Crude traded to its highest level since mid-January and appears poised to re-visit $85/barrel very soon. We have no long or short exposure with clients currently. Natural gas traded above the 9 day MA for only the second time this month but as of this post is back near its lows well below $4. It may [...]
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 [...]
Wild swings and crazy volatility is becoming commonplace commodity wide. These markets are choppy and trend less so one must really monitor their positions on an intra-day basis. Crude oil will finish higher on the day but it remains a sell on rallies market near $80 in my estimation. We maintain that a move to [...]
Crude was down just over 1% today closing almost $2 off its highs. We continue to suggest selling near $80/barrel expecting a trade near $75 in the coming weeks. We suggest on futures to have stops above $81, in options clients own May $75/70 put spreads. Natural gas was lower by almost 3% and though [...]
For the last trading day to be on the 26th of the month just doesn’t seem right. Needless to say based on the market action today there seemed to be some month end window dressing, It will be interesting how we start the month of March next Monday. Oil remained range bound ending the week near the [...]
It is not always how the report comes out but how the market reacts. Being oil has had trouble getting above $80 on a closing basis in recent sessions and charts are oversold we decided to get some short exposure for clients today. Intra-day prices were below both the 40 and 50 day moving averages [...]
These markets seem to change minute to minute…hour to hour…day to day. The 40 day moving average that we quoted yesterday was re-visited today and held in oil. Being that we did not make a new high we are still operating under the impression that prices need to move lower before we get any substantial [...]
Having a trading plan and ignoring the wild swings is vital in this environment. A doji star on the daily candlestick chart tells me that we may have hit an interim top yesterday. The low today in the April contract was within 6 cents of the 40 day moving; for now that level supports. We [...]
A $2.50 range in oil today lifted prices back above $79/barrel. If you saw out interview on www.thestreet.com we thought a move back over $80/81 was likely if we got a close over the 40 day MA which happened today. We suggest staying long April futures as long as today’s lows hold and we will be [...]
Crude was higher again today trading back up to the 18 day MA but failed to get back above the down sloping trend line. What was disturbing today was how little the premiums moved in options. Talking to the floor there seems to be a ton of option selling in recent sessions. If prices can trade [...]
