Based on the market action investors are piling back in with commodities and indices fighting for leadership. This may not be the bottom of either but certainly a tradable rally. Energies higher across the board by 3-4%. Clients are long oil, RBOB, heating oil and we will be looking to buy natural gas once again [...]
Oil gained virtually 4% today and is $4 off its lows yesterday. As soon as we get thru the 9 day MA we expect to see more buying; that level is just above today’s high. From here we see a grind higher to $76/barrel. That being said we expect heating oil and RBOB to trade [...]
In the last three sessions Crude has come down $7 in June futures. Prices have retraced over 50% from their February low and April high but we do not think sellers are done. At this moment we are expecting $76-78. Clients are neither long nor short at the moment. The near 10% correction in the [...]
Does moral hazard even exist anymore? The list goes on auto-companies, banks, insurance companies and now countries. Crude closed lower today for the fourth consecutive day and below the 9 day MA for the first time in 10 sessions. We are operating under the assumption that prices will make an attempt at the 20 day [...]
This month has been one of the toughest in recent history to trade. Keep the faith. Considering the circumstances with Korea today and that oil did not rally we are convinced prices are moving to lower ground. As of this post prices are below $80 making a lower low today. A s long as prices [...]
Huge build in Crude inventories and still oil held it’s own with May probing $80/barrel but it appears we will close above that level. Our negative bias still exists but what will it take to see a trade to $77/78 is beyond me. Natural gas looks to be building a solid base just above $4. The [...]
We may have hit a pivotal turning point in a number of markets today. We will need to see confirmation of reversals early next week…stay tuned. Crude will finish the last trading day of the week 2% lower but will manage to hold onto the $80 level. April will go off the board next week [...]
We have a number of shorts on commodities thinking a setback is due. A failed rally…say it is not so! Crude looks to close higher on the day but below $82 and $1 off its high. We remain convinced a 5-7% correction is right around the corner. Forget the fundamentals and technicals; throw it all out [...]
1 year ago today equity markets bottomed and a vicious rally ensued but are we any better off than we were at that time? The lack of new buying above $80 hints of a correction to come. Yesterday we made a new high and failed and today we saw a lower high and lower low [...]
This phrase is coined for the college basketball tournament but I think it is an accurate description of what to expect as a trader this month. At its highs today oil was less than $3/barrel from making new highs on the year. Being bearish for the last 1-2 weeks has made our clients NO $ [...]
