Archive | May, 2012

Sell in May..Gone Away

Energy: Crude oil lost 1.5% today as the slide south continues. Selling seems to be slowing but an interim low is yet to be established. In the front month contract $83 is the next solid support but I’m not convinced prices slide that much. I’m thinking the market has over reacted and we will see […]

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Bears Regaining Control

Energy: Crude trades to 8 month lows breaking $90 with a vengeance losing 3.25% today. I have been advising buying around $90 so any one listening is taking some heat. For now I am holding longs taking on water for clients that are brave enough to hold. Being the trend line that has supported since […]

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Greece – the Cure or Hangover?

Energy: Crude is showing signs of life even with a close only slightly higher we did probe the 8 day MA for the first time in one month. The last time we had a close above that pivot point prices were over $100/barrel. I maintain my buy recommendation on Crude near $90 thinking we get […]

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Buying Underway

Energy: Crude will finish lower for the fourth consecutive week but this market is digging in its heels and finding support at a critical level; $90/barrel in July. That level held for the last three days and as long as it does I like buying Crude right here. First a close over $92 and then […]

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Trudging Along

Energy: Inside day in Crude oil closing higher by 1%back above the critical $90/barrel pivot point. I expect this level to serve as support as prices track higher into next week. Continue to scale into longs anticipating a trade back to $95 in the coming weeks. I will likely advise longs to add to their […]

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Matt is Back

Energy: Crude oil has competed a 61.8% retracement but prices need to maintain this $90/barrel level or things could fall apart…in my opinion. I have been advising clients to scale into longs at these levels but I would only own 1/3 – ½ of the position you want to own until the market proves you […]

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Zuckerberg..NO..Bradbard

Energy: July Crude will finish the week near its lows giving up 1.7% today and 5% on the week. A great week for the bears but I expect next week to be a different story. I’ve advised traders to start scaling into longs in Crude thinking the $90/level will hold. I am not smart enough […]

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Risk is Relative

Energy: The selling is slowing as Crude has reached extremely oversold levels. Aggressive traders should be scaling in on weakness and as I’ve said of late the closer prices get to the $90/barrel the more aggressive a buyer I would be. $90-92.50 is my advised buy window in front month futures. Obviously I would be […]

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Europe…So goes the Market

Energy: Crude oil is down 3.2% this week and almost 13% in the last three weeks but I think we’re close to an inflection point. I am not calling a bottom as I think it possible we trade to $90/barrel but I will be a buyer with both hands for clients if we trade closer […]

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Damage Already Done

Energy: A $2.50 range in Crude today with prices down just shy of 1% …a settlement below $94 is not bullish. Prices need to hold at these levels or I see a trade down to the next support at $90/barrel. RBOB finished slightly lower as well but prices appear to be consolidating just under $3. […]

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