Archive | December, 2009

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Live Cattle Hover Near Contract Low

click on the chart to enlarge February live cattle futures on the Chicago Mercantile Exchange last week hit a fresh contract low of $82.75. Prices then saw a tepid short-covering bounce, only to back off again and presently hover near the contract low. Prices are presently in a six-week-old downtrend on the daily bar chart. […]

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As the Greenback Turns

Five consecutive lower days in Crude oil; on a breach of $72 in January a trade down to the September lows could be in the cards. Look for a higher trade in the dollar for guidance. We would advise booking profits in both futures and options on all remaining natural gas. Ideally traders took advantage […]

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Oversold Bounce but Buyers Reluctant

An overnight global bid kept the Treasury complex in positive territory for much of the session but the buying seemed to be of a “dead cat bounce” nature; another round of auctions have supply on the minds of traders. It was a slow news day, making Ben Bernanke’s speech the most exciting event. The Fed […]

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Weekly Metals Report

So far this week we have seen all-time highs ($1227.50) in the Gold market and watched Silver trade over $19.40 per ounce. The Gold market has been fueled by an influx of speculators, hedge funds and central banks all seeking to add to their positions and reserves. Many countries are moving out of their U.S […]

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Choppy Up-Trend Still in Place in Chicago Wheat

March soft red winter wheat futures at the Chicago Board of Trade are presently in a choppy, two-month-old uptrend on the daily bar chart. However, stiff technical resistance lies overhead, at the November high of $6.04 3/4 a bushel. A close above that key technical resistance level would provide the wheat market bulls with fresh […]

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Commodity Trading School Market Summary

Commodity TRADING SCHOOL SUMMARY OF UPCOMING DATA 12/02/09 8:15 AM ADP EMPLOYMENT REPORT 10:30 AM EIA INVENTORY REPORT 2:00 PM BEIGE BOOK     DATA RESULTS 12/01/09 ISM MFG INDX (53.6 vs.55.0) US CONSTR SPEND (0.0 -0.4%) PENDING HOME SALES INDEX (114.0 vs. 109.5)     US DEBT REVIEW AND OUTLOOK   US TREASURIES retreated […]

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Gold sets the Tone

Crude looks poised to move higher but before committing capital we’d like to see the inventory report tomorrow. We feel that without any bearish developments the recent test of $75 could prove to be support. We’re tracking bull call spreads in addition to selling puts and buying calls. In the last 9 trading sessions natural […]

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