S&P 500
1996.74
-3.38 -0.17%
Dow Indu
17079.57
-42.44 -0.25%
Nasdaq
4557.42
-12.20 -0.27%
Crude Oil
94.50
-0.05 -0.05%
Gold
1289.465
+3.650 +0.28%
Euro
1.318390
-0.002410 -0.18%
US Dollar
82.462
-0.029 -0.04%
Weak

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.

Crude Oil Futures

Crude oil futures in the October contract down are $.30 this Friday afternoon currently trading at $93.60 a barrel finishing down about $1.50 for the trading week and I’m still recommending a short position in crude oil placing your stop above the 10 day high which on Monday’s trade will be at 97.10 risking around $4 or $4,000 per contract as the trend seems to be getting stronger to the downside as the U.S dollar is pressuring commodity prices hitting an 11 month high against the Euro currency this afternoon. The chart structure in crude oil will improve dramatically in the next several days so be patient as prices are still trading below their 20 and 100 day moving average dropping around $12 in the last 3 months as world supplies are extremely large at the current time and my theory states that the United States government wants to hurt Russia and the one way to hurt Russia’s economy is by pressuring oil prices as Russia’s economy is basically based on high energy prices so continue to play this to the downside as I think we will crack $90 a barrel in the next couple of weeks.
TREND: LOWER
CHART STRUCTURE: IMPROVING
[Read more...]

Coming Back From a Loss

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple.

If you like this article, Larry’s also agreed to give you free access to his weekly trading tip.

A friend of mine in the pit had been having a rough time of late when he asked me a typical question among us traders - How do I come back from a loss? Since he had been having a "rough patch" and not just one bad trade, I gave him the following advice that is to be used over a period of time.

First I asked him, "What does your trading journal look like - or maybe you don't have one?"

He didn't think it was necessary, which was his first mistake. It is critical to keep a trading journal.

In my journal I ask myself everyday "Did I follow my trading plan properly? Did I do anything wrong and if so, why?" If I did follow my plan correctly but I lost money, I am not hard on myself. Sometimes this happens! If I didn't follow my rules but still made money, however, that's a problem.

I highlight these days so I never repeat this fatal flaw. One of the worst things you can do is ignore your rules and make money, because then you feel that "winging it" is a good plan. It is not.

If this happens, you have to ask yourself; "Why didn't I follow my rules?" Was it lack of confidence in the system? Fear? Or did my ego want to be the hero that sold the high?" [Read more...]

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.

Crude Oil Futures

Crude oil futures hit a 5 month low this week in New York finishing higher this Friday afternoon at 96.95 up around $.1.40 as I have been recommending a short position in crude oil for quite some time and if you took that recommendation when the breakout occurred around 98.70 make sure you place your stop at the 10 day low which also stands at 98.70 as prices have been pretty nonvolatile in the last week or so except for Thursday’s trade when oil finished down over $2 as the U.S dollar is pressuring crude oil and many other commodity prices to the downside. The next major level of support is around 94.50 a barrel and if that level is broken I think there’s a possibility prices trade as low as $90 as the U.S government wants oil prices to go lower due to the fact that Russia’s economy relies on high oil prices so if prices drop dramatically Russia’s economy goes in the tank and with all the sanctions against them that could change the current situation with Putin. Crude oil futures are trading below their 20 and 100 day moving average so continue to play this to the downside as the chart structure is outstanding and take advantage of any rally making sure that you use a proper stop loss and proper money management techniques to limit your loss to 2% of your account balance on any given trade.
TREND: LOWER
CHART STRUCTURE: EXCELLENT
[Read more...]

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.

Crude Oil Futures

Crude oil futures in the September contract finished basically unchanged for the trading week to close around 97.60 and I have been recommending a short position when prices broke 98.70 last week while placing your stop loss now above the 10 day high which is 102.10 risking around $4.00 or $2,000 per contract as the chart structure will improve dramatically in the next 2 days so if you’re lucky enough to get a rally in tomorrow’s trade take advantage will placing the proper stop loss minimizing your risk to 2% of your account balance. Many of the commodity markets were lower again today due to the fact that the U.S dollar hit a new 6 month high and I still do believe that the federal government wants lower oil prices because Russia’s economy is based on high oil prices and there’s no better way to hurt the Russians than push crude oil back down to $80 a barrel so continue to sell this market as I remain bearish. Crude oil futures are trading below their 20 and 100 day moving average with the next major support around 96.50 if that level is broken I think you will retest the March lows of around 94.25 so continue to play this to the downside.
TREND: LOWER
CHART STRUCTURE: Improving
[Read more...]

Avoiding Mental Sabotage

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple.

If you like this article, Larry’s also agreed to give you free access to his Weekly Trading Tip.

I have heard that 95% or more of all traders ultimately fail.

Have you ever wondered why?

Most traders will tell you it was the system or method they were using. They'll also tell you they had a few bad trades they couldn't recover from. Or their dog chewed through the telephone cord just as their computer crashed, and they couldn't get out of a losing trade. [Read more...]

