Tag: risk management

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 February contract witnessed another extremely volatile trading session with another $20 trading range currently trading up $4 at 1,188 after trading as low as 1,167 earlier in the session as the U.S dollar hit another multiyear high pressuring many the commodity prices, however bottom feeders appeared thinking that gold was overdone to the downside. Gold futures are trading below their 20 and 100 day moving average as I am currently sitting on the sidelines in this market waiting for better chart structure to develop as the market is just too volatile in my opinion, however if you are bearish this market I would sell at today’s price while placing my stop above the 10 day high which currently stands at 1,210 risking around $23 or $2,300 per contract plus slippage and commission as the chart structure is relatively solid at the current time. Gold futures remain in a long-term downtrend as investors are still putting money into the S&P 500 and out of the precious metals especially with a strong U.S dollar which looks to head higher in my opinion and with worldwide problems cooling down especially with Russia there’s really no reason to own gold at the current time.

Gold futures traded over the last 2 months in a price range between $1,140-$1,240 and now around mid-range so I’m waiting for a trend to develop as traders are waiting next Friday’s monthly unemployment report which should send even more volatility into this market so make sure if you are in the futures market that you use the proper amount contracts risking 2% of your account balance on any given trade as this market is high risk.
TREND: LOWER
CHART STRUCTURE: EXCELLENT Continue reading "Weekly Futures Recap With Mike Seery" →

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 February contract are trading below their 20 and 100 day moving average settling last Friday in New York at 1,222 currently trading at 1,196 continuing its long-term bearish trend as I’m currently sitting on the sidelines in this market as volatility is too high and the price remains extremely choppy as we head into the new year. Gold prices rallied as high as 1,240 last week before settling back despite the fact that the stock market had a wild ride but the interest still is in the S&P 500 which looks like it’s going to close right near another record high today. The problem with the gold market is the ETF market in gold might be sold come year end for tax purposes and when that happens the ETF than has to sell the futures contract so I still think lower prices are ahead but this market is difficult to trade at the current time so move on and find a market that is trending strong in one direction. The U.S dollar hit another multiyear high which is generally pessimistic commodity prices and especially precious metals prices, however with turmoil in Russia gold prices have been extremely volatile with many $30/$40 price ranges on any given day so if you do trade this market make sure you place the proper amount contracts limiting risk to 2% of your account balance as I have to admit it’s fun to watch but I remain on the sidelines until a true breakout occurs. Rumors of Russia having to sell some of their gold reserves sent gold prices down nearly down $30 in Wednesday’s trade however that rumor has not been verified at the current time but with the problems in Russia it would not surprise me about anything.
TREND: MIXED
CHART STRUCTURE: POOR Continue reading "Weekly Futures Recap With Mike Seery" →

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 February contract settled last Friday around 1,190 while currently trading at 1,223 this afternoon near a 6 week high as I’ve been recommending to sit on the sidelines in this market as volatility is way too high and the risk is also way too high in my opinion, however it does look to me like a bottom has been placed here in the short term with gold spiking from the 1,140 level last week and then rebounding around 100 dollars in the last 7 trading days which is incredibly impressive as the stock market is sharply lower this afternoon sending money back into the gold and precious metal sector. Gold futures are trading above their 20 but still below their 100 day moving average telling you that the trend is lower as I will remain neutral as the chart structure is awful at this time, however if you do think gold has bottomed my recommendation would be to buy at today’s price level while placing your stop loss below 1,186 risking around $37 or $3,700 per contract plus slippage and commission but the risk is too high & does not meet my criteria so I will wait for better chart structure to develop but I have to admit its sure fun to watch.
TREND: HIGHER
CHART STRUCTURE: AWFUL Continue reading "Weekly Futures Recap With Mike Seery" →

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 February contract are down $16 this Friday afternoon in New York currently trading at 1,192 an ounce after settling last Friday at 1,175 with huge volatile this trading week with Monday’s trade going as low as 1,140 before rallying sharply hitting a 4 week high as the volatility is as high as I’ve ever seen it due to the fact that crude oil prices have plummeted coupled with a strong U.S dollar as I’m neutral this market and I’m advising traders to sit on the sidelines and look for another market with better chart structure with less risk. Gold futures are trading above their 20 but below their 100 day moving average telling you that the trend is mixed and I do believe that gold prices will continue to head lower as money flows will continue to head into the S&P 500 which is hitting another record high today but the volatility is too high and the risk/reward at the current time is not in your favor in my opinion. The month of December in recent years has been bearish as ETF selling in the gold has put pressure on prices as investors want to take a tax break on losing trades before the end of the year and I think that will continue this year as well as I still see no reason to own gold at the current time.
TREND: MIXED
CHART STRUCTURE: AWFUL Continue reading "Weekly Futures Recap With Mike Seery" →