It is too early to say but initial market action indicates some change in trends. Stocks and Crude lower, bonds higher and metals could be breaking out of their recent sideways congestion..time will tell. After approaching $95 overnight Crude has backed off…as of this post prices are in the middle of today’s range. Aggressive clients [...]
Australia elected its first female prime minister. Let’s see if a woman can get things back in order. Perhaps other global leaders could learn a thing or two. Looking at the daily chart in August Crude we may get a bounce from here as the trend line that has been in place since mid-May held today. [...]
For the time being indices are in the driver’s seat and as long as stocks are moving higher RISK is on. A falling dollar should also lend support. Oil made a higher high and higher low today but as we posted in our weekly commentary we need to see a settlement above $76 in July [...]
Based on the late action we should see indices lead us higher next week. After an 8% rally in the previous four sessions Crude gave back some of its gain today closing down just over $1. The 9 day MA did hold and as long as that level supports we think higher ground ahead. That [...]
Crude is back above $75 for the first time in 3 1/2 weeks advancing for the fourth consecutive session. On the highs prices got within 30 cents of our first target; again$76.60 and then $79 are our objectives. It is entirely possible we run into resistance just above today’s highs so if you have sizable positions [...]
There is a full docket of events across the globe from three central bank meetings (RBNZ, ECB and BOE) to an employment report from down under and a USDA report so do not try to be a hero as fireworks could fly. Crude and the distillates got some help from outside markets and a friendly [...]
To me virtually everything is trading of the indices so look to the equity market for guidance and positioning. Crude was higher but I’m not convinced the damage is done just yet. If the 9 day crosses the 20 day which would mean prices would be $1 higher in futures I will likely get clients [...]
If a gun was held to my head and I had to pick a direction I would rather be short oil than long. We see resistance in September between $72/72.50, on a pullback we see support at $66. We will continue to accumulate $1 call spreads for clients in November natural gas. Could the potential [...]
We would not suggest being long oil as prices came off even with equities moving to new highs. For now it appears there has been some disconnect. Natural gas was lower today for the second session in a row. We will continue to accumulate $1 call spreads for clients in November. We advised clients to [...]
As of this writing the Aussie has taken off like a possessed kangaroo up virtually 4% today back above .6500 in March.We are fighting back with March longs in options and futures. Additionally in currencies we like the Loonie to the upside. We are pricing out 3 cent call spreads on the March yen but [...]
