Metals- continue blast up, off olive buys, now diamond pattern up.

Alan Palmer Energy, General Commentary, Grains, Livestock Leave a Comment

US dollar- showing its true colors folks.  The FED wants inflation?  It’s a coming in my opinion and the dollars that will be sloshing around may get untenable but that exciting part is in future. 92.61 is a TL and everyone is bullish.  Call me 100 lower when panic and chaos algos start to develop.  See prev $ chart. LUMBER IN JAN HAD AN OLS THAT SO FAR seems to be panning out if your bearish, or call me.  455.30 is the horizontal line sell level.

Macro speaking- World diet is getting better.  Remember when China went from no egg to 1 egg a week?  Is this when they go to meat?  WSJ article at that top in Cattle was it?  I could be wrong of course but I favor an inflation theme with a dash of speculative leverage.  I think money managers are biting at bit buying index or indexing.  I have no opinion in meats into year-end.  Don’t worry, this game will show its colors.  We export our valuable NatGas why wouldn’t we do meats?  I also think the US economy is going to explode to upside.  What are odds of 5% GDP?  Who bets against 1st-time-ever’s ?  Option guys.  Im bullish 1st-time-evers.  Chgo PMI sentiment off charts 67.6, 61.5 last.

US Housing market now at $32 Tril.  In 2008 it topped at $27 Tril before Gold M did the credit default clearinghouse that cleared out bankster Wells Fargo on taxpayer dime, a story.

Feeders- Mch caught an olive buy recent lows but front and backs missed by a smidge.  Hogs- Aug- this is the one that has an OLS also missing by touch by 84.00 HEQ.  This will be pivotal going forward.

Bean oil- falling knife alert, when markets go vertical you need an olive.  Last weeks saw a 3 day 100 tick bounce, funds selling the —- out of beans and prob beanoil.  Let the machines do their thing and only play when OL strikes, otherwise it is just another new low.  They usually come up short as shorts cover in this BOH example.   Yest am voice comment  http://www.byoaudio.com/play/WsRQQr1Q

Good Morning,

I had been giving out 59.87 for a months, now as an extreme crude oil OLS. We rolled and I think the 6060 ish FEB is correct but someone big must be using that old 59.87 was equiv to Jan contract. Today’s high 3rd day. This is real and it is live.

Someone big is selling a lot of crude here.

See what is involved in futures now a days?

Anyway this is a pretty large olive sell short in crude. Stop over. Caution, this is a year end short blow in my opinion. Someone big always pays top tick in size.——————————————

Metals- We are flying higher still off OLB 15.84, PLJ 882, GCEJ 1246-ish, now posting diamonds the other way on upside.  Folks, just wait for next year as I see these swings even more volatile. 1301-ish is an apex but pattern went from straight down to straight up now.  Didn’t we all know silver wouldn’t close lower on year?  Wheat seems bulletproof.  Meal has a tiny support 515.70 ish before you get all beared up.  Pick a level and put a stop in.  If not stopped out (my stop levels only) you can expect vertical moves your way as we don’t hang around at my levels long.

Crude oil-  Meet Mr Olive colored sell $60-ish a very solid sell level long term.  Only if looking.  Someone big is selling crude in my opinion in size, sheep buying almost 40% up in six month rally.  I have cautioned option pro clients that I had one more of these extremes into yearend for over a month.  Is it like the $29 OLB?  No but it is respectable.

Bonds- Anyone want to bet on higher interest rates next year?  Auction today graded a D by Rick Santelli CNBC.  The weight of debt may be upon US.  Budget deal will fuel and accelerate income inequality.  I see no way this will not continue with the corporate goodies for the top 6,000 individuals and corporations.  Disclaimer; I love accounting frauds.

If you find this pattern recognition interesting or feel it might help your bottom line then feel free to give me a call.  312 957 8248

My Silver Tudor Jones Employee Cup given out in early 90’s.

Leave a Reply

Your email address will not be published. Required fields are marked *