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Weekly Futures Recap W/Mike Seery

June 14, 2013 By Leave a Comment

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.

Precious Metal Futures-- The precious metals this week traded in a very tight trading range which is very unusual because these are volatile commodities with gold trading in a 3 week range as exchange traded products were reduced for the 17th consecutive week pressuring prices once again, however this Friday prices rallied about $9 at 1,387 ounce in the August contract. Prices for the week were up very slightly but my opinion I still believe prices are headed lower in gold at this point in time especially with a pessimistic commodity market and very weak dollar which has not propelled prices higher and that has been very concerning if you are bullish because once the dollar starts to rally again you could see some heavy pressure in the gold market coming weeks. Silver futures are still trading below their 20 & 100 day moving average with great chart structure settling last Friday at 21.74 an ounce settling right around $22 this Friday afternoon up slightly for the week but still right near 2 ½ year lows and I’m still recommending a short position due to the fact of terrific chart structure allowing you place a stop at 10 day high which is at 21.75 currently risking around $750 per contract if you trading the mini contract. [Read more...]

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Weekly Futures Recap W/Mike Seery

June 7, 2013 By Leave a Comment

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.

Grain Futures-- The grain market closed higher today with November soybeans up 25 cents to finish on the highs of the trading session at 13.30 a bushel all due to a sharply weaker U.S dollar this week with planting problems as well. Corn futures for the December contract were higher by 11 cents currently trading at 5.59 a bushel after filling the gap at 5.40 yesterday which I stated I thought prices would come back down and fill that important price level but corn still remains choppy. I am bearish the new crop soybeans & corn because I do think this weather is good for crop conditions in the long run with the weather improving in the Midwest with warmer temperatures and no rain in the forecast for several days. What a difference a year makes as last year we were basically 95° almost every single day while this year is extremely wet and cold which could push prices lower in my opinion. [Read more...]

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Weekly Futures Recap W/Mike Seery

May 24, 2013 By

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.

Grain Futures--- Grain Futures--- The grain market saw extreme volatility this week especially in the July soybeans which were up over $.50 yesterday hitting a high of 15.46 then reversing and settling unchanged settling today at 14.76 a bushel down 23 cents and has sold off 75 cents in 2 days and that tells me that there’s a possibility that this could be short term high. The November soybeans which I have talked about in previous blogs stating if prices are able to break above 12.40 a bushel hitting a 6 week high continuing its bullish trend I would advise traders to buy soybeans above that level risking $12 stop which is around $400 per mini contract as the trend continues to move higher. The U.S dollar today was slightly lower not impacting many of the commodities today except for a selected few with a really wishy-washy trend and I still think July soybeans are headed higher despite the fact of the tremendous selloff happening in the last 2 days & I think that was just profit taking and there are very few supplies to be sold and that’s the reason prices are headed higher in my opinion. [Read more...]

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Weekly Futures Recap W/ Mike Seery

May 10, 2013 By

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.

Precious Metals--- The precious metals in New York sold off sharply with gold down nearly $36 an ounce to settle around 1,433 down nearly $35 for the trading week which is basically all in today’s session as the U.S dollar has rallied sharply in 2 days while the Japanese Yen is hitting a 5 year low selling off nearly 300 points in the last 2 trading sessions. Gold futures for the June contract are trading below their 20 and 100 day moving average right near a 3 week low still extremely volatile and very choppy and I’m still advising traders to sit on the sidelines at this point in time and there still the possibility that gold could retest the mid-1300s before stabilizing. Silver futures were down about $.35 for the trading session after settling last Friday at 24.02 down nearly $.40 for the trading week trading below their 20 and 100 day moving average and still basically stuck in a 3 week channel really in a directionless trade I’m also advising traders to sit on the sidelines in this market until it has improving chart structure. Copper futures were one of the bright metals this week trading above its 20 day moving average but below its 100 day moving average which is currently at 3.56 pound after settling last Friday at 3.31 finishing slightly higher for the week which is impressive in my opinion since many of the commodity markets this Friday were sharply to the downside. [Read more...]

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Weekly Futures Recap W/ Mike Seery

May 3, 2013 By

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.

