The Fedral Reserve raised interest rates by a quarter percent on Wednesday. This move has been expected for weeks and the Fed did not disappoint. On the news the dollar fell; foreign currencies and gold rallied strongly. Traders are now of the opinion that there will be one or at most two additional interest rate increases for the remainder of …
Livestock Levels
Live Cattle April Live Cattle broke down from Monday’s low (117.575) on Tuesday, March 14, 2017. Live Cattle attempted to rally at the open reaching the high of the day at 118.00 before breaking down and testing support down at the 8 DMA (116.25). It made its early low at 116.225 and then grinded higher and tested the 117.825 resistance …
Daily Gold Levels
April Gold futures continues to settle above the 1200 level by the barest of margins. The market has endured a $60.00 break from the February highs due to increased expectations of a interest rate hike of a quarter point that could be announced tomorrow afternoon at 1:15 CST. Long liquidation in both energies and metals has been the theme over …
Currency comment 3/14
The dollar rose moderately on Tuesday. Small lot speculative buying was evident throughout the session. Heavier selling pressure was seen in the Euro FX with lighter pressure in the British pound. All eyes are focused on Washington today and tomorrow as the Fed conducts a two day meeting on policy. It is a forgone conclusion that short term interest rates will be …
Camkay’s February 2017 Monthly Report
Camkay Capital Management *Comments by Gary Hart Looking Back The Stock Indices Short-Term Program was down 0.29% for the month is up 2.73% year-to-date. February continued the low volatility bullish environment we’ve had since the election. There was little short-term movement and hence light trading in this program. Composite rate of return table (net of all fees and commissions): PAST PERFORMANCE IS …
Livestock Levels
Live Cattle April Live Cattle traded in a tight range on Monday, March 13, 2017 as it was unable to overtake trendline resistance at 118.70 reaching 118.425. The tight range is the narrowest in the past 7 days and it ended the day near its low and below 117.825 resistance once again. A failure from the Monday low (117.575) could …
Currency comment 3/13
Another very dull trading session in currencies on Monday. Many traders are squaring positions ahead of the Feb announcement on short term interest rates on Wednesday. As was seen on Friday when the employment report was released with higher than expected growth in jobs it was the market reaction rather than the news that was the news. It may be …
Absolute Momentum Strategy – Weekly Snapshot (3.10.17)
Below is a snapshot of open trade positions in the Absolute Momentum Strategy investment. The total open trade equity in the portfolio inclusive of fees and commissions as of the close of trading on Friday, March 10th, 2017 = $3,361 LAST WEEK IN TRADING Long Term Commodity Trader Long May Cotton was entered at 79.13 on 3/2/17. Net Profit/ Loss is …
Livestock Levels
Live Cattle April Live Cattle started the week on a sour note, selling off on Monday and Tuesday (making the low on Tuesday), before recovering and rallying the remainder of the week. The rally sent price past resistance at 117.825 and towards weekly trendline resistance at 118.70. The high was 118.25 and trade couldn’t overcome resistance as it dropped below …
Jobs data delivers
Economy Continues to Show Strength Non Farm Payrolls came in at a solid 235,000, verse expectations around 200,000 for February. The unemployment rate held steady at 4.7% The equities seemed to initially like the news, but then sold off to negative levels s on the day. Sideways trading dictated most of the day, in a fairly tame session. A rally …