Here in the northeast, the weather has been fantastic. We have been enjoying our Indian summer and, as the major indices continue to rally in the fourth-quarter, so too have the markets. We did; however, see a minor retreat on the very positive “Jobs Report” in the Friday session. The reports highlights the expansion of […]
Here we go off into Christmas help hiring season in anticipation of consumers rushing into brick and mortar store to purchase their holiday gifts….News Flash!!!! Many consumers will likely make purchases on-line, trying to find the best bargains without dealing with sales people, crowds or parking problems. That said, we expect to see lighter traffic […]
Clearly the trend has been lower in sugar for the last two years with futures currently trading nearly half the value they were trading at 25 months ago. It does appear that we are consolidating just above the 16 cent level and we may have found an interim bottom. Within the last few weeks futures […]
Since putting in a low on 8/8 at $3.15 October natural gas futures have advanced 11% lifting this contract to the down sloping trend line(blue line) that has served as resistance since mid-May. It was a positive development in recent sessions to trade above both the 8 and 18 day MAs. Above the trend line […]
Energy: Crude oil has gained the last six sessions lifting October futures to their highest close in 13’ as we are fast approaching the 12’ highs. I see little gas in the tank and have advised aggressive clients to establish bearish trade anticipating a trade back to the 50 day MA in the coming weeks, […]
Energy: Today’s chart of the day was on Crude oil…give it a read. If we see follow through into next week it will confirm for the second time that $108 is stiff resistance. I am operating under the influence that is how we play out and this could drag futures under $100/barrel. As of this […]
The $26 level has acted as silver’s support for over two years now. And after a 10% slide over the past three weeks, including today’s 6% drop, we’re once again challenging this all-important line in the sand. Will $26 hold this time? Maybe not… yet I remain a long-term silver bull and see lower prices […]
Crude oil has gained $8/barrel in the last month, putting it just a few dollars shy of $100. My stance: the easy money has already been made in bullish trade. Prices moved quickly from oversold to overbought territory as Stochastics shows in the chart below. I think we’re in the process of establishing an interim […]
Energy: After five positive sessions Crude oil finished in the red today but it was not a one way trade as the trading range was nearly $2. I started advising clients today to work into bearish trade thinking we see prices $3-5 lower in the coming weeks. The heating oil/RBOB spread mentioned in previous weeks […]
Energy: Crude oil did close 1% higher on the day but pared losses closing $1 off its highs. The most significant development in my eyes was a trade above the 100 day MA for the first time in 5 weeks. I have no exposure with clients but forced into the market I favor bullish exposure […]
