Archive | March, 2010

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ADP shakes Treasuries…a bit

The market is on hold for Friday’s non-farm payrolls numbers despite getting a glimpse of the data with today’s ADP estimates of the government figures. According to ADP, the private sector lost 23,000 jobs last month despite expectations for an increase of 40,000. The news took some of the edge off of the optimism for […]

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Corn Futures Suffer More Chart Damage After USDA Data

May corn futures at the Chicago Board of Trade on Wednesday morning hit a fresh six-month low of $3.44 1/4 a bushel, as of this writing. A bearish USDA quarterly grain stocks report was the bearish fundamental impetus for Wednesday’s selling pressure. Corn futures prices are now poised to produce significantly bearish monthly and quarterly […]

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Defining Moment

The course some major markets chose in the next few sessions could determine where we go the next few months. The path of least resistance now with Crude oil above $82 appears to be up; we would not be surprised to see a challenge of $85 in the days to come. What was the ceiling […]

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Daly Gold Report

Today’s Gold Settles $5.80 Lower… ($1105.70) The Gold market continues to react to the direction of the U.S Dollar as traders begin to take profits in advance of the Good Friday /Easter Holiday as well as the Friday Unemployment Data. The Gold traded lower on sluggish volume as many traders begin to prepare for Holiday […]

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The Curtain on Q1

Yes folks believe it or not Q1 is over this week. Crude is convincingly higher closing above the 9 and 20 day MA for the first time in 8 days. We are abandoning all short strategies as we said we would on a close above $82 in May. That is not to say we are […]

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Another Grind Higher in Stocks

Stocks made their way moderately higher but appear to have lost (at least some of) its momentum. Analysts have questioned the rally from day one, but the market continues to prove dissenters wrong. David A. Rosen berg, the chief economist at strategist for Gluskin Sheff, believes “The market is as overvalued now as it was […]

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2010 Growing Season: Stay or Delay?

The highly anticipated annual planting intentions report is about to be released, and with it, pivotal information regarding some of the hottest commodities traded on the market today. How are the markets going to move as a result of the farmers’ crop trends? How is the current, and more importantly, future U.S. meteorological patterns going […]

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Crude oil still stuck at $80; natural gas falls below $4

Crude oil prices still found stubborn resistance above the $80-a-barrel level amid concerns about demand while natural gas continued its decline, to below $4 per million British thermal units, as burgeoning supply from unconventional sources depressed prices. The natural gas Henry Hub benchmark futures settled Friday at a nearly six-month low of $3.87, down 31% […]

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Dead Cat Bounce in Bonds

The Treasury market enjoyed a mild bid throughout the session as the technical environment seemed to put a temporary floor under pricing. Also, month/quarter/week end buying seems to be helping the cause. All in all it was a relatively uneventful news day. The University of Michigan’s consumer sentiment index was reported to be a little […]

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