Reversal dates for the week of February 6 through February 10
Posted on Friday, February 3rd, 2012 at 11:52 am by John in Reversal dates
Monday – RBOB gas,Australian dollar
Tuesday – Soybeans
Wednesday -
Thursday – Hogs, Wheat, Heating oil, S&P
Friday – Soybeans
Market alert! – Long March Wheat approaching median line target objective!
Posted on Wednesday, February 1st, 2012 at 8:44 am by John in Grain Markets, Median lines, Trading News
TMV Swing Trade report – Long March Wheat from $6.58 – Wheat prices surged out of the bullish reaction swing and are quickly approaching the the target objective where the upward sloping median line intersects the down sloping reaction line. I look for the market to pause at this level and possibly pullback. Therefore, I recommend a target objective at $6.80 1/4 or higher.
March Wheat - click to enlarge
Reversal dates for the week of January 30 through February 3.
Posted on Friday, January 27th, 2012 at 10:50 am by John in Reversal dates
Monday – Silver, Gold, Japanese yen
Tuesday – Soy meal
Wednesday – Bean oil, Coffee
Thursday – Wheat
Friday – Corn, Crude oil, Heating oil
Market Alert! – Long March Corn target objective has been changed.
Posted on Thursday, January 26th, 2012 at 9:43 am by John in Futures Commentary, Grain Markets
TMV Swing Trade report – Long March Corn from $6.08 1/2 – The target objective has been lower to $6.45.
Crude Oil Advances as Fed Commits to Low Rates, Durable Goods Orders Gain
Posted on Thursday, January 26th, 2012 at 9:01 am by John in Energy Markets, Futures Commentary, Trading News
Oil is trading higher for a second day after the Federal Reserve announced it plans to keep U.S.interest rates near a record low through 2014 and as a report showed durable goods orders in the world’s biggest crude-consuming country increased.
Futures advanced above $100 a barrel after Fed Chairman Ben S. Bernanke said yesterday that policy makers are considering more bond purchases to boost growth after extending a pledge to keep interest rates low through at least late 2014. Bookings (DGNOCHNG) for goods meant to last at least three years climbed 3 percent in December, data from the Commerce Department showed today…..http://www.bloomberg.com/news/2012-01-26/crude-oil-advances-as-fed-commits-to-low-rates-durable-goods-orders-gain.html
Wheat Climbs to Three-Week High as Russia May Slow Shipments on Low Supply
Posted on Thursday, January 26th, 2012 at 8:59 am by John in Grain Markets, Trading News
Wheat advanced to a three-week high in Chicago as Russia may slow shipments of the grain with supplies for exports down. Corn and soybeans gained.
Wheat stockpiles held by farmers in Russia’s main exporting regions in the south have dropped below last year’s levels, declining as much as 50 percent in some areas, SovEcon, a Moscow-based agricultural researcher, said yesterday. The country banned exports in August 2010 after its worst drought in half a century. The ban was lifted in July…..http://www.bloomberg.com/news/2012-01-26/wheat-climbs-for-sixth-days-as-dwindling-russian-supply-may-boost-demand.html
Market Alert – Short March Crude oil closed.
Posted on Wednesday, January 25th, 2012 at 11:53 am by John in Trading News
TMV Swing Trade Report – Short March Crude oil from 98.60 – Exit price 98.27 – Crude dipped early in the session, but found support at the intra-day median line. I felt the market should have shown more weakness than it was showing, therefore elected to exit the position.
Market Update! Stop change for the short March Crude oil.
Posted on Tuesday, January 24th, 2012 at 1:01 pm by John in Trading News
TMV Swing Trade report – Short March Crude oil from 98.60 – The stop loss should be lowered to 99.45.
Commodities – Record U.S. Beef Sales Seen as Japan Reviews Curbs on Cattle
Posted on Tuesday, January 24th, 2012 at 9:20 am by John in Futures Commentary, Livestock
February Cattle are currently trading 120 higher @ 125.77
U.S. farmers, poised to ship record beef cargoes for a second straight year, may get a further boost as Japan, once their biggest overseas customer, considers easing trade curbs imposed after an outbreak of mad-cow disease.
Sales to Japan may jump 43 percent to 202,100 metric tons, the most since 2003, should the restrictions end in the second quarter, Global AgriTrends, a Denver-based research company, estimates. The government may raise the age limit on cattle slaughtered for beef to 30 months from 20 months about the middle of the year, according to Keiko Yamaguchi, executive director of consumer equity research at Nomura Securities Co. in Tokyo…….http://www.bloomberg.com/news/2012-01-24/record-u-s-beef-sales-seen-as-japan-reviews-curbs-on-cattle-commodities.html
Market Alert! – Time to exit short March Coffee.
Posted on Monday, January 30th, 2012 at 11:55 am by John in Futures Commentary, Soft Markets
TMV Swing Trade report – Short from 216.70 – Coffee traded through the 217.00 support, but appears to have found new support at 215.00. I was only looking for a short-term price swing in Coffee and I think it may have already given it to us. It time to exit the short position and post a small gain.
March Coffee - 30-minute chart - click to enlarge