Archive | May, 2006

COMEX Gold Futures

COMEX Gold Futures Dart Blip Top

Presently long-term (SR Channel applied to monthly chart) SR channel support is approximately within the 530 area. Based on general technical analysis, as well what is being dictated by my trading algorithms, neural nets etc., I believe that gold will see a consolidation at these levels. Sell after Memorial Day come back after Labor Day […]

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Slick operators

How hedge funds, traders, and Big Oil are really driving gas prices. Herdge Funds don’t make huge wagers on the direction of oil – instead they make smaller bets on the spreads between different products in what traders call the energy complex. That might mean buying light, sweet crude while selling the heavy, sour stuff, […]

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Trading Competition

New CTA Challenge to Begin June 1, 2006 CHICAGO–(BUSINESS WIRE)–May 18, 2006–Peregrine Financial Group, Inc. (PFG) begins another new CTA Challenge on June 1, 2006 to identify and showcase Commodity Trading Advisor (CTA) talent, strategies and techniques. (more…)

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U.S. Dollar Indexf

No Signs of a Bottom in U.S. Dollar Index

The June U.S. dollar index futures at the New York Board of Trade last week hit a fresh contract low of 83.41. The index bears are in full technical command as an accelerating downtrend line is in place on the daily bar chart, from the March 10 high of 90.79. Below present price levels in […]

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Bull Guts Spread

While this years crop is big, demand remains quite high. Also the surge in demand for corn that is converted into ethanol is also a point that should not be ignored. Even if Crude Oil prices fall by $10 or more per barrel (which I doubt) demand for ethanol and other alternatives should continue to […]

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Gold Price Action in 1980

Classic technical analysis teaches that history repeats itself in all markets. It also teaches that major price highs and lows in markets should be considered major technical support and resistance levels for those markets. June gold futures prices last week hit a fresh contract and 25.5-year high of $732.00 an ounce–taking out by a mere […]

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Gold $700 per ounce

Pedal to the Metal

The price of gold continued its relentless ascent and broke the barrier of $700 a troy ounce, less than a month after passing $600. A contributing factor was the weak dollar, which led investors to diversify into precious metals.

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Scramble to recruit commodity traders

By Kevin Morrison The hottest commodity in the booming commodities markets would seem to be the traders themselves. So great is the scramble to strengthen once-neglected commodity trading desks and so scarce is the top talent that experienced traders are now commanding seven-figure sign-on fees and bonuses to match. (more…)

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Finding Comfort (and New Friends) in Gold

By Landon Thomas Jr. IT’S a splendid spring day in Connecticut’s horse country and James E. Sinclair, perhaps the best-known gold speculator of his era, is sitting before his trading terminal, contemplating the upward thrust of gold on his trader’s chart. The sun, bursting through the bay windows, catches the glint of gold that is […]

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Bullish Upside “Breakout” in Cocoa

July cocoa futures on the New York Board of Trade Tuesday saw a bullish upside “breakout” from a trading range defined by what was solid technical resistance at last week’s high of $1,545, and by solid technical support at last week’s low of $1,497. Prices Tuesday hit a fresh three-month high of $1,565 a ton. […]

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