I hate to date myself here but as a young man I was very fond of the video game duck hunt- a “classic” shooting game for the first version of Nintendo. Just as those birds fell from the sky I think the Loonie short term is headed south. Most followers are aware I have been […]
Since bottoming on 6/28 at $1179.40 August gold futures have advanced 12.5% approximately $150/ounce. As of this post a decisive move through $1300 higher by 2.88% today. One can see on the chart below the horizontal line just below $1300 that had served as resistance now shall serve as support. In three short weeks future […]
The forex market has been rocked this month. The cause? The U.S. dollar fell aggressively against major currencies. The markets aren’t expected to give the U.S. a “pass” on this either. As economic data pours in from the world’s central banks, and from the U.S.’s own Federal Reserve, expect the market to remain volatile. The […]
Energy: Crude oil finished higher for the fourth consecutive week trading within pennies of the $109/barrel level. It looks like an overstretched rubber band in my eyes that should snap back very soon. Those willing to accept a little risk are advised to buy September $100 put options…currently near $500 per. It is apparent I […]
A very interesting last 30 days…let’s look at the weekly and daily charts on the Almighty Buck. Let me get this straight the greenback rallied on speculation that a rate hike may happen sooner rather than later; higher rates should equate to a stronger dollar. Yesterday Bernanke set the market straight verbalizing that not so […]
A broken clock is correct twice a day…and just sometimes when we look for a bounce or retracement the market delivers. In the last two sessions the Ags have jumped and as of this post corn has climbed 5.7% in the last 2 sessions, soybeans is 4.2% off its lows and wheat (my current pick) […]
If you go back in time and read comments from 2-3 weeks ago I had called for deprecation in the dollar and the market delivered. I only bring this up because the move happened a lot quicker than I anticipated…from the high made 5/23 June futures are lower by 3.3% in just over 2 weeks. […]
Energy: All yesterday’s gains were given back in Crude oil today with losses of 1.75% putting prices under $92/barrel. The 50 day MA has capped upside the last two sessions and until July gets above $94 expect sideways to down action. Above $94 I am a lot friendlier. I continue to trade my bias on […]
Let’s look at the US Dollar over the last 3.5 years. With the exception of June 2010, when the dollar traded as high as 88.80, the 84/84.50 level has served as stiff resistance. It appears a triple top pattern is being established on the weekly chart over the last three weeks. The horizontal red line […]
Let’s check the scorecard. I penned a report on 3/27, just two months ago, titled “Interest Rates – A Ticking time bomb.” In this, I made the bold claim that a bearish play on the Eurodollar has the potential to be the biggest trade of my career. This is not a quick “in and out” […]
