In the blink of an eye, we have reached the middle of the year, and it’s time to see how our third Pendulum experiment worked out.
I’ll start with the poll results from 6 months ago that show your bets.
Graph courtesy of INO.com
The majority of you bet on Silver, and you won as you can see in the chart below. It looks like the Nikkei index is not your star whatsoever. Continue reading "Pendulum Experiment No.3: An Early Victory!"
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.
Cotton Futures-- The cotton market continues its downward trend finishing lower for the 9th consecutive trading session in New York breaking major support at 78 currently trading at 76.65 trading below its 20 and 100 day moving average hitting a new 10 month low and in my opinion prices are possibly heading down the 70 in the next several weeks. The problem with cotton as with many of the soft commodities as there is very little demand at this time continuing to pressure prices & I recommended selling this market when it broke 82 and this has been successful trade at this point but remember to place your stop above the 10 day high in case the trend changes but I do believe prices are headed substantially lower as harvest is progressing on a daily basis bringing in more and more supply. The chart structure in cotton when prices broke out at 82 was outstanding risking around $1,200 at that time so I hope some people are listening out there and continue to stay short as prices are still expensive in my opinion. TREND: LOWER –CHART STRUCTURE: EXCELLENT Continue reading "Weekly Futures Recap W/Mike Seery"
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.
Cotton Futures-- Cotton futures for the December contract was down sharply this week settling at 83.11 last Friday down over 375 points this week in New York continuing its bearish momentum after breaking down at 82 last week currently trading at 79.30 basically unchanged this Friday afternoon. Prices are still trading below their 20 and 100 day moving average hitting a 9 month low & I’m still recommending a short position placing your stop above the 10 day high which at the time was about a $1200 risk but at today’s current price is around $2,500 remembering cotton is a very large contract. In my opinion it looks that cotton prices will retest the 78 level possibly even heading lower as there is weakening demand & excellent crops around the world pushing up supplies at this time despite the fact that the U.S dollar hit a 1 1/2 year low having very little effect on cotton prices at this time. The USDA will come out with crop estimates next week and it’s been quite some time for fresh news to appear due to the government shutdown and that should guide short-term price direction. TREND: LOWER –CHART STRUCTURE: EXCELLENT Continue reading "Weekly Futures Recap w/Mike Seery"
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.
Cotton Futures-- Cotton futures for the December contract settled last Friday at 87.18 finishing down nearly 400 points this week with all the damage being done on Mondays trade as the tropical storm which was expected to possibly hurt the cotton crop pushing prices higher but the storm amounted to very little sending prices on Monday down 300 points as harvest continues here in the United States with poor chart structure at this time. The trend in cotton now is to the downside trading below its 20 & 100 day moving average; however the 10 day high is too far away right now so I’m advising traders to sit on the sidelines and wait for some better chart structure to develop as the commodity markets have turned negative in my opinion. The grain market continues to weaken and that also could put some pressure on cotton prices in the short term. TREND: LOWER –CHART STRUCTURE: TERRIBLE Continue reading "Weekly Futures Recap w/Mike Seery"
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 continues its extreme volatility especially in soybeans up another $.40 this Friday right near contract highs at 13.26 a bushel all due to the fact that the crop is not very good despite heavy rains across much of the Midwest yesterday especially in Illinois but production in Iowa is dismal with a worse crop than the 2011 floods and the 2012 drought which is absolutely astonishing in my opinion, and it looks to me that these prices are headed higher. As I’ve stated in previous blogs the trade that is been working is to be long soybeans & short corn and wheat and its working again as the real strength is and soybeans as corn is still going to have a terrific crop and if wheat could talk it would bark that’s how big of a dog this market is only up $.04 today at 6.44 only $.05 away from making new contract lows as the fundamentals in wheat are much different than in soybeans. Corn futures are up $.06 at 4.71 basically going nowhere in recent weeks after Thursday’s debacle down $.19 due to the heavy rains and it looks to me that corn and wheat will remain weak for quite some time as the possibility of soybeans continuing towards the $14 mark looks pretty good and if you look at soybean meal prices they have hit contract highs once again as massive demand for that product continues to prop up prices towards historical highs. Continue reading "Weekly Futures Recap w/Mike Seery"
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