As a swing trader I’ve been whipped around of late as markets slog back and forth. What I’ve been forced to do is trade against core positions. By this I mean if you want to be long corn for example (our client’s biggest position) some times you may have to trade options or futures of […]
Tag Archives | MB Wealth
Dollar could be a Game Changer
Huge build in Crude inventories and still oil held it’s own with May probing $80/barrel but it appears we will close above that level. Our negative bias still exists but what will it take to see a trade to $77/78 is beyond me. Natural gas looks to be building a solid base just above $4. […]
How “Healthy” is this Bill?
The Health care bill passed its first test. Give it a few days to digest but this bill will not just go away and could have some major implications. The bears (me included) got run over in Crude oil today. Around 9AM est. this morning it appeared oil was on the verge of breaking down […]
Market Hangover
Too many shots, too many pints, too much corn beef and cabbage…markets did a whole lot of nothing today. $83-83.50 is still acting as stiff resistance on the May Crude futures; use that as resistance and $79.50 followed by $77.50 as support. Though there is far more profit potential being short or long futures in […]
The Fed is Delusional
You cannot have your cake and eat it too! Either circumstances in the economy are getting better and we need to start looking for an exit door or we are still in for a sh-t storm and then no action is necessary! If the Fed sees the economy improving than why leave IR at an […]
Ides of March
Downward momentum is gaining as Crude has lost 2.9% in the last 2 sessions. We are expecting this move to drag prices in May to $76/77. As we voiced in our commentary this morning exit ALL longs in distillates until this correction runs its course which should pressure heating oil and RBOB 15-20 cents. Natural […]
Spring Break
This does not feel like Spring Break to me as I need to be glued to the screens. The good news being I live in Ft Lauderdale it may feel like Spring Break at the beaches this weekend. A small victory today as we had a bearish engulfing candle in oil. As of this post […]
Where from here?
Markets seem to waiting for some type of catalyst to determine the direction of the next leg. Inside day in Crude oil as prices hover around $82/barrel. For new entries we still like the idea of $5 put spreads but we would start looking at the June as opposed to May contract. If currently in […]
March Madness
This phrase is coined for the college basketball tournament but I think it is an accurate description of what to expect as a trader this month. At its highs today oil was less than $3/barrel from making new highs on the year. Being bearish for the last 1-2 weeks has made our clients NO $ […]
Are the $ Correlations Back?
The dollar cut thru the 20 day moving average like a hot knife thru butter and in just 2 days erased the previous 2 weeks of gains. The dollar is in control of the destiny of commodities in the short run. As we’ve voiced in recent posts we expect sideways to down in the dollar […]