Short covering, month end, dollar rally call it whatever you want. Here is the scorecard: short Crude oil, short the S&P, Short Euro-currency, Long the Yen, short silver, long Treasuries (NOB spread). We advised using todays’s retracement in corn to buy o get positioned in a portion of the corn you want to own into [...]
September oil appears to be having trouble getting through the $72.50 level. The immediate direction will be determined by tomorrows jobs # and how the dollar reacts. Natural gas was hit hard today, this was ideal for fresh entries to get positioned and we took advantage of this with clients who were waiting for a pullback. [...]
Maybe this should be the government program as opposed to “Cash for Clunkers.” A potential flag and pennant formation is in the works on the daily natural gas chart. You know our stance by now, we are bullish and have clients positioned in October & November call spreads. US dollar down all int’l currencies were [...]
A prospective client asked me a question today and it made me realize how important discipine.is in trading. I don’t have enough room in my blog but the short version is plan your trade and trade your plan. Have pre-set stop limits and have a target, take what the market will give you. Now for some [...]
Natural gas finally showing some of life up 7% today and positive 4 of the last 5 sessions. Those of you who stuck with this trade albeit trying may reap the benefits in coming weeks to months. We expected the reversal to be ferocious and the market has not dissapointed. At this point we would [...]
2 Central banks have spoken, still BOE and ECB meet on Thursday. We are long the Loonie via a futures and options combination and long the June yen via 4 cent call spreads. 89.74 is the contract high in dollar index; current prcie 89.05. Oil continues to carve out a bottom as does natural gas. [...]
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 [...]
The BOE cut rates as expected and predicted in our commenrtary. They like most Central banks shouldlikely continue to tighten rates. We will see next week with the ECB. Still looking for a pullback in gold and silver but we reluctantly bought $13/15 March call spreads expecting a jump on the NFP tomorrow, paid $1250 [...]
OPEC meeting this week. Monthly jobs number out a week from today, it should be ugly but could be factored in. ECB and BOE most likely will cut rates 50-75 basis points next Thursday, expect volatility in the currency market next week. The dollar will be key; a mixed week but down on the week [...]
