Weekly Futures Recap With Mike Seery

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

Gold futures in the December contract settled last Friday in New York at 1,297 an ounce while currently trading at 1,324 up about $27 for the week trading far above it's 20 and 100-day moving average. This trend continues to the upside on a weekly basis as prices have now hit a 10-month high. Tensions with North Korea escalated this week as they sent another missile over Japan which continues to support gold prices and I don't think that situation is going away anytime soon. If you are long a futures contract, continue to place the stop loss under the 10-day low which stands at 1,278 as the chart structure is poor because prices have run up rather quickly this week. The U.S. dollar has also hit a 2-year low which is supporting gold & the precious metals across the board with the next significant level of resistance at 1,350. If that level is broken, you would have to think that we could test the $1,400 level. Gold prices will depend on what North Korea and the United States conflict turns into as I don't see any other situation than the United States doing some military action against their nuclear facilities. This problem is getting worse not better as diplomatic negotiations have not worked for years so continue to play this to the upside.
TREND: HIGHER
CHART STRUCTURE: POOR

Continue reading "Weekly Futures Recap With Mike Seery"

Stocks Gain As Global Tension Eases

Hello traders everywhere. Stock markets around the globe are posting gains today as the tensions between the U.S. and North Korea have eased a bit. The S&P 500 and NASDAQ are both posting 1% gains with the DOW trailing closely on their heels.

Concerns over a rise in OPEC crude production has pushed oil down little over 1% to 48.13, its lowest level in slightly over two weeks. Check out Robert Boselego's recent article on OPEC's production numbers and where he sees the price of oil heading.

Gold has retreated from its Friday high of 1298.10 and is currently trading lower for the day coming under pressure from a strengthening dollar.

MarketClub's Mid-day Market Report

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 12.4, down about 20%. The index posted its largest weekly gain since December 2015 last week as the North Korea situation escalated.

Key levels to watch this week: Continue reading "Stocks Gain As Global Tension Eases"

Weekly Futures Recap With Mike Seery

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.

Wheat Futures

Wheat futures in the December contract settled last Friday in Chicago at 4.82 a bushel while currently trading at 4.65 down about $0.17 for the trading week reacting to a very bearish USDA crop report which was released yesterday sending prices down $0.20. Ending wheat stocks were stated at 933 million bushels, but expectations were around 901. That coupled with the excellent growing conditions pushed wheat prices to lows that we haven't seen since June 12th. There is major support around the 4.50/4.60 level as we traded in that area for several months before rallying on fears of drought in the Dakotas and the state of Montana. I have been looking at a bullish position in this market, but I will avoid the grains for now as they still look like they are headed lower in my opinion. Wheat prices are trading under their 20 and 100-day moving average telling you that the trend is to the downside as the chart structure is poor, so look at other markets with a better risk/reward scenario.
TREND:LOWER
CHART STRUCTURE: POOR

Continue reading "Weekly Futures Recap With Mike Seery"

Aurora Delivers 2,500% Revenue Growth in 12 Months

Analysis originally distributed on May 19, 2017 By: Michael Vodicka of Cannabis Stock Trades

First-quarter earnings season is almost over.

And the cannabis sector has been knocking it out of the park.

A lot of the stocks that we have covered over the last few months have stepped up and delivered excellent results.

Let's take a closer look.

In terms of pure growth, the best report I've seen came from Aurora Cannabis (ACBFF), one of the largest medical cannabis companies in Canada

Revenue jumped 2,500% from the same period last year to $5.2 million and was up 33% from just last quarter. Continue reading "Aurora Delivers 2,500% Revenue Growth in 12 Months"