Archive | October, 2012

Metals building a base

Energy: Crude oil backed off unable to hold onto its gains but I’m seeing signs of the tide shifting with a positive close 4 out of the last 5 sessions. Exit remaining bearish trade and book profits. I expect to have bullish trade recs in the coming sessions…stay tuned. RBOB closed positive but nearly 7 […]

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Natural Gas Futures Deflated

Energy: Inside day in Crude oil…maybe I’m too cautious and leaving a few bucks on the table but I advised traders to either close out or lighten up on their bearish trades today. I am not prepared to be a buyer yet but I do not wish to be short with any size…trade accordingly. RBOB […]

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Frankenstorm Futures Market

Energy: Crude oil closed lower by 0.86% and though $85 has supported in recent sessions I’m still expecting a probe lower in the coming sessions. A settlement under $85 should get us a trade under $83/barrel where I would likely be looking to reverse from short to long for clients. $87/barrel in December will need […]

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The Dow held its pivot point

Energy: $85 supported in Crude oil the last 3 sessions but I view this as a pause before more selling ensues. I’ll remain bullish as long as December is below $87/barrel. RBOB is nearly 10 cents off its intra-week lows with two consecutive closes back over the 100 day MA. Those that road bearish positions […]

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Choppy sideways energy market

Energy: Crude oil gained for the first time in 5 sessions closing just above $86/barrel in December. Upside should be contained around $87 on this contract. I am still searching for slightly lower trade however if prices do no trade under $85 by this time next week I will likely move to the sidelines. There […]

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Stock Market Plunge

Energy: Crude oil has competed a 61.8% Fibonacci retracement losing almost 2.5% today trading under $86/barrel for the first time since mid July. I advised clients to book profits on their bearish trades and I will be looking to re-establish shorts in further out contracts in the coming sessions. I think we could see an […]

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Natural gas lost 4.54%

Energy: Crude oil lost nearly 2% with December fast approaching $88/barrel. Depending on outside markets we could see a trade under $86 as that is where I see the next major support. I would likely be offsetting bearish plays if that happens this week…stay tuned. In the last 2 weeks RBOB has traded lower every […]

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Stocks lower cause Treasuries to bid higher

Energy: Any upside was rejected in Crude oil with price closing near their lows down 2.25% as of this post. Prices are below their 100 day MA which should confirm more selling. My target in December remains $87/88 in this contract. The 8 day MA capped buying today in RBOB with prices off 1.87% trading […]

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Google searches for plunge

Energy: Sloppy action in Crude oil today with prices finishing pretty much in line with where they started the session. For the last 7 sessions prices have been in a sideways trading range and today was no different. I see resistance just above $93 and am still looking for a breakdown in the coming weeks. […]

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Gold is Ebbing

Energy: Crude oil was able to close in the green after being down nearly $2 in early dealings. We will need to see a settlement under to 100 day MA in December, currently just under $91 to confirm bearish sentiment. On a trade back near $88.50 on this contract I will be looking to unload […]

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