BUY..BUY..BUY 2/24/9
The entire energy complex was higher roughly 3% today. We are advising long futures in April crude as long as prices stay above $37.12 and have been buying May $45/52 spreads at$2000, pricing out June 20 cent calls spreads in RBOB. Remain long the Loonie, Swissie and Euro look strong; may have suggestions in next few days. The yen is a disaster and is down 400 points this week. If long you are wrong, we do have some 110 calls which we will try be sell at a loss on the next rally. Yen should move down as long as stocks move up. To that point we bought March 800 ES calls today and went long the futures; targets 789, 804, 820. Long May corn and July beans with clients looking for higher pricing as long as the recent lows hold. Correction underway in gold and silver with prices down $30 and 65 cents respectively. Be patient this is the correction we have been speaking to as we are expecting an additional $60-100 in gold and $1-2 in silver. Continue to sell rallies in the March 10′ Euro-dollar. Buy July coffee; conatct us for strategy. We are light buyers of April live cattle today expecting a move to 87/89. Lean hogs searching for a bottom, we will make a decision on to cut losses or stay long next few sessions.
Tags: calls, carry trade, coffee, commodity, corn, crude oil, energies, euro, euro-dollar, futures, gold, lean hogs, live cattle, Loonie, natural gas, options, puts, RBOB, silver, soybeans, swissie, yen
