Apparently when traders came back from lunch they found something the liked reversing indices and taking prices higher. The key will be if we have a solid close and follow thru in the coming sessions. Higher high and higher low with Crude finishing just over 1% higher in today’s session. As we’ve said in recent [...]
What excuse will be given for a disappointing number tomorrow? Heading into a long weekend tomorrow’s jobs number will likely have a greater impact than normal. Crude oil has fulfilled our short term targets having dropped 8% in the last four sessions. We are not advocating longs yet but would suggest those short to trail stops down. [...]
Two sided trade in Crude as prices look to finish up 0.50% today. We have advised clients to exit their longs and expect a $3-5 correction into next week. Ideally we would be a buyer when August was below $75/barrel. We should have some trade ideas next week on September and October contracts. We’re sticking [...]
Not just a canceled television show but an accurate description of most major asset classes. This volatility will persist at least into next week so be careful there is no reason to be a hero. In just over one week oil has given back gains from the last three months. There will be a time [...]
As of this post oil is lower by 4% and it does not look like the selling has abated as of yet. Assuming this is not just a one day event we may have put in an interim top yesterday. Looking at a daily candlestick chart notice the doji formation on heavy volumes. Support is seen [...]
Another FOMC meeting has passed with no change in rates or verbiage. The lack of inflation comments are comical as gold will most likely flirt with $1200/ounce and oil is approaching $90/barrel. As a trader one cannot fight the Fed but they are just kicking the can down the road in my opinion by keeping [...]
Please click spreadsheet to view Energies Crude traded to its highest level since mid-January back near $82/barrel. We’ve been expecting a correction back to $75/76 and are still positioning our clients thinking that is the likely scenario. We’ve opted not to use futures again until there is evidence of an interim top so until then [...]
Please click the spreadsheet to view Energies Oil has traded higher 4 out of the past 5 sessions ending last Friday just below the 200 day moving average on the April contract, which comes in at $75.10. Unless we get a close above the down sloping trend line this week and demand appears to come [...]
I have been accused of being a day trader and I’m curious to see what others think. My logic is if I can take profits quickly for clients and be in cash more often is that a bad thing? Leverage is a double edge sword but if one can navigate the markets and use small incremental moves [...]
5 consecutive lower days in Crude oil; on a breach of $72 in January a trade down to the September lows could be in the cards. Look for a higher trade in the dollar for guidance. We would advise booking profits in both futures and options on all remaining natural gas. Ideally traders took advantage of the [...]
