Tag: Futures

Weekly Futures Recap With 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 a wild trading session this Friday afternoon in New York and an extremely volatile week with prices fluctuating on news about the fiscal cliff coming out basically hourly for the last couple of days sending prices sharply lower with silver this afternoon in the December contract trading at 33.36 down around $1.16 after making new highs in yesterday’s session and for the 3rd straight day having a $1 dollar move up or down still trading above its 20 and 100 day moving averages and in my opinion I think you will see extreme volatility going into the last days of December due to the fact of the nonsense that is going on in Washington DC while gold futures are down $19 this afternoon in the December contract trading at 1, 709 still stuck in a trading range unable to breakout from this recent trading range with the contract highs in gold at 1,801 which was hit in February and in my opinion I still think the precious metals are headed higher despite today’s activity. Continue reading "Weekly Futures Recap With Mike Seery" →

Weekly Futures Recap With 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 in New York this week are slightly lower ending on a negative note this Friday afternoon with gold down $1 dollars at 1, 714 an ounce, down $16 for the trading week still trading below its 20 day moving average of 1, 713 and still trading significantly above its 100 day moving average at 1, 682 still kind of stuck in a sideways trend. Gold futures are still 5% below the contract highs in the December contract which happened on 2/29/12 at 1, 801 an ounce and has been trading in the high 1600s the low 1700s for several weeks now despite the fact that there could be a fiscal cliff coming up in about 45 days which generally would push up prices as a flight to quality, however this week that was not the case as investors basically are selling everything. Silver futures for the week were only down about $.30 currently trading at 32.32 an ounce down about $.35 this Friday afternoon still stuck in a sideways non-trendy pattern while trading above its 20 and 100 day moving average and I’m advising traders at this point to sit on the sidelines in silver and gold because there really is no trend in sight. Continue reading "Weekly Futures Recap With Mike Seery" →

Weekly Futures Recap With 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 had extreme volatility across the board with gold higher 4 out of the last 5 trading sessions trading up another $5 coming off of session highs on profit taking currently trading at 1,732 an ounce rallying nearly $60 dollars in 5 days as a flight to quality has happened with the stock market falling out of bed this week as investors are flocking into gold as well as the United States treasuries. Gold futures for the December contract are higher than their 20 and 100 day moving average at this point right at a two-week high just after hitting a two month low last Friday as traders pour into the precious metal once again continuing its long-term bull market and short term choppiness while silver futures were also up 4 of the last 5 trading days and at a two-week high today after nearly hitting a two month low last Friday afternoon finishing down about $.95 and is now trading above the 20 day moving average which was 32.11 currently up $.40 today at 32.60 an ounce in a sideways to choppy market and in my opinion I thought silver futures were headed lower due to the fact of slower demand but gold prices continue to push up silver prices at this point in time so I have no recommendation for silver or gold. Copper futures which I have been very bearish in all my previous blogs and still remain very bearish with copper down another 300 points at 344.30 a pound right at two-month lows hitting major support while still trading far below its 20 and 100 day moving average on economic worries overseas curbing demand which is pushing copper prices near support at this point in time. Platinum futures for the January contract are near a two-month low trading at 1, 544 an ounce up around $10 an ounce this morning basically unchanged for the trading week still trading below its 20 day moving average of 1,580 but above its 100 day moving average still stuck in a sideways trend in my opinion I don’t like trading markets that go sideways so wait for a break out occurs before I enter this market on the short or long side. Continue reading "Weekly Futures Recap With Mike Seery" →

Weekly Futures Recap w/Michael 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 this week saw high volatility across the board especially on this Friday afternoon with many commodities selling off sharply today putting pressure on the soybeans in the January contract finishing down only 11 cents at 15.35 a bushel up around $.13 for the trading week right near the 20 day and 100 day moving averages which is at 15.51 a bushel and in my opinion if prices break those levels on heavy volume the lows might be in the soybean market. Corn futures for the December contract were one of the few commodities today that were actually higher trading at 7.61 a bushel right near a four week after last Thursday’s bullish report has propelled corn prices at the upper end of the trading range. That corn is far above their 20 and 100 day moving average which suggests to me in my opinion that prices are headed towards the $8 dollar level with wheat having a very solid week up $.18 and on this Friday afternoon closing higher by $.3 at 8.71 a bushel breaking its 20 day moving average which was at 8 .70 and well above its 100 day moving averages which looks to me that it is going to rally along with corn and the oat market. Wheat futures for the December contract are down about 7% from the high which was a July 23, 2012 at 9.53 a bushel which was during the summer drought. In my opinion I believe the soybeans are in a bottoming process after dropping over $2.50 from recent highs due to harvest pressure as well as a major slowdown in China sending many of the grain prices off of their summer highs with better than expected yields coming in putting a lid on prices at this point, however about 75% of the soybean crop is harvested which means most of the harvest pressure has finished. Traders are now focusing on the November 9th crop report and the weather in South America with the growing season underway receiving beneficial rains and normal temperatures which means the crop is off to a solid start which could be a record producing year in Brazil and in Argentina. Continue reading "Weekly Futures Recap w/Michael Seery" →

Weekly Futures Recap W/Michael Seery

Posted on by The INO.com Team

We’ve asked Michael Seery of SEERYFUTURES.COM an IB of Peregrine Finanial Group 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 Busines, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show. Continue reading "Weekly Futures Recap W/Michael Seery" →