Getting lucky with Commodities on Friday the 13th 2/13/9
Crude oil up 12% today on the front month, most likely short covering. A move $4 off the lows is impressive;hope you weren’t short. Stay tuned next week we may be advising longs in RBOB, as we said all this week on a close above 1.30 we could see 1.50 very soon thereafter. We continue to like the long side of Natural gas, we will be buying April calls next week; did not get filled on limits today. Additionally we like trading futures with stops below the recent lows. We advised clients to buy back the March $5 calls for a net profit of $700/per and now hold April $5 calls slightly under water expecting a move to $5 plus over the next 2 weeks. Stay long the Loonie. Could be long the Aussie and Kiwi again but we missed a good entry when we were sleeping..ZZZZ. Depending on how the stock market trades early next week we may look to buy the Yen. Buy this break in May corn and beans. Silver closed strong 40 cents off the lows and gold pared losses closing down only $6 after being down $15. Buy the September 98.75 ED puts or get short the March10′ futures. Read the special report issued yesterday.
Tags: commodity, corn, crude oil, euro-dollar, futures, gold, interest rates, Loonie, loss, natural gas, options, profit, RBOB, risk, silver, soybeans, spread, yield curve
