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Monthly Archives: June 2011

June 29, 2011

Fear pushes commodities higher; OPEC threatens Crude Supply & Dollar Tumbles

——————————————————————– All eyes are on crude oil futures this morning as OPEC threatens cutting its supply of crude oil after the IEA told us they would release more reserves to help lower prices of this ‘black gold’. News this morning has crude oil prices rising on the fear that less supply will lead to higher […]

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June 28, 2011

Trade the News Market Internals Update

***Looking Ahead*** – (FR) France Net Change Jobseekers: -10.0Ke v -10.9K prior; Total Jobseekers: No est v 2.669M prior – (AR) Argentina May Supermarket Sales Y/Y: No est v 16.4% prior – (US) Weekly API Energy Inventories 10:30 AM Market Internals update at 10:30ET – NYSE volume 155M shares, about 17% below its three-month average; […]

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June 28, 2011

IEA threatens OPEC; Rollover Fears in the Euro have Gold Rising; Traders prepare for Home Prices & Manufacturing Data this morning

———————————————— News overnight has OPEC and the IEA back in the spotlight.  If you recall last week IEA authorized the release of Oil Reserves to help drive more supply into the crude oil market, and overnight we hear news from the IEA that they are leaving the door wide open for more of these ‘strategic’ […]

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June 27, 2011

Trade the news Market Internals update

***Looking Ahead*** – (GE) German Chancellor Merkel Host dinner for China’s Wen Jiabao – 11:00 (US) Fed’s Kocherlakota speaks on leverage in Big Sky, Montana – 11:00 (US) Fed to purchase $4-5B in Notes/Bonds – 11:30 (US) Treasury to sell $27B in 3-Month and $24B in – 12:00 (EU) ECB’s Stark speaks at event in […]

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June 27, 2011

Double-Tops & Double-Bottoms

What are they?  Double-Top:  when buyers fail to break new highs twice.  The first test completely fails, and then we try a second test that also fails. Double bottom:  when the sellers try and fail, and then try a second time and fail again. How to find them? Look for the candlestick WICKS to be […]

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June 27, 2011

Crude Oil Looks for Clues as Gold tests the Lows of its range ahead of a busy week for day traders around the Globe

Rumors are flying this morning about the value of commodities, giving traders plenty of opportunity to trade this week. Not much more than talking heads over the weekend talking about the lack of supply on crude oil, possible releases of more reserves by the IEA, and Gold is looking quite vulnerable at the lows with […]

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