Fed Minutes out / Quantitative easing Anyone? 4/8/9
” There is volatility to trade but not to invest.” CNBC 3:10 PM Est. Take what the market will give you, you must be nimble to trade todays market. Pisani suuggested commodities and I could not agree more, perpare for reflation. Oil near $4 trading range tread lightly. Daily natural gas charts are extremely oversold but is that enough? Copper was overbought for over 12 months. No real direction in currencies, we still like the long side of the Loonie. BoE meeting tomorrow morning, expect rates steady at 0.50%. Gold and silver should make a decision on direction tomorrow before the long weekend. We have a bullish bias and remain cautiously optimistic. USDA report out tomorrow. All softs were higher with the exception of cocoa. We like sugar and coffee. Put in profit orders at 690 points on the July 120/140 call spreads in coffee, paid 440. OJ was higher by nearly 5%, I found no news, could be bargain hunting. We continue to advise clients to accumulate long exposure in June lean hogs.
Tags: calls, coffee, commodity, copper, crude oil, Fed minutes, futures, gold, matthew bradbard, MB Wealth, natural gas, oj, options, puts, silver, sugar, trading, volatility
