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 February contract are trading above their 20 and 100 day moving average settling last Friday in New York at 1,277 while currently trading at 1,288 an ounce down about $12 this afternoon as I have been recommending a bullish position when prices cracked 1,245 and if you took that trade place your stop at the 10 day low which in Monday’s trade will be 1,217 still risking about $70 or $7,000 per contract plus slippage and commission, however the chart structure will start to improve on a daily basis starting next week. Gold prices hit a 5 month high this week and now is being considered as a currency and not a commodity as nobody wants to own any of the foreign currencies especially the Euro currency which was down another 100 points today sending the U.S dollar to an 11 year high as countries like Yemen are collapsing right in front of our eyes and many other countries are getting crushed by the low crude oil prices so investors are seeking a safe haven in gold despite today’s negative tape. Continue reading "Weekly Futures Recap With Mike Seery" →

The King Is Dead, Windows 10 And Do You Want Fries With That?

Posted on by The INO.com Team

The big news today is the death of King Abdullah of Saudi Arabia. The king was hospitalized with pneumonia-like symptoms in late December and died early Friday at the age of 90. It was understood that Crown Prince Salman, King Abdullah's half brother, was the hand-picked successor and has moved quickly to established himself as the new king.

The death of King Abdullah is a game changer in the Middle East and Saudi Arabia, which holds 46% of the world's oil reserves. Saudi Arabia is a major ally of the US, how that changes now is anyone's guess.

Change equals opportunity and make no mistake about it, behind the scenes in Saudia Arabia the knives are out for Crown Prince Salman, who is 79 years old and not in the best of health. Continue reading "The King Is Dead, Windows 10 And Do You Want Fries With That?" →

Europe Is All Out Of Options

Posted on by The INO.com Team

Money makes the world go around, but it’s the trends, the big trends in money, that we find interesting and profitable.

This morning ECB president, Mario Draghi, who famously stated a couple of years ago that the ECB would do "whatever it takes" to stimulate the European economy. Well, clearly that little sound bite and some awkward moments (Greece, Spain, Portugal) were not enough as Europe remains mired in a recession.

So what does Europe do? Well, they trot out Mario Draghi again to announce another stimulus package. So far, the ECB has been wrong on its growth forecast as well as its inflation forecast. It doesn't exactly inspire confidence in their forecasting ability. Here is my take and it's simple - they have no idea how to get out of this economic hole. I never bought into the idea that getting out of a hole, meant you had to dig a deeper hole.

How are the markets going to react and translate this latest move by the ECB?

In today's video, I'll be looking at all the major markets. I'll take a look at how they are reacting to the ECB’s announcement of its 60 billion monthly bond buying program slated to continue well into 2016. Continue reading "Europe Is All Out Of Options" →

Is This ETF Laying The Foundation For A Rally In Crude Oil?

Posted on by The INO.com Team

Picking bottoms is not something one should do if you're going to be a successful trader. But looking at market that may be forming a bottom is a good exercise, and one that you should be doing on a regular basis.

I had done this before gold reversed to the upside traded over $1300 an ounce. Maybe it's time to look at crude oil and see if it's beginning to set itself up for a move to the upside.

Technically, the Trade Triangles remain negative on crude oil, so there is no reversal showing up with those technical tools.

The story is a little bit different with the RSI indicator. This particular indicator is showing that there is a big positive divergence on the Energy Select Sector SPDR ETF (PACF:XLE), and it is one that spans months.

Today I'm looking at the ETF XLE and the fact that if it closes higher for the week, it will be a positive sign. The previous week saw a very important Japanese candlestick formation call a "Dragon Fly Doji" this can be interpreted as a strong indication of reversal. It all depend's on how XLE closes this Friday. Continue reading "Is This ETF Laying The Foundation For A Rally In Crude Oil?" →

How The Oscars May Affect The Way You Look At The Markets

Posted on by The INO.com Team

This past weekend I saw a great movie titled, The Imitation Game starring Benedict Cumberbatch and Keira Knightley, both of whom are nominated for Academy Awards, as is the movie itself.

The Imitation Game chronicles the life of Alan Turing, who is largely credited with developing the computers we use today. The story revolves around the incredible work that was done at Bletchley Park in England to break the German Enigma code. At the time, the Enigma code and machine were thought to be unbreakable. The breaking of this code helped shorten and end the war. Otherwise, I would be writing this post in German and not English (I was born in England right after WW2).

If you haven't seen the movie, I highly recommend seeing it and witnessing the extraordinary genius of a remarkable man named Alan Turing.

Why would I discuss and recommend a movie when MarketClub and INO.com are financial websites dealing with stocks and futures? The reason I bring this up is because I wanted to share with you some math today that can help you in the market.

Now don't worry this is not high-level mathematics, it has more to do with a remarkable sequence of numbers known as the Fibonacci sequence. Continue reading "How The Oscars May Affect The Way You Look At The Markets" →