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.
10-Year Note Futures
The 10 year note in the June contract settled last Thursday in Chicago at 129 7/32 while currently trading at 130 12/32 trading higher 4 out of the last 5 trading sessions as I’ve been recommending a bullish position from around 129/25 as I think interest rates in the United States are going lower which is an amazing thing to state. Worldwide interest rates in many different countries have gone negative which is the first time in history that has happened as I think the world is chasing interest rates and at 1.77% the U.S still looks expensive in my opinion so play this to the upside as I’m looking to add more contracts once the chart structure improves, therefore, lowering monetary risk. If you took the original recommendation place your stop loss below the 10 day low which currently stands 128/20/30 as the chart structure will not improve for another 4 days as you will have to be patient with the monetary risk as I think prices will retest last month’s high around 132/16 as the bullish trend remains intact in my opinion. Continue reading "Weekly Futures Recap With Mike Seery" →