Tag: weekly futures recap

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.

Precious Metal Futures—The precious metal futures ended lower this Friday afternoon with gold finishing down about $7 an ounce at 1,322 after settling last Friday at 1,293 up about $30 for the week which is pretty solid and I have been recommending buying gold when it broke out to a 4 week high above 1,302 and I still think gold has more room to run on the upside but make sure you do place a stop loss at the 10 day low if you are long the futures contract to try & minimize risk in case the trend does change. Gold futures are right at the uptrend line and if that is broken I think prices could head up to $1,400 here in the next month but I would be very suspicious & doubt if it has any more legs to pass those levels. The U.S dollar has been down substantially in recent weeks and that is helped push gold and silver prices higher as well as many hedge funds have taking profits on their short positions in recent weeks. Continue reading "Weekly Futures Recap W/Mike Seery" →

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.

Precious Metal Futures-- The precious metals had one of the best weeks to the upside in quite some time because of statements from Ben Bernanke coming out basically stating he’s going to continue QE3 forever which put the fire under gold prices up 4 days in a row before Friday as profit taking set in down about $3 at 1,277 an ounce after settling last Friday 1,212 now trading at 1,278 above its 20 day moving average but below its 100 day moving average and now has started to form  excellent chart structure with a possible bottom being formed in recent weeks hitting a 3 week high in yesterday’s trade. I have been bearish gold and the precious metals for quite some time but I’m recommending to sit on the sidelines with a possible break out to the upside which is pretty amazing as I’ve been bearish forever but the trend can change very quickly so I’m looking at gold to the upside if it breaks out above 1300. Silver futures for the September contract are right at their 20 day moving average but below their 100 day moving average also at a 3 week high also developing excellent chart structure settling last Friday at 18.73 up around $1.00 this week currently going out around 19.78 an ounce and if you’re looking to get long this market I would buy a futures mini contract and place a stop below the contract low risking around $1500 per contract. Continue reading "Weekly Futures Recap W/Mike Seery" →

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.

Precious Metal Futures-- The precious metals this week traded in a very tight trading range which is very unusual because these are volatile commodities with gold trading in a 3 week range as exchange traded products were reduced for the 17th consecutive week pressuring prices once again, however this Friday prices rallied about $9 at 1,387 ounce in the August contract. Prices for the week were up very slightly but my opinion I still believe prices are headed lower in gold at this point in time especially with a pessimistic commodity market and very weak dollar which has not propelled prices higher and that has been very concerning if you are bullish because once the dollar starts to rally again you could see some heavy pressure in the gold market coming weeks. Silver futures are still trading below their 20 & 100 day moving average with great chart structure settling last Friday at 21.74 an ounce settling right around $22 this Friday afternoon up slightly for the week but still right near 2 ½ year lows and I’m still recommending a short position due to the fact of terrific chart structure allowing you place a stop at 10 day high which is at 21.75 currently risking around $750 per contract if you trading the mini contract. Continue reading "Weekly Futures Recap W/Mike Seery" →

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 closed higher today with November soybeans up 25 cents to finish on the highs of the trading session at 13.30 a bushel all due to a sharply weaker U.S dollar this week with planting problems as well. Corn futures for the December contract were higher by 11 cents currently trading at 5.59 a bushel after filling the gap at 5.40 yesterday which I stated I thought prices would come back down and fill that important price level but corn still remains choppy. I am bearish the new crop soybeans & corn because I do think this weather is good for crop conditions in the long run with the weather improving in the Midwest with warmer temperatures and no rain in the forecast for several days. What a difference a year makes as last year we were basically 95° almost every single day while this year is extremely wet and cold which could push prices lower in my opinion. Continue reading "Weekly Futures Recap W/Mike Seery" →

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--- Grain Futures--- The grain market saw extreme volatility this week especially in the July soybeans which were up over $.50 yesterday hitting a high of 15.46 then reversing and settling unchanged settling today at 14.76 a bushel down 23 cents and has sold off 75 cents in 2 days and that tells me that there’s a possibility that this could be short term high. The November soybeans which I have talked about in previous blogs stating if prices are able to break above 12.40 a bushel hitting a 6 week high continuing its bullish trend I would advise traders to buy soybeans above that level risking $12 stop which is around $400 per mini contract as the trend continues to move higher. The U.S dollar today was slightly lower not impacting many of the commodities today except for a selected few with a really wishy-washy trend and I still think July soybeans are headed higher despite the fact of the tremendous selloff happening in the last 2 days & I think that was just profit taking and there are very few supplies to be sold and that’s the reason prices are headed higher in my opinion. Continue reading "Weekly Futures Recap W/Mike Seery" →