Jobs are being added and unemployment is dropping according to today’s NFP but is it too little too late? The picture economically is bleak and I do not see a quick fix. Oil is getting support from the Iran situation but with economies faltering globally we should not expect this appreciation to continue. Well at least [...]
Investor appetite for risk has increased as money is flowing back into securities and commodities. Crude has advanced $7.50 off its lows from Tuesday so clearly there is buying interest but we would like to see the ascent slow or even a re-test of the 9 day MA to feel confident a further move is [...]
A curve ball with NFP today…unemployment reaching a reported 9.2% and adding 20% of the anticipated jobs last month whipsaws markets today. Crude gave back the previous two days gains down 2.4% as of this post. We did not see this type of move to end the week but we still finished higher now for [...]
A lower high and lower low today should signal more downside in Crude oil is to come. We’ve completed a 38.2% Fibonacci retracement; a 50% would drag February to $86.60, a 61.8% to $85.40. We would still like to see more downside and perhaps a consolidation before advising clients to purchase natural gas again; that level [...]
The Fed spoke and the markets have listened. Buy withboth hands…stocks, Treasuries and commodities should trade higher till’ the end of the year. This does not mean buy and fall asleep at the wheel but we will be issuing more buy then sell recommendations moving forward. Crude oil has broken out and should make its way to [...]
The move by the Ag minister in Russia overnight kept things interesting in commodities today. Aggressive traders could look at shorts in Crude oil as long as prices remain below $83 in the September contract. Some clients started to price out October and November put options today…stay tuned. We are anticipating a trade back to [...]
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. [...]
I may need to start issuing a commentary twice daily as market volatility persists. What appears bullish in the AM is bearish by the PM. The bright spot in energies today was natural gas trading near $5 for the first time in three months. Clients took off all remaining longs at a profit and will [...]
A number of markets are at a crossroad and the decision made in the next few sessions should determine the direction of the next leg. These markets include the S&P, metals, energies, and the dollar. Crude penetrated the 20 day MA but failed to close above that level; in July at $74.60. We would expect [...]
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 $ [...]
