Archive | March, 2011

Sideways Trade

What will be the next catalyst to get markets moving in either direction? Crude finished marginally lower today…it had been several weeks last we saw two consecutive negative closes. We smell a $5 correction and aggressive traders can gain bearish exposure willing to let go at a loss on a trade above $107 in May. […]

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Copper Bulls Fade; Other Markets Taking Note

May copper futures prices have backed well down from the February contract and all-time high of $4.6575 a pound. Prices Tuesday hit a fresh two-week low of $4.2540 and are poised to push below strong technical support at the February low of $4.2435. Recent price action in the copper futures market has seen a nine-month-old […]

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March to a different beat

One week down in March and commodities appear to be marching to a different beat. Crude oil will end near its session high and at a fresh 2011 high. Bulls are in control but be cautious as $3-5 swings are becoming common place. We’ve seen a $15 appreciation in the last two weeks with virtually […]

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Profit taking ahead of non-farm

The Treasury rally backed off on Wednesday ahead of the government’s latest read on the employment picture. Earlier in the week ADP predicted the non-farm payrolls to see a considerable increase and analysts estimates are looking for about 190,000 jobs added. Even a number slightly below expectations would be considered a victory and makes it […]

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Gold, Silver Market Bulls Flex their Muscles

Comex gold futures prices Wednesday morning scored a fresh all-time record high of $1,438.20 an ounce, basis the April contract, as of this writing. Meantime, Comex silver futures notched another fresh 31-year high of $34.89 an ounce, basis May futures. The precious metals bulls are benefiting from safe-haven investment demand, inflation fears and a weakening […]

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