No movement was truly notable to report with muted action commodity wide. Inside day in Crude with mixed signals as prices were unable to make a new high but we did hold the 9 day MA so tomorrow the market should make a decision based on the inventory report. We suspect a trade over $88 [...]
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 [...]
As long as indices tread water or move higher money should flow back into commodities and out of Treasuries and the US dollar. Crude followed thru today and now has the 20 day MA in its sights. As we said yesterday as long as equities move higher we think we could see crude appreciate $3-5 [...]
To me virtually everything is trading of the indices so look to the equity market for guidance and positioning. Crude was higher but I’m not convinced the damage is done just yet. If the 9 day crosses the 20 day which would mean prices would be $1 higher in futures I will likely get clients [...]
A $2.50 range in oil today lifted prices back above $79/barrel. If you saw out interview on www.thestreet.com we thought a move back over $80/81 was likely if we got a close over the 40 day MA which happened today. We suggest staying long April futures as long as today’s lows hold and we will be [...]
We would advise traders to be out of 2/3 of their longs as prices could go either way from here on the ES trades. Ultimately we are looking for a little more on this move but based on todays action we could see some profitt taking off the most recent dead cat bounce. We would [...]
Natural gas and crude were higher on the day. We are currently pricing out bullish strategies for March . Still holding the February $8 at a loss looking to trade out for clients. Although we still expect a pullback in gold and silver we are recommending light long exposure in silver. For option traders we [...]