Grain Futures-- The grain futures this week saw extreme volatile trading action with November soybeans up nearly $.16 this Friday to settle around 12.20 a bushel trading right at its 20 day moving average but still below its 100 day moving average after settling last Friday at 12.10 a bushel gaining slightly as floods have entered the Midwest. Soybeans on the daily chart could have a possible double bottom in the November soybeans as prices traded as high as 12.40 in Wednesday’s trading session before retracing only the spring right back as weather conditions in many states are still receiving record snow. December corn futures are lower by 5 cents this Friday afternoon trading above its 20 day moving average but below its 100 day moving average which stands at 5.69 after settling last Friday at 5.24 up around $.35 for the week as massive floods are delaying planting. The Midwest has had the 2nd coldest spring in the history of the United States and has delayed planting significantly which is concerning after last year’s terrible crop. Wheat futures for the July contract have broken out above the 7.20 level which is now at a 4 week high trading above its 20 day moving average but below its 100 day moving average which stands at 7.48 and I do believe that there will be further buy stops which could propel prices even higher. [Read more...]

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Weekly Futures Recap W/Mike Seery

April 27, 2013 By

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.

Precious Metal Futures-- The precious metals today were lower across the board after rallying sharply higher in early trade only to reverse and sell off towards the closing bell finishing lower for the 1st time in 4 trading sessions finishing down $8 an ounce in the June contract at 1,454. There has been extreme volatility lately finishing higher by $60 dollars for the week bucking its bearish trend and as I've been stating in previous blogs I remain bearish the precious metals, however I do believe gold will remain choppy and try to consolidate the huge collapse that we saw last week. [Read more...]

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Weekly Futures Recap W/Mike Seery

April 19, 2013 By

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.

Precious Metal Futures-- Precious metals in New York this week had a wild ride to the downside with gold finishing up $1 an ounce this Friday afternoon at 1,393 and was up nearly $30 in early trade just to selloff near session lows and during the week sold off about $105 dollars since last Friday settling at 1,501 and traded as low as 1,335 hitting a new 2 year low and as I’ve been advising in previous blogs I remain very bearish the precious metals sector, however I do believe that the easy money has been made and you could chop around here for next couple of weeks due to the fact of such a dramatic selloff which was the worst selloff since 1983 as investors see no reason to own gold at this point in time despite the fact of easy monetary policies throughout the world. [Read more...]

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Weekly Futures Recap W/Mike Seery

April 12, 2013 By

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.

Cocoa Futures-- Cocoa futures in New York rallied  for the 2nd consecutive trading session settling in the July contract at 2257 trading above its 20 day moving average and now also above its 100 day moving average with excellent chart structure and in my opinion if you look at cocoa on the daily chart it has a nice grinding stair step pattern to the upside with a possible double bottom created at 2046 which was hit on 3 – 7 – 13 with the next major resistance at 2300 and if that is broken and I do believe there is a good possibility of prices hitting 2450 in the next 1-2 weeks while a bull market might be underway in cocoa prices. [Read more...]

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Weekly Futures Recap W/Mike Seery

April 5, 2013 By

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.

Coffee Futures--- Coffee futures in New York are trading higher for the 3rd consecutive session currently in the July contract at 142.70 a pound looking like a possible bottom may have been hit a couple weeks ago at 135 on the fact of possible crop production cuts in Vietnam and  Central America due to drought and rust which could consume up to 20 to 30% of next year’s crop while this year’s crop should be very large coming out of Brazil and that is one of the reasons why prices have been going lower right near a new 2 ½ year low. Many of the commodity markets in recent weeks have been heading lower as the U.S dollar has rallied but coffee seems to have stabilized here at this level and remember coffee traded above 300 a pound over 2 years ago and has really fallen out of bed so eventually I do think if you’re longer-term investor these prices are very attractive down at these levels. [Read more...]

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Weekly Futures Recap W/Mike Seery

March 28, 2013 By

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.

Precious Metal Futures-- Precious metals this week settled slightly lower in a volatile trade with the U.S dollar continuing its bullish momentum putting some pressure on gold for the week finishing down around $11 at 1,594 an ounce in the June contract settling lower this Friday while settling last Friday at 1, 598 an ounce still trading right above its 20 day moving average for far away from its 100 day moving average stuck in a 6 week consolidation unable to break out above 1, 620 despite the fact that there’s nervousness in European banks with you would think investors will be flocking to gold at this point but it has not happened at least not yet. Silver futures for the May contract settled about $.30 lower for the week still trading far below its 20 and 100 day moving average also stuck in a 6 week consolidation as I’ve stated in previous blogs until silver breaks $28 which it came close to in yesterday’s trade before rallying I still remain bullish on this sector and I do believe that the worst is over in the commodity selloff and if you look at the CRB index its trading at a 4 week high which is a commodity index which is a basket of commodities so I think the trend is starting to change. [Read more...]

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