Archive | September, 2009

Q3 Window Dressing

2009′ is 3/4 over how is your performance? You’ve had to pick your points in commodities but for the most part being long currencies against the US dollar and long metals have been the plays. We’ve had success as well in the softs, i.e sugar, coffee, OJ, and coffee. We feel the big swings today […]

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Treasuries Waffle Ahead of Data

A surprise drop in consumer confidence reversed early morning weakness in Treasuries but the bulls struggled to keep momentum. While the recent trend has been higher, bonds and notes face significant resistance. According to the Conference Board, their confidence index fell to 53.1 in September after posting 54.5 in August. Analysts were expecting an increase […]

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Light Volume with Holiday

Do not read into market activity today as volumes were light on the Jewish holiday of Yom Kippur.  As long as crude holds Friday’s low we will remain long with clients; November contract $65.05.  LivOctober expires today in natural gas with November becoming the active contract. Recognize this market still trades in deep contango so overnight […]

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Calm Before the Storm?

Treasury traders are fickle ahead of the Fed’s interest rate decision due out tomorrow afternoon. It seems as though the light volume and lack of direction will carry into tomorrow morning but we could see fireworks in post-FOMC trade. The rate announcement is scheduled to be made at a quarter after 2pm Eastern, so that […]

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MB Wealth Commentary

Energies For the last 6 weeks Crude oil has been sideways trading in a $10 range and we don’t see this changing in the near future. Traders need to be nimble and pick their spots carefully. We prefer buying dips closer to the bottom of the range. Presently clients hold December $75/.80 call spreads. On […]

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Gold Continues to Shine

This week the Gold and Silver markets have been on a “Bullish Tirade” fueled by many economic factors. On Tuesday U.S retail sales revealed producers surged higher than expected indicating business was improving. Federal Reserve Chairman Ben Bernanke was quoted as saying “Even though from a technical perspective the recession is very likely over at […]

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Wheat Bears Still in Technical Command

Soft red winter wheat futures for December delivery at the Chicago Board of Trade on Tuesday hit a fresh contract low of $4.50 a bushel. Prices are in a steep 3.5-month-old downtrend on the daily bar chart. There are no early technical clues to suggest a market bottom is close at hand. Since the June […]

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Market Deep in Contango

Energies Crude oil is trying to make a decision on where to go from here, the way I see it on a breach of either $73 or $67 in October that will determine if prices move higher or lower. With peak driving demand and hurricane season behind us it we could get a spike lower […]

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Daly Gold Comments

Gold Closes $9.60 HIGHER Today… ($1006.40) Gold rallied to its highest level since March of 2008. This session concluded the 4th straight week Gold has advanced. There are many reasons for this latest surge in Gold such as Extreme weakness in the U.S. Dollar versus the Euro, higher Energy prices as of late, and the […]

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