Gold has worked down from Alexander's time... When something holds good for two thousand years I do not believe it can be so because of prejudice or mistaken theory.
Bernard M. Baruch
Crude will close off its intra-day highs but the key will be if we can get a settlement above the 9 day MA; in August at $97.60. A trade above $99.50 we should hit out target of $102/103 shortly after. The immediate direction will likely be paved buy outside market influence i.e. equities and the dollar. We’re suggesting buying dips and bullish exposure NOT selling rallies and bearish exposure. Day four of the natural gas acceleration as a rounding bottom is left in the rear view mirror all it ...
August Crude has advanced nearly $7/barrel in just over the last week but the next hurdle will be the 40 day MA at $98. On a settlement above $98 we see little in the way of resistance until $102. The resiliency in the distillates should keep Crude moving higher in the short run…in my opinion. Natural gas closed lower by 3% today near its lowest level in one week. As long as $4.18 holds on a closing basis in August we still suggest bullish exposure. Our favored play with clients has been purchasing ...
In the immediate future what comes out of Greece will be the driving force in the markets. August Crude gave up 2% today and is nearly $10 off levels from just over one week ago. Aggressive clients have light long exposure and are carrying losses and we will not be adding positions until we see an inter bottom. Clients own about 50-60% of the ultimate long we want to own but from about levels $5 higher. Those not willing to buy a standard futures could buy a mini or sell calls against their futures ...
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