Gold prices flirted with the 1300.0 level yet gain on Tuesday but buying interest waned into the close with the front month June contract settling at 1294.1. In fact it looked like Gold was set to turn over amid heavy profit taking as heavy fund selling dominated morning trading with one fund liquidating 22K contracts this morning. However a weaker …
Currency comment 4/18
The U.S. dollar fell moderately lower Tuesday in a continued corrective move. The euro fx and Swiss franc moved higher. The real star in fx markets today was the British pound. The pound moved strongly higher as traders reacted to the news that Prime Minister May has called for a snap election in the UK for June 8. This news surprised most …
Ag Commentary
The beans were weaker today. The weather is improving. The south American crop is coming in. The overall size of the production has been discussed. This will continue to overhang the market in the long run. Rallies are always possible but should be looked at as a opportunity. The Fund have apparently switched beans from long to short. The meal …
Absolute Momentum Strategy – Weekly Snapshot
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, April 14th, 2017 = $8,733.75 LAST WEEK IN TRADING Long Term Commodity Trader click to enlarge Long June 30 Year Bond was entered at 152.14 on …
Currency comment 4/13
The currency markets were thrown into turmoil late Wednesday afternoon when President Trump said he thought the U.S. dollar was too strong. This sent the dollar much lower and foreign currencies higher. This movement continued on Thursday although the extent of the move was diminished. The effect was more extreme in the U.S. equity markets which moved strongly lower on …
Ag Commentary
The Easter Weekend arrives in time to give the markets a bit of a breather. The USDA report put a short term low in place. Why? Good question. Perhaps it is the time of year. Perhaps the market has bounced after the last few years, and this is a habit. Whatever the reason we cant fight the tape. Patience is …
Currency comment 4/11
The U.S. dollar fell moderately on Tuesday as foreign currencies rallied. It was normal profit taking after the recent strength in the dollar. The biggest currency action was the Japanese yen which moved up over 100 points on aggressive speculative buying. U.S. stocks fell while bonds saw a strong rally on “safe harbor” buying. The real stars on Tuesday were the …
Windy City Jim’s – Daily Trade Recommendations (4/12/17)
Futures Day Trading Signals (Wednesday, April 12th, 2017) Author: Windy City Jim 312-948-9456 NEVER RISK MORE THAN YOU CAN AFFORD TO LOSE. CALL FOR RECOMMENDATIONS ON PROTECTIVE STOPS. SEE FULL DISCLAIM ON FUTURES TRADING AT THE BOTTOM. WE ONLY ENTER THE MARKET IF THE PRICE HITS THE BUY OR SELL POINT BUY SIGNAL Commodity : May Coffee Previous Closing Price : 14020 …
Ag Commentary
The Wasde report is behind us. The numbers appear bearish over the long haul. The domestic carryover is raised 10 million bu. The global carryover is raised 4.6 mmt. The global number is 87.4 mmt This represents a 10 mmt increase year on year. The bean availability globally is very astounding. The long term outlook will remain bearish without a …
Livestock Report
Live Cattle June Live cattle rallied from the38 % retracement level (111.76) and traded to a high of 113.65 on Monday, April 10, 2017. It couldn’t quite make it to the March 23 high (114.20) as the 21 DMA (113.725) stopped the advance. Price failed from the high and Live Cattle traded down to the low of the day (112.10). …