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The grains had a very choppy and frustrating day today.. We opened with ten cent moves in the first 2 minutes..Drifted to afternoon lows, and then trended sharply higher through the afternoon, led by an afternoon rally which had beans rally from 953 up to 973, then break 8 cents into the close on hedging to settle at 965 area.
In CZ, we had a trade between 391 and 381 in the first 2 minutes, drifted lower to 380 and then screamed higher from 380 up to a trading session high at 397…Some hedging on the close gave us a settlement around 394… In WZ, […]

All my commodities are in the red this morning. Corn Wheat and Beans, Soymeal and Soy Oil all are under pressure.
The USDA numbers came out, slightly friendly for corn, and slightly negative for beans and wheat.
We have already seen Jan beans test the 953 level this morning, and as I said before, longer term, it looks like we need to go down and test the 933 to 935 level, and if that doesn’t catch a bid, then 900 and 890 are definite possibilities…Above the market there is a trendlne resistance at 1014-18, but with the crop 75 percent harvested, Carry over raised back […]

Gold has a new high print at 1111.70 posted this afternoon…Silver was higher, but at 17.80, its still a bit off from its high ten days ago at 18.15…Crude Oil traded with a low at 7777 and a high at 80.19, settling at 79.30… I will probably see gasoline prices up ten cents on the way home… Like I’ve said before, the only people I know who watch markets closer than trader’s, long haul truckers,and Airline Executives, have to be the owners of the gas stations in my area..

I looked at a weekly chart in the Dow Futures. The weekly major low last March […]

We had another new high this morning in Gold at 1111.70, we have also seen SPZ hug the trend-line I pointed out to you several posts ago..Its always nice to have the right technical analysis as you look for trades…SPZ is currently flirting with the 1085 level, with the contract within a stones throw of its old high at 1099…If the SPZ can pop above 1100 with a strong increase in volume, then we should see continued short covering rally fueled by frustrated new longs who missed the rally up from last March Lows… As the year ends, money managers will be dressing up their […]

I can’t imagine this is a bullish item. I took a break this morning and surfed the cable shows. One I use as a reverse indicator (I will not be specific for fear of issues)…
It seemed to me that I could have closed my eyes and imagined I was back in 2004…Talk of Buyouts and Mergers and Acquisition, Interviewing stock analysts on buyout targets…Apparently, we are going to whistle through the grave yard, hoping that the rally holds…
It makes me just hesitate a little, because generally, those shows are lagging indicators.
I wrote last week about how at the BOTTOM last March, at […]

I can’t imagine this is a bullish item. I took a break this morning and surfed the cable shows. One I use as a reverse indicator (I will not be specific for fear of issues)…
It seemed to me that I could have closed my eyes and imagined I was back in 2004…Talk of Buyouts and Mergers and Acquisition, Interviewing stock analysts on buyout targets…Apparently, we are going to whistle through the grave yard, hoping that the rally holds…
It makes me just hesitate a little, because generally, those shows are lagging indicators.
I wrote last week about how at the BOTTOM last March, at […]

Wow, turned on the screen this morning and every commodity I follow and both stock indexes are sharply higher..
The Dow is above 1100 currently, the SPZ is at 1080, hugging that Trend Line I wrote about yesterday…
Jan beans had a 20 cent rally last night, trading to a low at 951 with a high at 971…I would look for that trading range to be explored today…We may see a short covering rally after so much selling went on last week, however, it still looks like the bears are in control and eventually want to go test the 900 level some time in the […]

January Soybeans Have 2 trend lines to be aware of on the longer-term daily charts.
The first is a bearish one… The first point to mark for the trend line is the Jun 12th high at 1105… The second point is the Aug 13th High at 1066, and the third point is the Oct 23rd high at 1029 1/4 and the fourth point is last Thursday’s high, Nov 4th at 1022 1/2 … It projects out with resistance all this week at the 1018 level…In fact, I had thought we would have broken higher last Thursday Morning… once we traded up to that trend-line, but […]

Please take a look at a daily chart of SPZ09…There are three key points which, together, provide a nice long-term bull trend line…First is Mar 06/09 low at 6775. Second is Jul 13/09 at 8615 and Third is Oct 2/09 at 1012… Connect these three and it projects to a trend line intersection today at the 1080 level which should be good resistance, then again at 1096..
Corresponding Points in the DJZ (Dow futures) are the following… Mar 02/09 low at 6808…July 13 low at 7970 and the Oct 2 low at 9334… Currently we are above that trend line as of last Friday’s settle…Its […]

Gold Settled Higher today at 1094.50….It did, however, get the 1,100 print on the tape. The actual high print was 1,101.90 Congratulations to whoever did that momentous trade…Now for the foreseeable future we will be listening to prognostications for certainly 1,500, then 2000 then the Mythical 3,000 an oz gold… At that point, I wonder if shotgun shells and canned goods may be worth more than an oz of gold…

Interestingly, Crude Finally de-coupled moving to a settlement at 77 and change, 5 dollars lower than it all time high at 81.99 posted just ten sessions ago..
Stocks rebounded after exploring a healthy trading range… […]