MBWealth’s Commodity Blog

A great saying I read on one of the blogs I read…eat turkey and do not be one. It was referring to doing homework when trading…having a plan and executing it. I for one am looking forward to some turkey and family time …until next week! Crude oil worked lower again today as it appears this [...]

Stocks and commodities got hit today and there should be more to follow. Stocks, energies , Ag even metals were not spared as Risk OFF was the theme today.  Crude failed to make it to higher ground as prices were rejected and the reversal that we’ve been expecting may finally be under way. Aggressive clients [...]

Crude continues to work higher…my suggestion is cover shorts until there is evidence of a top. Are  prices to high…yes but we could advance $3-5 more and we’ve had enough pain. The weakness in RBOB has been the drag as even in the face of rising Crude oil RBOB has declined over 10 cents in [...]

Crude powers through the 40 day MA closing at three week highs just under $99/barrel in August. We maintain a $103 target and continuing at the current up pace prices should reach that level by this time next week. The 2% surge in Crude was dwarfed by the strength in the distillates with RBOB higher [...]

Sometimes in trading I would take luck over talent. It boils down sometimes going with your gut as technical and fundamental research are necessary tools, they alone do not insure success in trading. Crude is back above the 20 day MA advancing 3.5% today. Buy dips as we anticipate a trade over $105 in May in [...]

Through the 50 day MA in Crude today as predicted gaining 3.4% as of this post. Clients have been advised to establish longs in recent sessions looking for this exact move. Our suggestion remains buy dips in either January futures or February options. As Crude appreciates so should the distillates; heating oil and RBOB were [...]

A hush came over the commodity market until FOMC decision. The streak has ended at 9 days with Crude pushing higher today by just less than 2%. We are fairly confident that an interim bottom was established yesterday; $68.59 in the January contract. We have clients long via March $5 call spreads expecting a $5-7 [...]

Oil is above $70 making a new contract high having appreciated some 40% since the beginning of May. We feel you are late to the party if you don’t already have long exposure though we’ll be looking at getting long on a setback if we ever get one?? Ou pick in the energy sector remains [...]

Natural gas is a BUY, we expect a sizeable move not today or tomorrow but over the next 3 months we anticipate a trade up to $5. Contact us if you agree so you can attempt to take advantage of this. US dollar higher by 130 points with all the major currencies getting hit..can I say I [...]

After a monster month commodities held their ground with a number of commodities making new highs. Crude oil up every day this week, fast approaching $70. A correction in oil and RBOB is over due but will it happen? Traders not willing to trade futures or sell options we advised to buy August $4.50/5.50 call [...]