Tag: 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.

Precious Metal Futures--- The precious metal futures this Friday afternoon were down sharply across the board due to the fact of the Fed minutes coming out yesterday stating that a possible end of the QE’s by the end of 2013 which sent the precious metals sharply lower with gold plummeting $24 today to trade right around $1,651 an ounce and at one point was down over $45 before profit taking set in continuing its bearish momentum hitting a fresh 4 month low trading far below its 20 and 100 day moving averages. Silver futures for the week are down around $.70 hitting a fresh 4 month low currently at 29.95 in the March contract also trading below its 20 and 100 day moving average with major support right around $28 an ounce and in my opinion I think the tide has turned in the precious metals in the short term and I see further weakness in the coming weeks. The one bright spot in the precious metals this week was copper in the March contract finishing higher by about 300 points for the shortened week trading above its 20 and 100 day moving average and on Wednesday the 1st day of 2013 hit a two-month high on the fact that the housing market is coming back strong along with economies around the world. 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.

Precious Metal Prices--- The precious metals this week were relatively quiet due to the fact that the fiscal cliff announcement comes out in just a couple of days keeping gold below its 20 and 100 day moving average right near a 4 month low trading right around 1, 655 down around $5 dollars for the week as traders are unwilling to stick their neck out before the December 31st fiscal cliff announcement while silver futures are still trading below their 20 and 100 day moving average down around 20 cents for the week as well with major support at 29.70 right near a 4 month low with traders being very cautious going into the holiday weekend. Copper futures were 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.

Currency Futures--- Currency futures had a very solid week against the U.S dollar with the Euro currency trading higher for the 5th consecutive trading session hitting an 8 month high trading far above its 20 and 100 day moving average with the next resistance at 134 currently trading at 1.3175 up another 87 point continuing its bullish momentum despite the problems in Europe people are feeling more confident about the fact that the European problems might be over at least in the short term. The Dollar Index has been lower 3 out of the last 4 trading sessions down this Friday afternoon by about 40 points trading far below 20 &100 day moving average which is always a bearish indicator in my opinion hitting an 8 week low with the next major support at 79.20 and then major support at the contract low which was hit on September 14th of this year at 78.95 on fears that the government is going to continue to print money here in the United States which is pressuring the dollar against all the foreign currencies in recent weeks. If you look at the Canadian dollar, Australian dollar, and the Mexican Peso they are all moving higher against the dollar while the Mexican Peso is actually making contract highs but the only currency that is not gaining on the U.S dollar is the Japanese Yen which continues to fall out of bed due to the fact that the Japanese government wants a lower Japanese yen although today finishing slightly higher but made new contract lows 5 straight trading sessions currently trading at 11995 and looking to continue its bearish momentum possibly down the 105 level in my opinion over the next couple of months. 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.

Energy Futures--- The energy futures this week experienced volatile trading especially in the January contract with heating oil finishing down 1500 points for the week which is around $6000 per contract trading below its 20 and 100 day moving average settling lower for the 5th consecutive trading session closing right around 2.9250 a gallon with the next major support at 2.80 a gallon and in my opinion I do believe heating oil prices are headed lower due to an extremely mild winter so far. There is a gap on the daily chart in the January contract at 2.90 I do believe that gap will be filled which is still about 250 points away and I do think it could head lower here in the short term. Unleaded gasoline is higher by about 90 points this Friday afternoon; however for the week were down around 100 points closing below its 20 and 100 day moving average with next major support at 2.53 a gallon which also is at a 4 month 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.

Precious Metal Futures-- The precious metals in New York this week are slightly lower ending on a negative note this Friday afternoon with gold down $1 dollars at 1, 714 an ounce, down $16 for the trading week still trading below its 20 day moving average of 1, 713 and still trading significantly above its 100 day moving average at 1, 682 still kind of stuck in a sideways trend. Gold futures are still 5% below the contract highs in the December contract which happened on 2/29/12 at 1, 801 an ounce and has been trading in the high 1600s the low 1700s for several weeks now despite the fact that there could be a fiscal cliff coming up in about 45 days which generally would push up prices as a flight to quality, however this week that was not the case as investors basically are selling everything. Silver futures for the week were only down about $.30 currently trading at 32.32 an ounce down about $.35 this Friday afternoon still stuck in a sideways non-trendy pattern while trading above its 20 and 100 day moving average and I’m advising traders at this point to sit on the sidelines in silver and gold because there really is no trend in sight. Continue reading "Weekly Futures Recap With Mike Seery" →