Crude oil, grains, and metals higher on the day

With the weekend activity spurring some fear about new mid-east issues, crude oil continued its bounce back up towards the 80 dollar level. Two factors influencing that move are 1) the unrest in Iran 2) the Christmas Day Detroit Plane Incident in the US, and 3) the feeling that Russia’s comment that it would not take sides in an Iranian/ Israeli conflict, all combined to push these commodity markets higher.

Throw in thin holiday action and you have a recipe for a sharp up move. On the daily charts, March Corn had an impressive pop higher, with its high at 418 1/2, the 420 to […]

Grains bounce higher in Holiday trade

Soybeans, wheat and corn are all higher, mostly trading off of the weaker dollar, not to mention the fact that these are thin holiday markets.
Jan beans opened at 1012, posted a low at 1011 1/2, rallied to 1017 and is currently up 14 1/2 cents at 1014. Resistance to keep in mind is the 1021-1025 level. We recently went down and tested the support area at 985, only a few sessions ago.

March corn is up 5 1/2 cents at 414. CH opened at 415 1/2 posted a low at 413 3/4 and a high at 418 1/2.

March wheat opened at on its […]

Another Holiday Week, Small Craft Warning

Another short 4 day week ahead of us here in the US. The calender is pretty empty.
At this time of the year, my advice continues to be, go find something else to do besides trying to trade in these holiday markets.

Here in Chicago, we are right on Lake Michigan. On countless days, the radio advises “small craft warning” due to choppy, 3 foot plus waves. Once about ten years ago, I found myself on a friend’s boat during one of those warnings. Lake Michigan is no place to be in a 20 foot sailboat when the waves are 3 and 4 feet. Its […]

New Website Starting Dec 29th

On December 29th, I will be launching my new website, CERTRADERVOX.COM

There will be a link on that site to this blog for simplicity.

I have a whole lot planned for 2010 with this blog site.
It took me 4 months or so to work out some of the daily kinks, and also settle on a blog name that I liked.

CERTRADERVOX.COM will allow me more freedom to list interesting links, add my video links, as well as build a more responsive site for you the visitor.

As 2010 begins, I will be announcing new developments and partnership agreements for my advisory and brokerage business.


A quick recap, Stocks move to fresh 14 month high settlements

SP500 cash moved to a new 14 month high today at 1126.48. The Dow cash came within 25 points of a new 14 month high print, with today’s high at 10541, with the old high at 10,566.
More than likely, on Friday during the abbreviated session, we will blow through that.
I wrote before that there will be some pent up demand, especially at the first of the year. So many people I know, myself included, sold out portions of their stock holdings between Feb 09, and subsequently during the rally back to 10000. Many people I know and respect actually have been short, […]

I removed the ads

To my valued readers, I have decided to eliminate the ads on this blog. So far this has been a giant experiment to see what people would like.
Honestly, I had them on for about 3 months and I didn’t like the way they cluttered up the presentation.
So from now on, I will depend on organic traffic growth and word of mouth to spread the word about the value I can add to your trading operation or if you are a farmer, your marketing program.

Good Trading

Metals rally, Dollar breaks, and Crude Oil comes 1/2 way back.

The dollar index is retreating from it 3 month high on Tuesday when the index moved to the 78.54 level. Today’s low at 77.50 is basically a one point retreat.
Fast forward to the metals and we are seeing a bounce higher.
March Silver posted a high so far today at 1746, with a low at 1716. Feb gold has a high today at 11069, and a low at 10883.

Finally, we check out Feb crud oil. Today we have a high at 77.51, a nice bounce back from our lows just 8 sessions ago, just below 71. Not surprisingly, we are closing in […]

Grains Rest as Dollar retreats

So far today, we have typical choppy holiday trade this Christmas Eve Day session.
Wheat is the loser, so far, down 6 cents in WH at 523. The 525 strike price is attractin the trade today. In the Jan beans, SF is resting at the 1001 level, basically unchanged. And the March Corn, the darling of the longs, is up 1 3/4 cents at 406 1/2.

The trading ranges so far today are :
WH, High 525, Low 521, last 523.
CH, High 408, low 405 1/4
SF, High 1008, Low 998, last 1001

A ten cent range in SF, a four cent range […]

Christmas Eve Day Trade Stocks edge to new 14 month highs

The stock indexes today are bid, as we had some good econimic news, with jobless claims at 2009 lows, with a rise in durable goods orders.
The dollar had a mini correction from its recent rally and Tuesday’s recent 3 month high.
One point is not much of a “correction” but it has given a bounce to the metals and the crude oil.
Also, for now, the sell pressure has abated in the grain complex as well.

A quick recap of the Stock Indexes follows.

First, the Stock Indexes are giving us their best interpretation of a Christmas rally.

We are sitting at 14 month […]

Support levels for the metals and crude on the daily charts

With the recent rally in the dollar index, we have been on a quest to find the floor in the metals and crude oil.
Here are some levels to consider from a basic technical level.

In gold, we will start with the Feb contract. Only 13 trading days ago we were sitting at all time highs, looking at the 10250 level… How quickly we have dropped to our present levels, basically around the 1075 level with today’s 2 month low at 1075.20… On the charts, we have come back and tested what had been the upper RESISTANCE in October… So now we have the old […]