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I did a quick look at the charts and picked out the following resistance levels, as it seems most of these commodities tonight are heading higher.
In the crude oil, I would think of selling 80.40, 80.88 and then 81.67.
In the Jan Beans, 1058, 1063 and then 1068.
In the Dec Wheat, 572 1/4, 584, and then 585.
In the Dec Corn 409 1/2 and then 413 1/2
For the stock indexes, resistance would be the following;

DJZ, there are two points 10412 and the 10427
SPZ, there are two as well, 1108.50 and 1,112.25

All of these levels are major points on the […]

Its Sunday Night and the screen is Blue, Blue, Blue. Gold; New high at 1,162.50 Silver; New High at 18.70 Corn Wheat and Beans Higher… SF pops through the resistance at 1050 and jumps up to 1056 for a high so-far…A low at 946 3/4 gives us an 11 cent range so far for the night and we’ve only been open for 20 minutes. SF is up 7 1/2 cents. CZ is one cent higher at 393 1/4 and Wz is up 3 cents at 562.
These grains will move in sync with the Crude which is up at 78.14 up 50 cents.

Continued weakness […]

Wow, its 2 am, and I just finished re-spell checking and editing a lot of my first 100 or so posts. I didn’t realize that I had been doing a spell check, and then not saving it properly before I published the entry.

I really hate miss spelled words and poor grammar. Its a pet peeve of mine. If you the reader are going to take the time to read my entries, the very least I can do is provide an easy reading experience.

I hope in the future, there will be better content, better style and more enjoyable reading for you to enjoy and […]

Wow, its 2 am, and I just finished re-spell checking and editing a lot of my first 100 or so posts. I didn’t realize that I had been doing a spell check, and then not saving it properly before I published the entry.

I really hate miss spelled words and poor grammar. Its a pet peeve of mine. If you the reader are going to take the time to read my entries, the very least I can do is provide an easy reading experience.

I hope in the future, there will be better content, better style and more enjoyable reading for you to enjoy and […]

Just a quick note of thanks to my current subscribers. I began this blog about six weeks ago. I started keeping track of visitors and subscribers only about a month ago. So far, the growth has been promising, with an initial viewership of about 5 a day, I am averaging 40 a day, or about 300 a week.
Small beginnings, but with your support and help hopefully I will be able to contact more interested readers with good thoughtful content, insight into certain trading formations, market moves, with specific ideas as well.

My first job, while I was learning to trade back in the Mid-America […]

Today we had an impressive settlement, as Gold fought off earlier weakness to settle at 1,115.20, a new all-time high settlement. For the day we opened at 1,145 posted a high at 1,151.50 and a low at 1,132.50 for a 20 dollar trading range.
Silver opened at 18.54 posted a high at 1859.5, a low at 1803.5, and a settlement at 1805.0.

Moving on to the Stock Indexes, we had a nice recovery, once again, as the markets mimicked Thursday’s action. The Bears pounded on the stocks early, couldn’t get any follow through, and spent the rest of the day selling 30 tick breaks, only […]

All the contracts I look at are in the red this morning, except for the lone bull, Jan Beans. These beans look bound and determined to explore the space above 1050… The contract has pretty much dis-associated itself from the crude oil. For about a year, we moved in sync with crude, but for the past several weeks that direct relationship looks to be more of a passing connection currently.
Crude is down 70 cents at 76.65 currently while Jan Beans are up 6 cents at 1045, zoning in on the over night’s session high print at 1050.
There is a very strong tendency […]

I listened yesterday to the radio after the close. By accident I happened to listen to the nightly business report and just noticed how inherently bearish the reporting can be. Yesterday the Dow “had a rough day” closing over 100 points lower. We have rallied 4000 points off of the most frightening down move we’ve seen since 1987 or 1932, yet a 100 point down move when the index is between 10000 and 10300 is reported as “a gigantic down day”. Seems no one in the reporting business has a concept for percentage moves anymore.
Also, a cursory observation of trading ranges in the stock […]

Both the DJZ and SPZ stock indexes rallied back after sharply lower moves. At one point the Dow Futures were close to 150 points lower but displayed a nice 100 point comeback to end the day lower but not nearly as low as it had looked.
ON the Charts, there is support in the DJZ at 10,111, 10,011 and 9912, if the bears can sink their teeth into this rally and really give the bulls some pain.
In the SPZ, we have a Nov 16 high at 1112.25, and a double bottom on the daily charts at 1026 on Nov 2 and Nov 3. Looking […]

Its 1243 CST and this is my afternoon update.

We have seen bounces back from our earlier lows in the grains as well as the stock indexes.
Currently, Jan Beans has a day session low at 1024, and a day session high so far at 1048 1/2. An impressive rally off of overnight weakness where we had a low print at 1016. 32 cent range equals volatility in any one’s book. The high so far is 1/2 cent away from yesterday’s high at 1049. No doubt there will be some activity if we can pop above the strike price at 1050. Above 1050 there is […]