Tag: Futures Trading

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 settled last Friday in New York at 1,161 an ounce while currently trading at 1,135 down about $25 for the trading week retesting prices that we haven't seen since early February as this bearish trend is getting stronger to the outside on a weekly basis. I am currently sitting on the sidelines as the chart structure never met my criteria to enter into a short position as I was actually looking at a bullish position in silver but prices dropped dramatically, so I avoided the trade as I'm currently looking at a possible short position in the copper market. Gold prices settled last year at 1,065 still up about $75 or about 6% for the year & traded as high as 1,387 on July 6th as that is how far prices have fallen all due to a strong U.S dollar. Continue reading "Weekly Futures Recap With Mike Seery" →

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 settled last Friday at 1,177 while currently trading at 1,162 an ounce down about $15 for the trading week after hitting a 10 month low on December 5th at 1,158. However, the trend remains bearish as I think this is just a kickback from oversold conditions. Gold prices are still trading below their 20 and 100 day moving average telling you that the short-term trend is lower as bearish fundamentals continue to send money out of this commodity as higher interest rates here in the United States and a strong U.S dollar continue to keep a lid and put pressure on this market here in the short-term. I am sitting on the sidelines in this market as the chart structure has been very poor for several months as prices collapsed right after the Trump election and have not looked back as I'm currently looking at a possible bullish position in silver, but gold still looks to have another leg down in my opinion. At present, I'm also recommending a bullish position in the S&P 500 as it seems to me the higher the equity market goes the lower the gold market goes as I think that trend will continue for the rest of the holiday season which still has 3 weeks left. Continue reading "Weekly Futures Recap With Mike Seery" →

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 settled last Friday in New York at 1,181 an ounce while now trading at 1,175 hitting a fresh 8 month low as prices continue to move southward on a weekly basis as I am kicking myself as I am not short, however, I have not been picking a bottom either. At present, I'm telling investors to avoid this market, but certainly, do not be buying this commodity as I do believe lower prices are ahead as I'm still very bullish the U.S dollar and the stock market as a whole since both of those are negative towards gold prices. The 10-year note today broke 2.40% which is the highest yield since January and I do believe interest rates are going higher which is not another negative influence towards gold prices. Continue reading "Weekly Futures Recap With Mike Seery" →

Copper Has Exploded With Trump's Win

Posted on by Aibek Burabayev

Aibek Burabayev - INO.com Contributor - Metals


It looks like we can name the top beneficiary of Mr. Trump’s win.

Chart 1. 1-Month Futures Relative Performance: Copper Is Unrivaled As Trump Favors Infrastructure

Copper Futures Performance
Chart courtesy of finviz.com

It’s amazing that the ultimate gainer during the final election period is the metal, not the stock index or currency. Besides that in the top three, there is another metal – palladium, which is also an industrial metal (used in catalyst for the automotive industry). In the past month, which was hot and dramatic, copper topped the ranking with a +17% gain as the U.S. dollar only scored a +4% gain and the S&P 500 scored even less with a +2% gain.

I think that every shift in the White House gives people hope for positive change. Copper buyers are hoping that the new president will fix the country's aging infrastructure system, which requires an enormous amount of copper and other industrial metals to be procured. "Rebuild the country's infrastructure; nobody can do that like me, believe me," he said. Giant projects require huge expenses; Mr. Trump pledged to spend up to $500bn upgrading roads, railways, airports and bridges across the US. That’s it; it was enough for the speculators, mainly from China, to lift the price of the metal.

Is this euphoria going to continue? Let’s look at the chart below for answers. Continue reading "Copper Has Exploded With Trump's Win" →

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 finished sharply lower for the 3rd consecutive trading session after actually hitting a high of 1,338 in Tuesday's trade as panic filled the air due to the Trump presidency only to sell off sharply now trading at 1,222 an ounce. The stock market hit another all-time high once again this week. Gold prices are currently at a 5-month low and I've been sitting on the sidelines in this market as gold has been remarkably choppy over the last 6 months. I'm currently recommending a bullish position in silver. However, stock prices look very cheap especially with the new administration lifting regulations and fixing the tax code coupled with the fact that Obama care is finally going to be relinquished. That is very bullish for stock prices, so investors are liquidating gold at the current time. Gold prices look very weak in my opinion as silver and copper are two totally different commodities that have actual industrial use and could go higher. Continue reading "Weekly Futures Recap With Mike Seery" →