Tag: how to trade futures

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 December contract have traded lower for the 4th consecutive trading session at 14.55 an ounce continuing its bearish momentum as the U.S dollar is up 45 points trading off of a four week low. If you are short a futures contract place the stop loss above the 10-day high which was hit in Tuesday's trade at the 15.07 level as an exit strategy as it looks to me that we will retest the August 16th low of 14.40 soon as prices are still trading under their 20 and 100-day moving average as clearly the trend remains negative. Silver prices are stuck in a three-week trading range consolidating the recent sell-off in price. I still see no reason to own any of the precious metals as the U.S. stock market is hitting another all-time high this week. I'm also recommending a bullish S&P 500 trade which continues to roll along on a daily basis as money flows continue into U.S equities and out of the precious metals so stay short & place the proper stop loss. If you take a look at the daily chart, the downtrend line remains intact. However, if the 15.07 level is broken that will also be breached as then it would be time to sit on the sidelines while waiting for another trend to develop.
TREND: LOWER
CHART STRUCTURE: EXCELLENT
VOLATILITY: AVERAGE
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 prices in the September contract is currently higher by $0.28 at 14.82 an ounce after settling last Friday in New York at 14.63 trading higher by nearly $0.20 which has been a rarity for this market as the precious metals rallied across the board due to the fact that the U.S. dollar was down about 60 points today helping support prices. The commodity markets rallied this afternoon, and I think it was a relief rally as these markets have been getting pounded on a weekly basis except for the stock market which is near an all-time high once again today. I'm still not bullish silver prices, but if you take a look there is the possibility that prices may have bottomed out between the 14.30/14.50 level, but time will tell to see if that comes to fruition. Silver prices are still trading under their 20 and 100 day moving average as the trend remains negative as the downtrend line remains intact as this market goes in opposite directions from the U.S dollar as there is weak demand for this commodity. Gold prices are up over $20 today as that is also helping support silver as we are also experiencing oversold conditions in silver which has dropped about $3 over the last 2-months and if you are short a futures contract continue to place the stop loss at the 2-week high as a proper exit strategy. Volatility has increased as silver historically speaking is one of the most volatile commodities, but we have witnessed the classic bearish trend over the last couple of months as we grind lower on a daily basis.
TREND: LOWER
CHART STRUCTURE: IMPROVING
VOLATILITY: INCREASING
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 December contract is currently trading at 1,187 an ounce after settling last Friday in New York at 1,219 down about $32 for the week while trading as low as 1,167 in Thursday's trade before profit-taking took place pushing prices back up to today's levels. If you have read any of my previous blogs, you understand that I am bearish all of the precious metals across the board. If you are short, place the stop loss above the 10-day high which now stands at 1,226, however, the chart structure will not improve for another four trading sessions as I still believe we will retest major support around the 1,125 level in the coming weeks ahead. The U.S dollar is down about 30 points today trading lower for the 2nd consecutive session, but that remains in a bullish trend as that has been the main culprit for gold prices coupled with the fact that there is very weak demand and very little interest at the current time. Presently I am also recommending a bullish S&P 500 trade which is unchanged today but remains strong as money flows continue to go into U.S. equities & out of the precious metals. I see no reason to own gold and no reason to try and bottom fish and take a bullish position at this time as that would be counter-trend trading which is very dangerous in the long run. Silver prices this week also hit a contract low & remains weak as that is also putting pressure on gold as these trends are getting stronger on a weekly basis and I still think there is one more leg to the downside ahead.
TREND: LOWER
CHART STRUCTURE: IMPROVING
VOLATILITY: AVERAGE
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 settled last Friday in New York at 1,232 an ounce while currently trading at 1,224 down about $8 for the trading week while also hitting a fresh contract low earlier in the trading session today all the way down to 1,212 as this market remains bearish, but rallied off of a somewhat negative U.S. unemployment number. Gold prices are still trading under their 20 and 100-day moving average as this trend is to the downside and if you have read any of my previous blogs you understand that I am bearish gold and the precious metals across the board. If you're short, a futures contract continue to place the stop loss above the 10-day high which stands at 1,245 on the closing basis only as I still think the 1,200 level is broken possibly next week. The U.S. stock market is higher once again today as that is where money flows are headed and out of the precious metals. I see no reason to own gold as I still think historically speaking prices look expensive and I think we can trade down to the 1,125 level in the coming months ahead so stay short and continue to place the proper stop loss as today's slight gains were based on profit-taking only. Large hedge funds are short a record amount of gold contracts as they still believe lower prices are ahead as the volatility remains relatively low. However, I don't think that will last much longer.
TREND: LOWER
CHART STRUCTURE: SOLID
VOLATILITY: LOW
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 settled last Friday in New York at 1,231 an ounce while currently trading at 1,222 lower for the 2nd consecutive session continuing its bearish momentum as it looks to retest the July 19th contract low of 1,210 next week. If you are short a futures contract, continue to place the stop loss above the 10-day high. However, the chart structure will improve tremendously come next week; therefore, the monetary risk will also be lowered. I still see no reason to own gold at present. The GDP report was announced this morning as the U.S economy grew by 4.1% which is outstanding in my opinion coupled with the fact that the 10-year note is now yielding 2.97% as both of those fundamental indicators are bearish towards gold prices. The U.S. stock market continues to move higher on a monthly basis as the NASDAQ 100, and the Russell 2000 hit all-time highs as the money flows continue to go into the equity markets & out of the precious metals as I am currently recommending a bullish S&P 500 trade as that market is higher once again today. Gold is trading under their 20 and 100-day moving average as the short-term trend is to the downside as the volatility remains relatively low as I think we could crack the 1,200 level in next weeks trade so stay short as I'm certainly not recommending any bullish position as the trend is strong to the downside.
TREND: LOWER
CHART STRUCTURE: IMPROVING
VOLATILITY: LOW
Continue reading "Weekly Futures Recap With Mike Seery" →