Tag: seeryfutures.com

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

Silver futures in the September contract are settling around 20.40 an ounce finishing down about $.25 for the trading week while still trading below their 20 but above their 100 day moving average hitting a 5 week low and if you are currently bearish silver I would sell at today’s price while placing my stop above the 10 day high which is 21.12 risking around $.50 or $2,500 per contract as the chart structure is outstanding currently. Many of the commodity markets are going lower because of the U.S dollar hitting a 6 month high against the Euro currency as I think that trend is going to continue here in the short term. The volatility in silver is extremely low at the current time and I would assume with all the worldwide problems that volatility will start to increase however prices still look weak in my opinion as the Federal Reserve is cutting back on the quantitative easing which is also a negative influence on precious metals prices as the fundamentals currently are neutral to weak.
TREND: LOWER
CHART STRUCTURE: EXCELLENT

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

Silver futures in the September contract finished the week down about $.30 to close this Friday at 20.60 ending on a positive note up about $.18 closing right near session highs as the trend is now lower hitting a 4 week low so I’m neutral this market sitting on the sidelines waiting for another trend to develop, however if you are bearish I would sell at today’s price of 20.60 while placing my stop loss above the 10 day high which was on Monday’s trade at 21.32 risking around $.70 for $3,500 per contract as the chart structure currently is very solid. I’ve was recommending a long silver futures position when prices broke above 20.02 in late June while getting stopped out last week at the 10 day low as prices have broken down as the Malaysian airliner crisis has settled down as deflation currently is in the air not inflation as the U.S dollar continues to rally against the Euro currency as many of the commodity markets have been heading lower. Silver futures are trading below their 20 but still above their 100 day moving average telling you that trend currently is mixed and if you’re not looking to sell at today’s price level I would sit on the sidelines and trade another market that has a stronger trend.
TREND: MIXED
CHART STRUCTURE: 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.

Silver Futures

Silver futures in the September contract rallied $.35 cents this week as tensions between Israel and Hamas have sent prices to 4 month highs at 21.48 with the next major resistance at $22 as I’ve been recommending a long position when prices hit a 4 week high breaking above 20.02 about 3 weeks ago so continue to place a stop below the 10 day low as the chart structure is outstanding as that level currently stands at 20.82 risking around $.70 or $3,500 per contract at these price levels. Silver has been going higher in recent weeks as this commodity has solid demand due to electronics and many other products that currently use silver and if you’ve been following any of my previous blogs for the last several months I thought prices were extremely cheap especially compared to the rest of the commodity markets so continue to be long while placing your stop at the 2 week low as prices are trading above their 20 and 100 day moving average telling you that the trend remains higher.
TREND: HIGHER
CHART STRUCTURE: EXCELLENT

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 futures in the August contract went out on a sour note this shortened holiday trading session down $12 at 1,318 reacting negative to the U.S jobs report which came out at 288,000 new jobs as the economy is improving as the S&P 500 hit all-time highs once again today as the money flow is coming out of gold and into equities and that has been this precious metals problem for quite some time as there is not a lot of demand for gold currently. I am sitting on the sidelines in this market but I have a couple of trading recommendations if you are bullish gold and think prices will continue to move higher buy at today’s price of 1,318 place your stop below the 10 day low of 1,305 risking $1,300 per contract and if you’re bearish gold and think that its finally topped out you would sell at today’s price while placing your stop above Tuesday’s high of 1,335 risking $17 or $1,700 per contract as the chart structure has become very tight in the last 2 weeks. As I’ve talked about in previous blogs I do believe the stock market will continue to move higher and I believe that gold here in the short term still looks negative in my opinion unless something crazy comes out of Iraq.
TREND: MIXED
CHART STRUCTURE: EXCELLENT

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 futures in the August contract basically finished unchanged for the trading week with very little volatility trading at 1,319 still right near a 3 month high and if your currently bullish this market I would buy a futures contract at today’s price while placing my stop below the 2 week low which currently stands at 1,260 risking around $6,000 per contract, however that chart structure will improve dramatically in the next couple of days as volatility has really slowed down as we enter the Fourth of July holiday weekend. I am currently sitting on the sidelines in this market as I’m waiting for better chart structure to develop which is already currently happening and if you’re looking to get short this market I would sell at today’s price while placing your stop above today’s high of 1,325 an ounce risking around $600 per contract as if prices break that level to the upside I would have to think the trend has definitely turned bullish. Gold futures are trading above their 20 and 100 day moving average as the chaos in Iraq is certainly propelling prices in recent weeks as gold had a bearish trend for quite some time actually hitting 1,240 earlier in the month so I’m not totally convinced where prices are going to and that’s why I’m sitting on the sidelines.
TREND: HIGHER
CHART STRUCTURE: IMPROVING

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