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.
Energy Futures--- Energy futures in New York today are mixed with crude oil trading far below its 20 and 100 day moving average bouncing off of 8 week lows earlier in the day but finishing near session highs at 91.82 up 30 cents with the next major support at $87 with the sequester over last weekend and major budget cuts for defense department traders are thinking that demand will be significantly less and that is the reason why you’ve seen a $9 drop in crude oil in just a matter of weeks while April heating oil which has been in an absolute free-for-all except for Tuesdays 600 point rally but down about 50 points today currently trading at 2.97 a gallon with major support at 3.90 which has been hit 3 times in the last 6 months and rallied significantly but with the winter coming towards an end heating oil demand might start to weaken. Continue reading "Weekly Futures Recap W/Mike Seery"→
The September Dollar was lower due to profit taking in overnight trading as it consolidates some of last week's rally. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off June's low, June's high crossing at 84.00 is the next upside target. Closes below the 20-day moving average crossing at 82.49 would temper the near-term friendly outlook. First resistance is Tuesday's high crossing at 83.65. Second resistance is June's high crossing at 84.00. First support is the 20-day moving average crossing at 82.49. Second support is the reaction low crossing at 81.56. Continue reading "Currency Commentary for Wednesday"→
If you have then you know it is a pain at the pump for everybody in America. But the real pain is something most middle Americans don't even know about, and I'm not even talking about the 47% of the country that does not pay taxes. No, I'm talking about the people who do pay taxes and work their butts off to make a living.
Like a lot of Americans, I am not a happy camper and I am not happy with the incredible misdirection this country is going in with its spend, spend, spend policies. I'm not sure what its like in your house, but in mine if we can afford something, we can afford something, but we don't have the luxury of printing money by the truckload to spend beyond our means. The main problem is, these spending policies are only going to further weaken our economy.
This afternoon Pres. Obama is to make a speech explaining how we're supposed to get out of this mess - or how it is often described by this current White House - "potential financial Armageddon." In my opinion if there are not significant spending cuts, we're going to see a lot of pressure on the market. Unfortunately I think this speech will probably be long on rhetoric and short on details. That seems to be the style in Washington these days.
Today's guest is Chris Vermeulen, but most people know him as simply, "The Gold And Oil Guy". Chris has been trading for over 10 years, fine tuning his trading strategy year after year and continually improving timing, entry and exit points as the market evolves. Chris's latest strategy allows him to take advantage of intraday price action without even looking at intraday charts! I thought this was an interesting concept and wanted to share it on the Trader's Blog. Be sure to comment with your thoughts and visit Chris at TheGoldandOilGuy.com.
Most traders just don’t have the time to track the market on an intraday basis. Crazy thing is, I found a way that takes advantage of the intraday price action while never needing to look at a single intraday chart. Now we can swing trade using the daily charts but get the added performance of watching the intraday chart price action. What also makes this strategy exciting is that it works with virtually any time frame, though each time frame and investment vehicle will require its own custom settings in order to track properly.
I call this strategy a Momentum Trend Crossover. It’s based on 2 moving averages that use intraday, day, or intra-bar price action to calculate its value. Also, a Donchian channel to track recent highs/lows for protective stop placement.
The risk and sheer volatility of the forex market can be enough to scare away new comers. As with anything a good education is essential to be successful. Today Mike from FxMadness.com is going to cover the basics of forex pairs. Be sure to check it out and comment with your own forex experiences.
For most people starting to trade Forex, this market is synonymous with the US Dollar. It can be bought and sold against just about any currency on earth, traders are familiar with the so called "majors". It really is no surprise. After all this handful of currency pairs are most popular, quoted and widely known. They are also available on all trading platforms and the first ones new market participants usually try their hands on. Continue reading "Trading Currency Crosses..."→