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CHARTSMITH Market Update Greetings fellow traders! ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ This week was as volatile as promised due to the extended holiday weekend.
Most markets continue to seek lower ground, but one precious metal is reaching for the stars... Cotton December 09 Cotton remains on our watchlist--Still watching for a buy signal to develop... To view the daily chart go to: http://futures.tradingcharts.com/chart/CT/C9 Eurodollar
Lumber November 09 Lumber is still consolidating, closing out the week at $177.50 per 1,000 Board Feet. Still watching the tools for a buy signal as we near lumber's long seasonal tendency (in by Halloween, out by Valentines)... To view the chart go to: http://futures.tradingcharts.com/chart.php?cbase=LU&market=LB&cterm=B9 Natural
Gas Orange Juice November 09 FCOJ broke support on Thursday, September 3rd, with follow-through on Friday closing lower for the week at 91.65 cents per pound. This market has returned to the Low Zone, watching for a long side entry to develop... To view the chart go to: http://futures.tradingcharts.com/chart/OJ/B9 SUGAR Sugar had an active week. Monday and Tuesday saw fresh contract highs only to close the week down huge. March 2010 contract closed the week down 2.85 cents per pound. Most of the price decline occurred on Friday, September 4th on the NYBOT (ICE) exchange. Averaged-in premium on the 21.00 strike option is @ 2.07 points per Put with a draw down of $212.80 each, as of Friday's close. (1 point = $1,120) To view the daily chart go to: http://futures.tradingcharts.com/chart.php?cbase=SU&market=SB&cterm=30 U.S. Dollar Index The US Dollar Index is forming a sideways channel - still waiting for a long side entry to develop... Note: Beginning next week we will be watching the December 2009 contract month. To view the daily chart go to: http://futures.tradingcharts.com/chart.php?cbase=US&market=DX&cterm=99 ChartSmith monitors commodity futures markets in the Low (wholesale) Zone
for the Buy Low—Sell High profit opportunity and the High (retail) Zone for the Sell High—Buy Low
profit opportunity. Complete details for these and other low risk, high profit trade setups are included in the book, ChartSmith-Forging Your Financial Future.
New Addition to the ChartSmith watchlist! Gold; the December 09 contract month is tempting the all powerful resistance point of $1,000/Troy oz. If gold prices clear the $1,000 mark we'll be watching the RSI for a short side entry signal. December gold finished the week up $46.60. We'll be keeping an eye on this potential golden opportunity! ($1 = $100) Special Request Has reading ChartSmith - Forging Your Financial Future given you further insight into trading today's commodity futures markets?...or did reading the book help to unravel some of the mystery surrounding the markets?...over time, will the information contained in the book make a substantial and positive difference in your approach to investing in global commodities?...did the book assist you in believing you can selectively invest in the markets from time to time, safely and profitably? If you answered YES to any of these questions, we have a special request for you; we would be both honored & grateful to you for taking a few moments to share your thoughts for readers to see...this can be as simple as a few words, a sentence, or a paragraph. It's up to you...your words mean a lot to us and we know readers will enjoy hearing what you have to say! Please submit your testimonial using this form;
Quote(s) of the Week
Hide not your talents. They for use were made. What's a sundial in the shade? ~Benjamin Franklin When your concentration reaches the ultimate point of sincerity, then there can be a transformation. ~Hsuan Hua Thanks for joining us for this week's paper trading market update. As always, we appreciate hearing about your thoughts and ideas, and your trading successes and learnings. Please feel free to email us anytime at scott@mychartsmith.com. God Bless! Scott and the ChartSmith Team  Please read our IMPORTANT NOTICE: Futures and Options trading has large potential
rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in
the futures and options markets. Don't trade with money you can't afford to lose. Nothing in our commodity futures
workshops, website, or newsletter shall be deemed a solicitation or an offer to Buy/Sell futures and/or options. No representation
is being made that any account will or is likely to achieve profits or losses similar to those discussed during the workshops
or on our site. Also, the past performance of any trading methodology is not necessarily indicative of future results.
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