Tag: Guest Bloggers

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.

Gold Futures

Gold futures in the April contract settled last Friday in New York at 1,330 an ounce while currently trading at 1,326 down about $4 for the trading week. However, its currently trading up $18 as money flows are coming out of the equity market and into the precious metals as a flight to quality. I'm not involved in gold as this market remains reasonably choppy in my opinion as we did hit a two month low in yesterday's trade as the chart structure is very poor which tells you that the monetary risk is too high to enter into a bullish or bearish position. Gold prices are still trading under their 20 and 100-day moving average as the short-term trend is the downside with a possible double top created around the 1,365 level. I still see choppiness ahead so avoid this market at the current time and look at other stronger trends that are developing. The U.S. stock market has dropped about 1200 points over the last four days as that's what is finally starting to support prices. The U.S. dollar hit a six week high in yesterday's trade, and that is also keeping a lid on prices here in the short-term. I will wait for a better chart pattern to develop before entering into a position. If you take a look at the daily chart there is major support around the 1,300 level as in yesterday's trade we traded as low as 1,303, and I suspect that will be strong support in the weeks ahead.
TREND: MIXED
CHART STRUCTURE: POOR
VOLATILITY: SOLID
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.

10-Year Note Futures

The 10-year note in the March contract is currently at 120/23 trading higher for the 2nd consecutive session after settling last Friday in Chicago at 120/18 having a hard time cracking through the 120/00 level was that had been tested on multiple times only to rally. I've recommended a bearish position on several contracts over the last several months, and if you took the trade, the stop loss come Monday's session will be lowered to 121/07 as the chart structure is outstanding due to low volatility. The 10-year note is currently yielding about 2.86% as it is unable to crack the critical 3% level in recent weeks. However, I remain bearish as I think this is just the calm before the storm and I still believe higher interest rates are coming. The U.S. stock market is higher this Friday afternoon, and generally, that sends a bearish tone towards the bond market. But not in today's case as we will await next Friday's monthly employment number which should send high volatility back into the bond sector so stay short & continue to place the proper stop loss and let's see what Monday's trade brings. The 10-year note is still trading far below its 20 and 100-day moving average as the trend is still to the downside despite the recent rally over the last couple of days as I will be looking at adding another short position if the 120/00 level is broken possibly in next weeks trade.
TREND: LOWER
CHART STRUCTURE: EXCELLENT
VOLATILITY: LOW
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.

Silver Futures

The silver price for the March contract settled last Friday in New York at 16.13 an ounce while currently trading at 16.76 up about 60 cents for the trading week due to the weakness in the U.S. dollar also coupled with a higher than expected CPI inflation report sending silver prices near a two-week high. I'm not involved in silver & if you have read my previous blogs, you understand that longer-term I am bullish silver as I think its extraordinarily cheap and if you're not a trader but an investor I still think prices will head into the $20 level later this year. Silver prices are still slightly below their 20 & 100-day moving average as this market really has been choppy over the last six months with very little trend. I think that will change as I will not take a short position as I do think the downside is very limited. The U.S. dollar hit a three-year low this week as that is helping keep a floor under silver prices and many other sectors, but for the bullish momentum to continue prices have to crack the 17.50 level as the volatility is starting to increase and should become more violent down the road. Growth in the United States and worldwide is coming back as the tax cuts will certainly push the economy higher in my opinion coupled with the fact of the massive infrastructure plan which is going to help lift commodities. I do think almost all asset classes will continue to climb as the stagnant economy is behind us the 1st time in nearly a decade.
TREND: MIXED
CHART STRUCTURE: POOR
VOLATILITY: INCREASING
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.

Gold Futures

Gold prices in the April contract are currently trading at 1,319 an ounce after settling last Friday in New York at 1,319 as the U.S. stock market dropped 10% in a matter of days. Generally speaking, that sends gold prices much higher, but not in this case as the precious metals continue to go lower. The U.S. dollar is the main culprit to this phenomenon as its higher once again today as investors are buying the dollar and selling all assets including the metals as silver and platinum continue to move lower coupled with the fact that copper has absolutely fallen out of bed this week. If you take a look at the daily chart gold prices bottomed out on December 12th at 1,242 while then topping out on January 25th at 1,370 and the 50% retracement stands around the 1,306 area. I think that will be tested in next week's trade as I am currently not involved in any of the precious metals. Gold is trading below their 20-day moving average, but slightly above its 100-day as we are right near a five-week low as investors don't want to own anything at the current time. It looks to me this could continue next week as well. However, there is panic going on at present as there will be very good buying opportunities in the coming days ahead.
TREND: MIXED - LOWER
CHART STRUCTURE: POOR
VOLATILITY: INCREASING
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 futures recap of the 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.

Natural Gas Futures

Natural gas prices experienced a wild trading week after settling last Friday in New York at 3.17 in the March contract while now trading at 2.89 down about 28 points for the week. I was recommending a bullish position from around the 3.13 level getting stopped out in yesterday's trade as prices are now at a three-week low. I had also been recommending a bullish position in the February contract as we had to roll over into the March giving back some of the gains that we witnessed. I'm now sitting on the sidelines waiting for another trend to develop as the trend has turned negative. Natural gas prices are trading under their 20 and 100-day moving average as the volatility has exploded with extremely warm temperatures last week which sent prices down. However, colder temperatures are upon us as this market looks to be choppy so avoid for now & look at other markets with a better risk/reward scenario as the volatility will remain high in February. However, the spring season is almost upon us. At the present time I do not have any recommendations in the energy sector as I still remain bullish as natural gas prices still are cheap, but does not meet my criteria to enter into a trade so I will be patient and wait for the chart structure to improve, but I do think prices to the downside are limited.
TREND: LOWER
CHART STRUCTURE: POOR
VOLATILITY: HIGH
Continue reading "Weekly Futures Recap With Mike Seery" →