This is a sample entry from Drew Rathgeber’s newsletter, The Rath Overlay, published on November 16, 2012.
Changes to CME Globex Trading Hours Effective This Sunday, November 18th.
All Times Listed In Central Time (CT)
- MONDAY-FRIDAY: 5:00pm CT the previous day – 4:15pm CT.
- There will be a 15-minute trading halt from 3:15pm CT – 3:30pm CT
In the news today:
I can still recall back 5-6 years ago, when N. Korea made any mention of its nuclear program Gold would jump $20-$30oz. Not so these days as Israel and Hamas are firing actual rockets at each other now. However, I believe this is the market to watch in the coming months.
Market Comments: I see a possible short entry, and will wait till Monday for confirmation. Short from 1350-1352, protective stop at 1360. Target 4-6pts.
Market Comments: I am a bit surprised this market isn’t trading $50-$100 higher due to fundamentals. However as they say the turtle wins the race. It’s a bit trick, due to the sideways action, will have to wait for better confirmation of which direction.
Market Comments: Once again, this market is lackluster at best. Sideways chop seems to be the theme this week. Look for possible entry around the 84.70 area, not risking more than .25-.50 cents depending on your account size.
Wrap-up comments: Pre-election I personally haven’t traded much and continue to hold till I have a more definitive direction in the markets. If my volume is any indication, I’d have to say most of you are in the same trading pattern.
STOP ORDERS DO NOT NECESSARILY LIMIT YOUR LOSS TO THE STOP PRICE BECAUSE STOP ORDERS, IF THE PRICE IS HIT, BECOME MARKET ORDERS AND, DEPENDING ON MARKET CONDITIONS, THE ACTUAL FILL PRICE CAN BE DIFFERENT FROM THE STOP PRICE. IF A MARKET REACHED ITS DAILY PRICE FLUCTUATION LIMIT, A "LIMIT MOVE", IT MAY BE IMPOSSIBLE TO EXECUTE A STOP LOSS ORDER.
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