I write a daily blog, weekly commentary, run a CTA, run a commodity brokerage, subscribe to a number of newsletters and talk to traders every day and what I advise is that investors do their OWN homework because no one monitors your money better than you! Indecision that is the story with Crude just look at [...]
If you do the necessary research before putting on a trade “let the trade work.” By that I mean with the current volatility it is easy to get shaken out of good trades but if your timing is less than perfect but the risk/reward is favorable stay in the trade. Aggressive traders could buy Crude [...]
The markets resumed trading today after the long holiday weekend but based on the large swings it would appear that not everybody is back from holiday. Crude oils near $3 trading range has traders still deciding on what direction from here. We would still not rule out a test of the May lows about $3 below [...]
Though Crude held the 9 day MA we did not like the price action. Those long could stay long but we suggest trailing stops as a settlement below $77.70 on the August contract signals a break lower. We advised our clients who were long to exit at a small profit and move to the sidelines. [...]
Australia elected its first female prime minister. Let’s see if a woman can get things back in order. Perhaps other global leaders could learn a thing or two. Looking at the daily chart in August Crude we may get a bounce from here as the trend line that has been in place since mid-May held today. [...]
After making a new high Crude failed and closed almost $2 off its’ intra-day high. We suggest exiting all remaining longs as we suspect a set back. We anticipate a challenge of at least the 20 day MA; in August that level is $75.15. We’re not suggesting getting short but rather moving to the sidelines. [...]
For the time being indices are in the driver’s seat and as long as stocks are moving higher RISK is on. A falling dollar should also lend support. Oil made a higher high and higher low today but as we posted in our weekly commentary we need to see a settlement above $76 in July [...]
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 [...]
Oil gained virtually 4% today and is $4 off its lows yesterday. As soon as we get thru the 9 day MA we expect to see more buying; that level is just above today’s high. From here we see a grind higher to $76/barrel. That being said we expect heating oil and RBOB to trade [...]
