As go Energies so goes Commodities 2/19/9
We are friendly to April natural gas, April crude and June RBOB. Look at 15-20 cent call spreads in RBOB, $4.50 and $5 calls in April natural gas in addition to futures with stops below$4, for crude as long as today’s low in April at $37.12 holds we like being long. March goes off the board tomorrow so expect craziness. We feel the Loonie is a buy….we have clients long the only thing we do not like is the talking heads on CNBC are on the same page. Expecting move to 82 on a move higher in crude oil. We advised clients to get long futures in May corn with stops below yestedays low in addition to buying the $4 calls for 11 cents or $550. Took some of our bean spreads off today at 40 cents ; $1000 profit and advised clients to lift the remainder at 30 cents May over November. Working order to get out of $900/$1000 June gold spreads at $5300-5700 per. Consider it a $175 lottery ticket, actually a client idea that we followed with other clients; buy the $13 March silver puts that expire next Tuesday. Short EDH10′ in addition to NOB spread; short USh9/long TYh9. Pay close attention to see if the recernt lows hold for April and June hogs on a closing basis; we are advising long futures and options. Indecision in the US dollar index, pay close attention.
Tags: bonds, calls, CNBC, commodity, crude oil, euro-dollar, futures, gold, Loonie, lottery ticket, natural gas, nob spread, notes, options, puts, RBOB, risk, silver, us dollar
