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Patrick's Ponder:
The second point of the philosopher Isidore as quoted by Thomas Aquinas
regarding the nature of law:
"That it be helpful to discipline, inasmuch as it is
proportioned to the natural law"
I think the above thought can be interpreted into trading
from the standpoint that your method of utilizing the market
must be one which assists you in maintaining your
discipline. Over trading or risking to large a
percentage of your total capital are easy examples of
trading methods which would go against the natural laws of
economics and not enhance your ability to maintain the
necessary market discipline needed to reach your goals.
TrendRanger
(GLTC proprietary trend probabilities)
Pat's Plog ( Pat's daily market opinion plogging)
Market's apparently seem to be going to sleep ahead of U.S.
government August recess. Considering politicians get
the ENTIRE month! of August off compared to the rest of us
working stiffs, its no wonder some people decide the public
service "gig" is worth the hassle besides all the power the
seem to garner.
Crop conditions apparently slightly better
yesterday, some water (actually quite a bit depending where
you were in the Midwest especially over the weekend).
Corn, Wheat , Oats all closing lower on the day. Some
technical chart difficulties cropping up as of late against
uptrend which got started after last USDA report.
Weather also factoring in at the moment.
Energies - crude oil struggling a bit on
the day, but not enough in my opinion to negate recent
positive strength. However, some of the previous
uptrending momentum from earlier in the week probably has
been lost.
Metals - Gold seeming to indicate with
downtrending behavior which started at the beginning of July
that markets maybe in the near term are not as worried about
inflation?
Livestock - Cattle retracing some or
uptrending move started in June., Feeder position same as
fat cattle. Hog charts showing some slight positive,
however not a whole to bring as collateral to your banker.
Softs - Cocoa first 1/2 negative sign since
the middle of May. I have noticed cocoa has made the news as
of late, as the old saying goes once the market news "hits
the press" the move is probably over, might prove true this
time? Sugar maintaining uptrending strength
which got started about the middle of June. Coffee -
showed 1/2 negative last week, retraced some of last weeks
move but looking like it is struggling to resume previous
uptrend, South American weather issues seem to be
"taming" down. October Cotton put in 1/2 positive last
week and a 2nd positive today. However, December
cotton not showing similar picture of the strength of
October cotton. Maybe October cotton strength can
"drag" December higher to provide better pricing
opportunities etc. Orange Juice 1/2 negative last
week, with strong retracement going on to see just how
"committed" the sellers are from last week?
Currencies - USD trend is down which generally means most other currencies trend is more up than down. (for the sake of not typing to much please note I am making a gross generalization).
Stocks - Dow putting in 1/2 positive, keeps trend basically sideways, S&P position similar to Dow, trend sideways to slightly up.
If you have more specific questions regarding my opinions
or specific questions relating to managed futures, hedging
or individual speculating please contact me.
Patrick Sullivan
President
Great Lakes Trading Co., Inc.
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