Author: The INO.com Team

Weekly Futures Recap With Mike Seery

Posted on by The INO.com Team

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 1,294 while currently trading at 1,306 up about $12 for the trading week breaking the critical 1,300 level now looking to retest the April 17th high of 1,307 as this bullish trend remains intact in my opinion. I'm currently not involved in gold, however, if you do have a bullish position continue to place the stop loss under the 10-day low standing at 1,257. The chart structure will start to improve over the next couple of days, therefore, lowering the monetary risk as low-interest rates in the United States continue to help push up the precious metals here in the short-term. A major terrorist attack in Spain on Thursday is also helping push prices higher as the world is on alert for more attacks in the coming weeks. Prices are trading above their 20 and 100-day moving average telling you that this trend is to the upside with the next major level of resistance all the way at 1,350 which was touched in last November during the U.S election. At present my only precious metal recommendation is still a bullish position in the copper market, but it looks like higher prices are ahead across the board.
TREND: HIGHER
CHART STRUCTURE: IMPROVING
Continue reading "Weekly Futures Recap With Mike Seery" →

Stocks Turn On Bannon's Exit

Posted on by The INO.com Team

Hello Traders everywhere. The stock market was trading and trending lower for the day to close at a four-day low when all of the sudden it reversed course. The cause for the reverse, news that White House strategist Steve Bannon was dismissed from his duties by President Donald Trump.

I can't recall such a clear and distinct turnaround caused by news from the White House like today; it sure came out of nowhere.

MarketClub's Mid-day Market Report

Oil prices jumped higher Friday as the stock market strengthened and the U.S. dollar weakened. However, crude oil futures remain on track to close the week down as traders are still worried about the global oil glut.

Key levels to watch next week: Continue reading "Stocks Turn On Bannon's Exit" →

This Cannabis Innovator Is Down 50% In Two Months - Time to Buy?

Posted on by The INO.com Team

Analysis originally distributed on August 9, 2017 By: Michael Vodicka of Cannabis Stock Trades

A new and innovative business model is emerging in Canada’s cannabis industry. Not only is it a potentially safer way to invest in the highly volatile cannabis sector, it could also be more profitable than investing in individual cannabis companies.

No, it’s not an ETF or a mutual fund. It’s something called streaming – let me explain.

Cannabis Wheaton Income Corp.(CDNX:CBW) is a young Canadian cannabis company headquartered in Vancouver that just went public in early May.

CBW is pioneering a new and innovative business model in Canada’s cannabis industry known as streaming.

CBW

Streaming means providing funding to cannabis companies to help them build and expand operations in exchange for an equity stake and a portion of the cultivation production.

This model comes straight from the gold and silver mining industry. In fact, Cannabis Wheaton is actually named after Wheaton Precious Metals Corp. (NYSE:WPM), now called Wheaton Precious Metals Corp., a pioneer of streaming in Canada’s precious metals industry. Continue reading "This Cannabis Innovator Is Down 50% In Two Months - Time to Buy?" →

Stocks Gain As Global Tension Eases

Posted on by The INO.com Team

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

Posted on by The INO.com Team

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" →