Archive | June, 2011

Trading Independence

June has come and gone …to all a happy Independence day…see you in July. Crude should finish slightly higher but again today prices were unable to take out the 18 day MA; in August at $96.25. On a trade above that level our next target would be the 40 day MA at $98.80. At this […]

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Recognizing Correlations

The dollar and Treasuries breaking down and commodities and equities advancing…is this correlation back? The 9 day MA In August Crude has shifted to support now at $93.50 with resistance at the 18 day MA at $96.50. We remain cautiously bullish with a target in August future of $100/barrel. Crude 2% plus advance was driven […]

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Commodities Catch a Bid

Crude advanced 2.30% as of this post and is on the verge of penetrating the 9 day MA for the first time in nearly three weeks. A settlement above $94 in August should be followed by a trade up to at least $98 in the coming weeks. The fact that the distillates are finding a […]

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Gold Suffers Near-Term Chart Damage

August Comex gold futures prices Monday morning hit a fresh five-week low of $1,491.70 an ounce. The gold market is tentative to start the trading week, as Greece’s parliament is scheduled to vote later this week on fiscal and austerity programs, amid the European Union debt saga that continues to play out and which continues […]

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Summer Doldrums

It does not take much in the way of volume to move markets in thin trade so be careful. Wind was taken from the bulls sales in Crude this week as prices traded down to seven month lows. August Crude is finding buyers at $90/barrel but that level will need to hold or prices could […]

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The Hard Trade

In my career generally the hardest trades have been my most successful. Buying on days like today is not easy but likely the correct move. The EIA’s move of releasing SPR’s will grab headlines in Crude but in our opinion will be a moot point by next week if not sooner. We consume north of […]

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Inflation vs. Deflation

I’m not smart enough to know what is better for the economy inflation or deflation but I do know that things cost more than they used to and I thought that was inflation. Maybe I need to go back to school…isn’t it that easy Ben? Crude oil picked up ground for the third consecutive session […]

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Gold Market in Quiet Uptrend, which is Bullish

Comex gold futures prices are trading modestly higher Tuesday, as higher crude oil prices and a weaker U.S. dollar index are supporting the precious metal. As continues to be the case, crude oil and the dollar index are leading most commodity markets in price direction, including gold. August Comex gold futures bulls have the overall […]

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A Rising Tide

A rising tide lifts all boats! As stocks increase and metal bulls get back in the driver’s ‘s seat look for commodity appreciation. Crude manages a slightly higher close but the real story is the prices should settle $2 off their intra-day lows as trades below $92/barrel were rejected in August. If the distillates did […]

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Gold Remains Volatile but Resilient

This week the gold market traded a $31.60 range as the economic climate of the globe continues to fuel the resiliency of gold as traders and investors alike continue to monitor the fragility of the European Union, Libya and the Middle-east, China, and the Unemployment and housing sector here in the U.S. Obviously the European […]

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