Archive | August, 2012

Stocks climb their wall of worry

Energy: The 100 day MA capped upside once again in Crude oil futures with prices closing under $94/barrel in September. My stance is exit all longs as I anticipate lower trade in the weeks to come. My target on this contract is a trade back to the 50 day MA approximately $7.25 from current prices. […]

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Futures Market Movers

Energy: Crude oil traded up to the 100 day MA as forecast and is close to a 50% Fib retracement, that level comes in just above $94 in September. I’m staying with my bullish theme thinking we could see an additional 2-3%. My stance would be to lighten up on longs on a further advance […]

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Bearish on Bonds

Energy: Crude oil started the week in the green lifting price over $92/barrel. Support is still seen at the 8 day MA just under $90 while upside is eyed at $94.50 in September. Inside day in RBOB with prices failing to gain for the first time in five sessions. Support is seen at the 61.8% […]

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Big Moves…now What?

Energy: Crude gained nearly 5% to close back above $91/barrel. I counted my chickens before the eggs hatched as the 38.2% Fib level held the last two weeks. Strong support is seen just above $87 in September. Upside is seen at the 100 day MA at $94.55. In the last 3 days RBOB has gained […]

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Where’s the Fed?

Energy: The 38.2% Fib level held the last two days in Crude oil as prices ended 1% higher today. If that support level holds expect choppy action moving forward I cannot imagine much traction in this environment. What looked like stiff resistance in RBOB was penetrated today with the 2.15% appreciation lifting prices above the […]

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