th, 2020). Silver is "usually" volatile enough and liquid enough to be suitable for both day trading and swing trading as well as some interesting options and options spreads. To access a free trial to the ALGOS shown in the chart visit and sign up for a free trial for 21 days with real-time data.


SILVER Futures Specs
Hours: 05:00 PM previous day to 4:00 PM Central Time
Margins: $8800 initial, $8000 Maint. ( as of the date of this newsletter)
Point Value: full point = $5000 ( Example: 16.80 to 17.80 ). Min fluctuation is 0.05 = $25 ( Example: 16.800 to 16.805) Settlement: Physical Delivery
Months: January, March, May, July, September,December. F,H,K,N,U,Z
Weekly Options:YES

Some of the basic fundamentals to keep in mind when you are considering trading the Silver for this matter:
1. Research supply side in major silver producing countries like Mexico, China, and Peru.
2. Follow both the industrial demand and investment demand for silver
3. Focus in macroeconomics not microeconomics
4. Correlation to gold
5. Correlation to US Dollar prices
6. Inflationary prospects
7. Geopolitical Stability
8. U.S. Fiscal and Monetary Stability

Our brokers here at Cannon will be happy to chat about the silver market, other metals, other futures, options, futures spreads and much more! Feel free to contact us at any time.

3. Economic Calendar

Source: Moore Research Center, Inc.

Date Reports Expiration & Notice Dates
07/24
Fri
9:00 AM CDT - New Home Sales(Jun)
2:00 PM CDT - Cattle
2:00 PM CDT - Cattle On Feed
 
LT: Aug 2,5,10 Year Notes Options(CBT)
Aug Bonds Options(CBT)
Aug Wheat Options(CBT)
Aug Corn Options(CBT)
Aug Oats Options(CBT)
Aug Rough Rice Options(CBT)
Aug Soybeans,Soymeal,Soyoil Options(CBT)
07/27
Mon
7:30 AM CDT - Durable Orders(Jun)
7:30 AM CDT - Durable Goods-Ex Transportation(Jun)
3:00 PM CDT - Crop Progress
 

 
 
 
 
07/28
Tue
8:00 AM CDT - S&P Case-Shiller Home Price Index(May)
9:00 AM CDT - Consumer Confidence(Jul)
3:30 PM CDT - API Energy Stocks
 
LT: Aug Copper Options(CMX)
Aug Gold & Silver Options(CMX)
Aug RBOB & ULSD Options(NYM)

07/29
Wed
6:00 AM CDT - MBA Mortgage Index
9:00 AM CDT - Pending Home Sales(Jun)
9:30 AM CDT - API Petroleum Status Report
1:00 PM CDT - FOMC Rate Decision(Jul)
2:00 PM CDT - Dairy Products Sales
LT: Jul Copper(CMX)
Jul Gold & Silver(CMX)
Jul Platinum & Palladium(NYM)
Aug Natural Gas(NYM)
07/30
Thu
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - GDP-Adv(Q2)
7:30 AM CDT - Chain Deflator-Adv(Q2)
9:30 AM CDT - EIA Natural Gas Report
3:30 PM CDT - Money Supply
FN: Aug Natural Gas(NYM)
 
 
 
07/31
Fri
7:30 AM CDT - Personal Income & Spending(Jun)
7:30 AM CDT - PCE Prices & Core(Jun)
7:30 AM CDT - Employment Cost Index(Q2)
8:45 AM CDT - Chicago PMI(Jul)
9:00 AM CDT - Univ of Mich Consumer Sent-Final(Jul)
FN: Aug Copper(NYM)
Aug Gold & Sliver(CMX)
Aug Platinum & Palladium(NYM)
Aug Soybeans,Soymeal,Soyoil(CBT)
LT: Jul Bitcoin(CME)
Jul Black Sea Wheat(CME)
Jul Fed Funds(CME)
Aug RBOB & ULSD(NYM)
Jul Black Sea Wheat Options(CME)
Jul Fed Funds Options(CME)
Aug Lumber Options(CME)

08/03
Mon
9:00 AM CDT - Construction Spending(Jun)
1:00 PM CDT - Auto & Truck Sales(Jul)
2:00 PM CDT - Cotton System
2:00 PM CDT - Grain Crushings
2:00 PM CDT - Fats & Oils
3:00 PM CDT - Crop Progress

 
 
 
08/04
Tue
9:00 AM CDT - Factory Orders(Jun)
3:30 PM CDT - API Energy Stocks
 
 
FN: Aug RBOB & ULSD(NYM)
LT: Jul Butter(CME)
Jul Milk(CME)
Jul Butter Options(CME)
Jul Milk Options(CME)
08/05
Wed
6:00 AM CDT - MBA Mortgage Index
7:15 AM CDT - ADP Employment Change(Jul)
7:30 AM CDT - Adv Intl Trade In Goods(Jun)
7:30 AM CDT - Adv Retail Inventories(Jun)
7:30 AM CDT - Adv Wholesale Inventories(Jun)
7:30 AM CDT - Trade Balance(Jun)
9:30 AM CDT - EIA Petroleum Status Report
2:00 PM CDT - Dairy Products Sales

 
 
 
08/06
Thu
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
9:00 AM CDT - ISM Non-Manufacturing Index(Jul)
9:30 AM CDT - EIA Natural Gas Report

 
 
 
FN=First Notice, OE=Option Expiration, LT=Last Trade

Disclaimer: This calendar is compiled from sources believed to be reliable. Moore Research Center, Inc. assumes no responsibility for any errors or omissions. It is meant as an alert to events that may affect trading strategies and is not necessarily complete. The release dates for certain economic reports may have been rescheduled.

* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.

** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.

*** This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading!

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