Let prices come to you 6/8/9
Buy natural gas on this setback, we expect $3.50 to hold as support. We are advising scaling into August mini-futures and to buy September $4.50/5.50 call spreads. How the US dollar reacts to the 50 day moving average will set the course this week. The correction currency wide should set up some nice long opportunities in coming sessions… recomendations to come. Agriculture is correcting down but July beans were postive on the day? We still expect a break and will be lloking to put in an order in the coming sessions to cover for clients. Euro-dollar down again today…you should own puts or be short futures. Gold and silver are coming back to earth; we advise using this setback to be a buyer. Today we bought December $16/19 call spreads in silver for clients for $3,150. Ideal entries are closer to $915 in gold and below $14 in silver. Coffee was down 3.80 cents today, only a little lower to get long again. Livestock, both hogs and cows will be a buy but not yet.
Tags: agriculture, coffee, commodity, euro-dollar, forex, futures, gold, inflation, lean hogs, live cattle, MB Wealth, natural gas, options, silver, soybeans, us dollar
