Blog Archive

The Stocks took a powder through the afternoon after looking strong through the morning. With the market sitting at these nine month highs, it won’t take much for the bears to go on a hunting trip and try to set off a big correction as an early Christmas Present. Considering how much the Stock indexes have rallied from the July lows alone, the perma bears are bound to be correct one of these days. SPZ has rallied over 230 handles from its July lows at 865 to today’s high at 1,116.80

DJZ has rallied 2500 points from the July 8050 level to Wednesday’s high at […]

Gold shot up to a new record high at 1226.40 I keep seeing this pattern, as we move up the line. It looks like every 25 dollars there will be a “new” target hit, followed immediately by a ten to 15 dollar retracement lower.
SPZ also defied logic and the bears arguments and posted a new high at 1116.80. Again, there is no justification for this rally, yet it keeps creeping higher. December in general is a month where the seasonal trends predict a rally. The market is vulnerable to a sharp correction at any time, which is why we are creeping higher. Traders sell […]

Gold shot up to a new record high at 1226.40 I keep seeing this pattern, as we move up the line. It looks like every 25 dollars there will be a “new” target hit, followed immediately by a ten to 15 dollar retracement lower.
SPZ also defied logic and the bears arguments and posted a new high at 1116.80. Again, there is no justification for this rally, yet it keeps creeping higher. December in general is a month where the seasonal trends predict a rally. The market is vulnerable to a sharp correction at any time, which is why we are creeping higher. Traders sell […]

Gold posted a high at 1217.3 and settled 16 dollars higher at 1215.60 a new all time high settlement. Silver posted a high at 19.42 and a new all time high settlement at 19.24. The train just keeps motoring along, higher and higher. Aside from last Thursday night’s flush lower, these metals remain trending higher. Fundamentally, its the US dollar scenario playing out. The world is telling us it thinks the Dollar has not seen its lows as of yet. Although the US dollar ended higher today by 25 ticks. Crude was off 2 dollars.

Both the Stock indexes had lack luster trade considering the […]

The Dow futures finally got the 10505 print out. When we couldn’t explode higher above that round number, that was the first sign that the rally was a head-fake. In the SPZ contract, we printed a high at 1115.50. We then promptly broke 11 handles back down to the 1104 level. The DJZ also melted almost a hundred points lower, as the bears took profits after selling into the new highs.

In the metals, the day is still young, and while there has been some profit taking, they remain higher on the day. Gold spiked to a high of 1217.30, and then moved back to […]

Gold posted a high at 1217.30 and Silver left a high print at 19355. Other than that, the markets were a sideways chop last night. Jan Beans traded through a ten cent range between 1053 and 1063. Wheat and Corn had smaller ranges but basically, uneventful.
Continue to watch the US Dollar index and the Crude for some hint today of where we may be trading. Crude is currently down slightly trading at 7786. For now it looks like the 73 to 78 dollar range is our trade parameter for Crude. A break out above or below that range would be worth watching.
Today […]

US Stock indexes remain sleepy at 1230CST. I always look at markets before I go to bed, and tonight, the only stand out feature is the metals. Gold and Silver continue to rally.
Gold has posted a new high at 1215.4 and ditto for Silver at 19.355. While we are in virgin territory for the metals, the pattern of 15 to 25 dollar jumps in the gold, with much smaller incremental moves in the Silver point towards this trend marching on.
When will it be near to an end? Most likely when Time or Newsweek magazine has a front cover story about the metals. […]

You have to use stops to limit your risk. However, beware there are trading robot-worms, what ever you want to call it, which seek out stops. I believe they take a trading range, and then calculate where the average trader is either long from or short from. There are people who have asserted that there are artificial intelligence programs which mimic human behaviour, and then the computers are programmed to go to those stop points. The points are arbitrary, and most likely the result of a complex logarithm, but I would have to argue that they are there, lurking in the shadows.
I cant’ […]

Gold traded to a record high today at 1202.7 and a record high settlement at 1196.50

Ditto for silver, as we had a high print at 1926.0 and a record high settlement at 1910.

The Stock Indexes posted new 9-month highs, as the general feeling was one of continued short covering after last Thursday night’s panic sell-off.
SPZ was unable to get the 1112.00 print out, posting its high at 1111.75. DJZ also couldn’t quite get the 10500 print out, instead posting a high 6 ticks below it at 10494. SPZ settled at a new 9 month high settlement at 1108.75, 3 handles off the […]

All of the grains made new highs today, and the in the last 5 minutes of trading gave up all of the earlier gains and settled lower on the day.
January soybeans traded to a high at 1078 1/2 and broke 20 cents to finally settle down 2 cents at 1058. December corn posted a high at 406 1/4 and then broke 9 cents late in the day to settle down 5 cents at 397 1/2. Finally, the December wheat potsed a high at 576 1/4 then broke 15 cents to settle down 5 cents on the day at 562 1/2. All together, a bearish […]