May 19, 2011
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Sideways Ranges show lack of direction and future opportunities on Crude Oil and Gold
Wednesday afternoon we got the Fed’s Meeting Minutes (report here) and it basically told us what we already know. The Fed intends to improve its monetary policy over the next few years, it will likely raise interests early in 2012 (if not sooner), and they said it will take ‘years for the balance sheet in […]
Continue reading May 19, 2011
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Three Clues from Crude Oil Futures before 1030 Inventories
We notice a triple threat today: People waiting for 1030am crude oil news People waiting for 2pm Meeting Minutes Crude Oil rollover is today/tomorrow 800am EST This is off our morning prep from this morning The Dollar inside the lows of a price wedge Gold is also in a very narrow price wedge Crude Oil […]
Continue reading May 18, 2011
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Trade the News Market Internals Update
***Looking Ahead*** – 10:30 (EU) Sweden Central Bank Gov Ingves speaks at EU Conference in Brussels – 11:00 (US) Fed to purchase $1.5-2.5B in Notes/Bonds – 11:30 (BR) Brazil Mar Economic Activity Index M/M: No est v 0.3% prior; Y/Y: No est v 7.0% prior – 14:00 (US) Minutes of FOMC Meeting – 19:50 (JP) […]
Continue reading May 18, 2011
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Inside Trading Day vs. Outside Trading Day
– Inside vs. Outside Trading Days o Inside = trading inside the range from yesterday § Nothing has changed from one day to the next, so use the current trading ranges as your highs and lows § It may never leave the range § It may break the highs/lows of the prev day’s range and […]
Continue reading May 18, 2011
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Geithner speaks, Dollar drops, Crude and Gold POP off Tuesday’s Lows
We begin our day this morning looking at the Dollar index taking a plunge overnight after hearing Secretary Tim Geithner confirm that the US has “reached its debt level” and that focus will be on ‘lowering debt levels gradually” Traders will certainly be anxious to hear more from the Fed later today when they release […]
Continue reading May 17, 2011
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Should I buy the lows or sell this retracement on Gold?
830am ET – We begin our day with the dollar index – We see a bullish channel with a price wedge – We call this a ‘bull wedge’ – We know how to trade a bull wedge, but this is the DOLLAR, so we use this as a correlation tool – Rising prices make up […]
Continue reading May 17, 2011
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Trade the News Market Internals Update
***Looking Ahead*** – 11:00 (US) Fed to purchase $5-7B in notes/bonds – 11:30 (US) Treasury to Sell 4-Week Bills – 16:30 (US) Weekly API Energy Inventories – 17:00 (CO) Colombia Mar Trade Balance: $150.0Me v $362.6M prior 10:30 AM Market Internals update at 10:30ET – NYSE volume 190M shares, about 10% below its three-month average; […]
Continue reading May 17, 2011
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Day Trading in the DEAD ZONE, profit from low volume moves
– Why do we watch CAD news? o Canada is a large exporter of Crude o I use the site ForexFactory.com to find the most important CAD-related news – Big money Trigger Line (BMT) o Tells us where to take profit o Tells us where to avoid entry o The BMT is considered the center […]
Continue reading May 17, 2011
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Narrow trading ranges calm before the storm in crude oil and gold markets
‘We are what we repeatedly do. Excellence, therefore, is not an act, but a habit’ – Aristotle Crude Oil and Gold Futures continue to trade in narrow sideways ranges this morning as they look for clues towards the future direction of prices. Looking at the Dollar Index, Crude Oil and Gold Futures this morning you […]
Continue reading May 16, 2011
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Bear Channel Great Buying Opportunity on Crude Oil
830am est – We’re seeing very sloppy and slow markets this morning – We had 830am news that barely moved the markets we trade most – We know that Monday’s are always a little slower to being, so we take our time, getting into the rhythm of the hour/day/week and we wait for the best […]
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