Author: The INO.com Team

Oil above $98 as protests rock Egypt government

Posted on by The INO.com Team

The price of oil advanced past $98 a barrel Tuesday, underpinned by political unrest in Egypt that raised fears of disruption to global crude supplies.

By early afternoon in Europe, benchmark crude for August delivery was up 37 cents to $98.36 a barrel in electronic trading on the New York Mercantile Exchange. The contract jumped $1.43 to close at $97.99 on Monday.

After massive weekend protests in Egypt that continued Monday, the country's military issued an ultimatum to President Mohammed Morsi that gives him 48 hours to meet the demands of the millions who have taken to the streets seeking his ouster.

The ultimatum, rebuffed by Morsi, raised worries on both sides the military could outright take over, as it did after the 2011 ouster of autocrat Hosni Mubarak. It also raised the risk of a backlash from Morsi's Islamist backers, including his powerful Muslim Brotherhood and hard-liners, some of whom once belonged to armed militant groups. Continue reading "Oil above $98 as protests rock Egypt government" →

Today's Video Update: Apple files for the iWatch trademark in Japan

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Monday, the 1st of July.

Apple Files For a iWatch Trademark in Japan!
Shares of Apple jumped almost 4% on news that it had filed for a trademark in Japan. This is the best upside performance for Apple in over a week. Apple inturn is helping the NASDAQ gain for the day as well as helping the other indices.

The Strong Trend For Crude Oil Persists
Crude oil moved to its best levels in eight days and it appears poised to challenge the $99 a barrel level. Should this market move over that resistance point I can easily see this market quickly move to the $100 a barrel level. Continue reading "Today's Video Update: Apple files for the iWatch trademark in Japan" →

Gold Chart of The Week

Posted on by The INO.com Team

Each Week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (July 1st through July 5th)

The second quarter of 2013 came to a close with a decent rebound in the US Stock Indexes. A three day up-move was the result of favorable consumer spending, housing, and unemployment numbers. Despite the move up, it was not an easy week to predict market movement, nor was it a week to feel comfortable in a trade for more than a half day. This is because last week’s schedule of economic reports was punctuated daily by FED Members that now have the ability puppeteer global markets with one interview. Even though the FED decided to keep rates unchanged and maintain their Bond buying on a monthly basis (QE), the interviews that followed the decision had the potential to negate the initial response to the rate decision. Last week required the attention of traders each day as one FED Member after the next was asked about their thoughts on whether or not Ben Bernanke and Co. would begin to scale out of QE sooner or later. My opinion is that the scaling back has already begun. Continue reading "Gold Chart of The Week" →

Weekly Futures Recap W/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.

Grain Futures--- The grain market sold off sharply in the new crop grains with November soybeans down $.24 at 12.51 a bushel hitting new 4 week lows as outstanding weather in the Midwest is pressuring prices with the USDA crop report coming out stating that this is the 3rd highest acreage in history at 76.1 million acres up 1% from last year and as I’ve been recommending in many previous blogs to continue to sell the soybeans I do believe prices are headed sharply lower from these levels. Soybean prices in the November contract are trading below their 20 and 100 day moving average settling right at session lows this Friday afternoon in Chicago and I do believe you will see further weakness next week as generally the Fourth of July weekend is the top in the grain market. July soybeans hit a new contract high of 15.74 finishing up about $.16 as the spread between old crop and new crop hit a new high today as supplies are very small in the July contract and could be very large in the November contract in a couple of months. Continue reading "Weekly Futures Recap W/Mike Seery" →

Today's Video Update: Fibonacci Had It Right!

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Friday, the 28th of June.

Fibonacci Had It Right!
The recent recovery from the lows seen in the DOW at 14,548 retraced exactly to the Fibonacci points that I laid out in Wednesday's video. For the DOW that number was 15,041, the S&P retracement came in at 1,618 and the NASDAQ came in at 3,414. Continue reading "Today's Video Update: Fibonacci Had It Right!" →