Crude was down 5% today which hurts being we’ve let a wining trade become a loser for clients. They are out of all their futures with no damage done but still hold May $7 call spreads. Relatively speaking we are only back to levels from 4 days ago but the path we took here is [...]
Disappointing inventory news and oil still held up well only down 25 cents on the day. Use $76 as support in the March contract; our objectives on the upside are $78.25 & then $79.60-$80. Depending on how tight your stops were on natural gas you may have been stopped at a profit; prices traded 1-2 [...]
Crude was higher by 1.6% today carrying prices back to previous resistance just above $83/barrel. If we get through this level we are wrong and we will not get a correction as predicted. We stand our ground thinking a $3-5 sell off is just around the corner. Let’s assume today serves as the high a move back [...]
As stated in previous commentaries at these levels Crude oil we prefer the sidelines with clients prepared to buy a $3-5 set back. The 18 day moving average held in February natural gas but when it gives way which we do expect more sellers should appear, we anticipate an additional 30-50 cent correction in the [...]
Well it looks like we only loss 190,000 jobs last month but the unemployment rate ticked above10% to its highest level since April of 1983. What recovery I don’t see a recovery; because prices of stock and commodities have moved up we’re NOT back on track. As for the markets with more people out of work I [...]
September oil appears to be having trouble getting through the $72.50 level. The immediate direction will be determined by tomorrows jobs # and how the dollar reacts. Natural gas was hit hard today, this was ideal for fresh entries to get positioned and we took advantage of this with clients who were waiting for a pullback. [...]
A prospective client asked me a question today and it made me realize how important discipine.is in trading. I don’t have enough room in my blog but the short version is plan your trade and trade your plan. Have pre-set stop limits and have a target, take what the market will give you. Now for some [...]
Crude needs a close over $52 to convince me it is moving higher, until then stand aside on new entries. Natural gas made a new low but clawed back closing 12 cents off lows. We feel a rally is imminent, but have been wrong to date. We advised clients to move from May & June [...]
I apologize for the late post have been extremely busy. If you have tried to e-mail or call me and I have not gotten back to you yet call or e-mail me again. We got our price in natural gas today; paying $700 for February $7.25 calls looking for a 50 cent move immediately and [...]
