Increased conflict in the Middle East puts the bulls back in control in Crude. If the situation is resolved energies should falter but if the plot thickens expect more “fear” to be priced in. Expect wild swings if willing to trade in this complex. If $97 holds on a closing basis in May aggressive traders [...]
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 [...]
Day 1 of FOMC , decision day tomorrow at 2:15pm Est. Although we expect no change in rates we will be interested in their rhetoric. The correction in crude did not last that long, we advised clients to book a profit yesterday but we did expect further downside but that cannot happen with a weaker [...]
We are friendly to April natural gas, April crude and June RBOB. Look at 15-20 cent call spreads in RBOB, $4.50 and $5 calls in April natural gas in addition to futures with stops below$4, for crude as long as today’s low in April at $37.12 holds we like being long. March goes off the [...]
When any market moves higher on bearish news or lower on bullish news it should be noted. Whether it is talk of additional cuts or new money coming back into the market $40 on March now serves as the floor. As we have said in recent weeks oil needs to be on your radar, we [...]
Crude was up 4% on the day, up 5 of the last 6 sessions, gaining $13. Are the lows in? Time will tell, we are looking for a test of $51/52 very soon. Fairly impressive today considering the action in the dollar. The US dollar broke above the 100 day moving average and should be [...]
Stocks down japanese yen up. Will we forge to new lows in the indicies? 1.0620 key Fibonacci # for December yen. The flight to quality is on in treasuries as 10-yr and 30-yr make new highs. We are continuing to build postions in siz9 and sbk9 for clients. Contact us for specific details.
