We wanted confirmation before taking a stance in crude and with prices convincingly higher today we are thinking the recent shake out may be all the bears get. Today’s move carried prices back above the 200 day moving average and at the highs we traded to the 40 day moving average. As long as April [...]
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 [...]
We would not suggest being long oil as prices came off even with equities moving to new highs. For now it appears there has been some disconnect. Natural gas was lower today for the second session in a row. We will continue to accumulate $1 call spreads for clients in November. We advised clients to [...]
What does that mean? The US dollar should rally as well as the yen…what does that mean? We advised clients to get long the yen today, bought September 110 calls. At 107 in the futures should be worth $1100/ per, at 108 $1400/ per. Bullish engulfing candle in the dollar today and the yen probed [...]
We advised clients to buy natural gas today that did not yesterday; sell 1 August $3.25 put & buy 8 September $8.00 calls..todays fill $200 credit. OPEC meeting 5/28 Energy looks strong! We feel starting to buy here is too agressive, wait for a setback. The US dollar looks like it may rally as we [...]
Oil expiration today on February and the spread came in from -6.50 to -2.00 last few sessions. Oil is now above $40 again with March taking the lead tomorrow. Natural gas still searching for a bottom; keep on radar. Gold and silver appear to be moving higher so get some long exposure. These metals have [...]
Can you say limit down? Corn, soybeans and CBOT wheat were limit down today. The correction we were looking for before the report happened after the report issued at 8:30 AM this morning. Classic case of buy the rumor sell the fact. We own March bean puts and will be taking them off the next [...]
