As of this posting crude has reversed from higher to lower; currently a $3 range on the day. 50 day moving average is at $45.30 in April and should act as support, if this level gives way we may see shorts pile in . Expect a $40/50 trading range ahead of OPEC this weekend. Use [...]
April crude should close above the 20 day moving average almost $10 off the lows from 2 weeks ago. We favor the long side advising traders to buy dips in crude, RBOB and natural gas. We remain long natural gas even with a 3.5% decline today. March currencies go off today and we will be [...]
Get long gold and silver! We suggest out until July in silver and June in gold. We have numerous ideas in futures and options depending on the account size and risk tolerance. Although we choose not to trade copper we will follow the movement as to gauge the overall temperature of the economy; “Dr Copper.” [...]
Oil briefly traded at $47 today. We could still test $32 before everything is said and done but if equities rally early next week we could see a move to $50 next week. Natural gas has been lower 13 of the last 14 days. Picking a bottom is dangerous and usually costly but keep this [...]
Sounds like a broken record but the dollar rules the roost. After a 75-100 basis point reduction in rates what ammunition wil the Fed use next? Get familiar over the next couple months with the term “quantitative easing.” The US dollar was 2.25% lower today and has lost 9% in the last 8 days. Many [...]
