Archive | economics

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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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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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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Uncle Ben Bets

Energy: November Crude traded above $100 barrel but settled below that level. Lightening up on longs is suggested but I’m willing to hold onto positions under water into next week to see if prices roll over. If prices reach higher levels I will be advising clients to take their losses. RBOB recouped the previous 2 […]

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The trend is your friend

Energy: November Crude oil closed slightly lower. On its high it touched the 61.8% Fibonacci level and on its lows it touched its 8 day MA. I continue to position clients with a bearish bias expecting a trade closer to $90 in the coming weeks. RBOB failed to hold onto its gain reversing midsession to […]

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Planetary Alignment in Futures Market

Energy: Crude oil probed the 8 day 8 MA on the downside but did pare losses to close just under the 100 day MA virtually unchanged in today’s session. I’m in the camp that prices are due for a $5-8 retracement. I advised aggressive clients to gain bearish exposure with either futures or options to […]

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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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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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To the Rescue

Energy: Today marks the third consecutive positive session in Crude oil as prices are currently $4 off lows from earlier this week. My take is an interim low is in place and we grind back to $90/91 in the coming weeks…trade accordingly. RBOB is nearly 4% off its lows from Monday and with a trade […]

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Stimulus to Follow

Energy: What an ugly week with Crude losing 8% dragging prices to 9 month lows. When $90 broke I thought it was possible to see $83 I just did not expect it a few days later. It’s not that I am upset about losing on a small long position I have for clients I’m more […]

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