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.

Silver Futures

Silver futures in the September contract are settling around 20.40 an ounce finishing down about $.25 for the trading week while still trading below their 20 but above their 100 day moving average hitting a 5 week low and if you are currently bearish silver I would sell at today’s price while placing my stop above the 10 day high which is 21.12 risking around $.50 or $2,500 per contract as the chart structure is outstanding currently. Many of the commodity markets are going lower because of the U.S dollar hitting a 6 month high against the Euro currency as I think that trend is going to continue here in the short term. The volatility in silver is extremely low at the current time and I would assume with all the worldwide problems that volatility will start to increase however prices still look weak in my opinion as the Federal Reserve is cutting back on the quantitative easing which is also a negative influence on precious metals prices as the fundamentals currently are neutral to weak.
TREND: LOWER
CHART STRUCTURE: EXCELLENT

[Read more...]

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.

Silver Futures

Silver futures in the September contract rallied $.35 cents this week as tensions between Israel and Hamas have sent prices to 4 month highs at 21.48 with the next major resistance at $22 as I’ve been recommending a long position when prices hit a 4 week high breaking above 20.02 about 3 weeks ago so continue to place a stop below the 10 day low as the chart structure is outstanding as that level currently stands at 20.82 risking around $.70 or $3,500 per contract at these price levels. Silver has been going higher in recent weeks as this commodity has solid demand due to electronics and many other products that currently use silver and if you’ve been following any of my previous blogs for the last several months I thought prices were extremely cheap especially compared to the rest of the commodity markets so continue to be long while placing your stop at the 2 week low as prices are trading above their 20 and 100 day moving average telling you that the trend remains higher.
TREND: HIGHER
CHART STRUCTURE: EXCELLENT

[Read more...]

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 August contract basically finished unchanged for the trading week with very little volatility trading at 1,319 still right near a 3 month high and if your currently bullish this market I would buy a futures contract at today’s price while placing my stop below the 2 week low which currently stands at 1,260 risking around $6,000 per contract, however that chart structure will improve dramatically in the next couple of days as volatility has really slowed down as we enter the Fourth of July holiday weekend. I am currently sitting on the sidelines in this market as I’m waiting for better chart structure to develop which is already currently happening and if you’re looking to get short this market I would sell at today’s price while placing your stop above today’s high of 1,325 an ounce risking around $600 per contract as if prices break that level to the upside I would have to think the trend has definitely turned bullish. Gold futures are trading above their 20 and 100 day moving average as the chaos in Iraq is certainly propelling prices in recent weeks as gold had a bearish trend for quite some time actually hitting 1,240 earlier in the month so I’m not totally convinced where prices are going to and that’s why I’m sitting on the sidelines.
TREND: HIGHER
CHART STRUCTURE: IMPROVING

[Read more...]

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 August contract went out last Friday at 1,274 exploding this week settling around 1,316 up about $42 and all that activity was in Thursday’s trade as prices traded up over $40 due to the craziness that’s going on in Iraq and the fact that the entire country basically imploded in weeks after the U.S spent almost $1 trillion and 4,500 deaths Iraq is worse off today than it was 10 years ago as investors finally woke up and started buying the gold market. Gold futures are trading above their 20 and 100 day moving average hitting a two-month high and as a trend follower I have to believe that prices are going higher however at the current time I am on the sidelines due to the fact that there is terrible chart structure so I’m waiting for a better chart pattern to develop.

The problem with Iraq is the situation is not going to go away like the Syrian problem as this is going to be around for years to come and could spread into other countries and don’t forget the fact that Iran is developing a nuclear bomb which is amazing to me how no country has stopped that production and that will be a huge problem down the road as well as interesting times are back in the precious metals as volatility certainly looks like it’s going to increase to much higher levels.
TREND: HIGHER
CHART STRUCTURE: POOR

[Read more...]

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 August contract settled last Friday at 1,252 an ounce while going out in New York today Friday the 13th at 1,274 an ounce trading higher by over $20 an ounce bucking its recent bearish trend. Currently I’m sitting on the sidelines and waiting for another trend to develop as the reason gold snap backed was in the last couple days 2 major cities in Iraq have been taken over by Al Qaeda and it’s a possibility that Baghdad is next bringing the possibility of U.S troops once again sending crude oil and the precious metals higher today. Gold is trading above its 20 day but still below 100 day moving average which stands at 1,296 so keep a close eye on this market as there’s a possibility prices may have bottomed in the short term due to the geopolitical risk. If you believe that prices have bottomed my recommendation would be to buy at today’s price while placing my stop below the recent low of 1,240 risking around $3,300 per contract in case the trend does change and if the Iraqi situation really flares up gold prices would move sharply higher in the short term just on short covering alone. The volatility in my opinion will start to increase over the next several months as it has remained low for some time now so you might want to look at put or call options because the premiums are relatively cheap.
TREND: MIXED
CHART STRUCTURE: IMPROVING

[Read more...]

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