Archive | November, 2012

Target in January futures

Energy: Crude oil showed some resilience today closing back over its short term MAs gaining 0.75% as of this post. This should tell market participants that oil is much more than just the Middle East as a cease fire was announced and still Crude held its own. I still maintain a solid base has formed […]

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Crude moves as forecast

Energy: Crude oil finished higher for the second week in row…a feat not reached since the beginning of September. Prices closed out the week near their highs just about on the down sloping trend line mentioned in recent posts. I am calling for appreciation in the weeks to come targeting $90-92/barrel in the January contact. […]

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Due for a bounce

Energy: At its highs Crude oil touched the down sloping trend line but prices failed closing lower by 1.14%. For 3 weeks now a base has been forming and from here I’m looking for 4-6% appreciation. RBOB finished slightly lower but did close above its 100 day MA. My upside target is about a dime […]

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Interim top in the greenback

Energy: A higher high and higher low and a settlement above the 8 and 18 day MA in Crude. That coupled with outside market influences leads me to believe prices could trade higher. I like scaling into bullish plays targeting a trade over $90 in the coming weeks. For further confirmation a settlement above the […]

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Doji star in soybeans

Energy: Crude oil closed marginally lower still unable to retake its 8 day MA today. I still like scaling into bullish plays as I view these levels too low and unsustainable. My target in January futures remains $90/barrel in the coming weeks. RBOB was also a slight loser closing at its 8 day MA but […]

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Silver to book profits

Energy: January Crude oil has found buying support just above $84/barrel. A close back over the 8 and 20 day MAs should confirm an interim low. I am operating under the influence that we get a bounce from current levels and have advised clients to lightly scale into long futures and options plays targeting a […]

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Setbacks are buying opportunities

Energy: After the near 5% slide Wednesday in Crude oil the fact that bears could not follow through Thursday leads me to believe that we will not see much more downside. That being said I did advise some clients that previously did not have exposure to scale into longs in January futures. I see prices […]

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Overreaction to the election results

Energy: Crude oil ran into the same resistance level that capped upside yesterday and then the bears gained control and took oil lower by almost 5%. Selling dried up in the afternoon but one would expect more follow through selling. The closer pries get to $80 in the December contact the more aggressive I would […]

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Bullish action in the Dow today

Energy: I expected a bounce in Crude oil to the trend line…see yesterday’s post. The market delivered the next day gaining nearly 3.25% today. I think we get more upside as I’ve advised clients to scale into longs. My favored play today was long futures in February while simultaneously selling out of the money calls […]

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Wild card Presidential election

Energy: Lower trade was rejected in Crude oil as prices were able to retake the $85/barrel level in December futures. As solid base seems to be forming as I see limited downside in the immediate future. I am searching for a catalyst to get client bullish exposure into winter but have refrained to date…stay tuned. […]

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