We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.
Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.
Gold futures in the April contract settled last Friday in New York at 1,324 an ounce while currently trading at 1,317 down about $7 for the trading week near a two week low. I'm not involved in this commodity, however, I am looking for a possible short position in next week's trade once the chart structure improves. In my opinion gold prices could retest the March 1st low of around 1,303 as we are now trading under their 20-day moving average, but still above their 100-day moving average as this market remains choppy to sideways in the short-term. The U.S dollar looks to have bottomed out and that would be a negative towards the precious metals as silver remains very weak as well as the commodities, in general, have turned negative due to the Trump tariffs which are rattling the markets as we are worried about repercussions coming out of China sending prices lower. Volatility in gold remains relatively low as a double top looks to have been created around the 1,365 level so look to play this to the downside. I think the path of least resistance is to the downside, but wait for the risk/reward to become in your favor; however, I am certainly not recommending a bullish position.
CHART STRUCTURE: IMPROVING
Continue reading "Weekly Futures Recap With Mike Seery"
Last October I focused on the rare case when the price of palladium, for the first time in many years, could surpass the usually dominant platinum price. Both, common sense and chart analysis of the palladium price suggested that the triumph of this metal could be temporary. In the charts below, we can see if this conclusion turned out to be right.
Chart 1. Platinum/Palladium Ratio Monthly: Half-Half
Chart courtesy of tradingview.com
This time I would like to start with the chart of the relative strength of the two metals which is clearly traceable through the platinum/palladium ratio. This ratio is falling sharply from the 2009 high at the 6.09 oz showing the dramatic weakness of platinum compared to palladium. In the chart above, I only show you the period when the drop started to decelerate, and the trend turned flat. Continue reading "Platinum Could Restore Its Supremacy Soon"
Hello traders everywhere. Technical traders and the market in general, are closely watching Bitcoin heading into next week. The reason for concern, a looming Death cross. As I noted earlier in the week, Bitcoin's 50-Day moving average has dropped to the closest proximity to its 200-Day moving average in nine months. The last time it crossed below that level was in 2015 where it remained for ten months before breaking out.
The "death cross" pattern occurs when the 50-Day moving average drops below the 200-Day moving average. The idea is that this cross marks the spot where a shorter-term decline is turning into a longer-term downtrend.
Bitcoin has come under growing pressure recently with Google announcing that they will not only ban all ads for cryptocurrencies, including bitcoin and initial coin offerings (ICOs), they will also ban cryptocurrency exchanges and wallets, as it seeks to "tackle emerging threats."
Regulation is also becoming a growing concern for Bitcoin, and the cryptocurrency space as nations around the world are imposing stricter regulations on the use and mining of cryptocurrencies.
Key Levels To Watch Next Week:
S&P 500 (CME:SP500): 2,647.32
Dow (INDEX:DJI): 24,217.76
NASDAQ (NASDAQ:COMP): 7,084.83
Gold (NYMEX:GC.G18.E): 1,330.50
Crude Oil (NYMEX:CL.J18.E): 60.11
U.S. Dollar (NYBOT:DX.H18.E): 89.33
Bitcoin (CME:BRTI): 11,662.32
INO.com and MarketClub.com
As Trader's, we've experienced a lot of uncertainty recently around a pending global trade war. In fact, I have read that economists believe a full-blown trade war could cost the global economy $470 billion. Now that's a significant number, and it certainly could negatively impact your portfolio if you're not careful.
So how do you protect your portfolio and preserve capital?
The answer may have come from your Grandma; it certainly did from mine. She used to say this simple phrase to me on what seemed like a weekly basis, "don't put all of your eggs in one basket!"
Well, it turns out Grandma was right! Grandma knew a great deal about the power of diversification and how it reduces risk in different aspects of your life, and we can relate that directly to trading and investing.
It just doesn’t make sense to trade only one market. There is just too much risk and too little opportunity. A trader needs to stay flexible, and at the same time be diversified. Before we get into the meat and potatoes of market diversification, let's take a look at how the dictionary defines "diversification." Continue reading "One Word Can Protect Against A Trade War"
Analysis originally distributed on March 7, 2018 By: Michael Vodicka of Cannabis Stock Trades
The Canadian cannabis sector scored another blockbuster win last week - and it led to a quick 30% gain for one of Canada's most promising young cannabis companies. If you missed the recent pop higher don't worry - I see this same pattern repeating itself at least a few more times in the next three months. Here's what is going on.
Cronos Group (CRON) is one of Canada's largest and most promising cannabis companies. Shares began trading on the Toronto Venture Stock Exchange in December of 2014. Since then, Cronos has delivered huge gains to shareholders, jumping more than 1400% from its IPO price of $.80.
That impressive performance helped Cronos make history last week when it became the first ever Canadian cannabis producer to trade on the US-based NASDAQ stock exchange. Continue reading "My Plan For Another 30% Gain In 5 Days"