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 a 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.

Crude Oil Futures

Crude oil futures in the April contract settled last Friday in New York at 35.92 while currently trading at 38.90 a barrel up around $3 for the trading week continuing its bullish momentum as prices have now hit a 9 week high. Crude is trading above its 20 day but right at its 100 day moving average as the trend is still relatively mixed in my opinion as the commodity markets in general have all bottomed out as volatility certainly has come back into the currency market pushing the commodity markets like a yo-yo in recent weeks. Continue reading "Weekly Futures Recap With Mike Seery"

Weekly Futures Recap W/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.

Cotton Futures-- The cotton market continues its downward trend finishing lower for the 9th consecutive trading session in New York breaking major support at 78 currently trading at 76.65 trading below its 20 and 100 day moving average hitting a new 10 month low and in my opinion prices are possibly heading down the 70 in the next several weeks. The problem with cotton as with many of the soft commodities as there is very little demand at this time continuing to pressure prices & I recommended selling this market when it broke 82 and this has been successful trade at this point but remember to place your stop above the 10 day high in case the trend changes but I do believe prices are headed substantially lower as harvest is progressing on a daily basis bringing in more and more supply. The chart structure in cotton when prices broke out at 82 was outstanding risking around $1,200 at that time so I hope some people are listening out there and continue to stay short as prices are still expensive in my opinion. TREND: LOWER –CHART STRUCTURE: EXCELLENT Continue reading "Weekly Futures Recap W/Mike Seery"

Weekly Futures Recap w/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.

Cotton Futures-- Cotton futures for the December contract was down sharply this week settling at 83.11 last Friday down over 375 points this week in New York continuing its bearish momentum after breaking down at 82 last week currently trading at 79.30 basically unchanged this Friday afternoon. Prices are still trading below their 20 and 100 day moving average hitting a 9 month low & I’m still recommending a short position placing your stop above the 10 day high which at the time was about a $1200 risk but at today’s current price is around $2,500 remembering cotton is a very large contract. In my opinion it looks that cotton prices will retest the 78 level possibly even heading lower as there is weakening demand & excellent crops around the world pushing up supplies at this time despite the fact that the U.S dollar hit a 1 1/2 year low having very little effect on cotton prices at this time. The USDA will come out with crop estimates next week and it’s been quite some time for fresh news to appear due to the government shutdown and that should guide short-term price direction. TREND: LOWER –CHART STRUCTURE: EXCELLENT Continue reading "Weekly Futures Recap w/Mike Seery"

Weekly Futures Recap w/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.

Cotton Futures-- Cotton futures for the December contract settled last Friday at 87.18 finishing down nearly 400 points this week with all the damage being done on Mondays trade as the tropical storm which was expected to possibly hurt the cotton crop pushing prices higher but the storm amounted to very little sending prices on Monday down 300 points as harvest continues here in the United States with poor chart structure at this time. The trend in cotton now is to the downside trading below its 20 & 100 day moving average; however the 10 day high is too far away right now so I’m advising traders to sit on the sidelines and wait for some better chart structure to develop as the commodity markets have turned negative in my opinion. The grain market continues to weaken and that also could put some pressure on cotton prices in the short term. TREND: LOWER –CHART STRUCTURE: TERRIBLE Continue reading "Weekly Futures Recap w/Mike Seery"

Weekly Futures Recap w/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.

Cotton Futures-- Cotton futures in New York this week continued their bullish trend settling last Friday at 86.63 going out this Friday at 87.47 about 85 points higher hitting a 6 week high and still trading above its 20 and 100 day moving average which I consider a bullish technical indicator. I have been recommending buying cotton futures in the December contract last Friday when it broke out above 85.80 but cotton is very large contract with heavy risk so trade only 1 contract while placing a stop below the 10 day low at 84.07 risking around $800 per contract at the time if you are wrong and the trend changes to the downside. The chart structure in cotton is excellent at this point which has allowed you to place a tight stop if you’re looking to get involved into this market, however traders are keeping an eye on next week’s crop report which definitely will have an impact on short-term price direction as I still do believe cotton prices will fill that gap at 89 in the coming weeks possibly if next week’s report is very bullish. TREND: HIGHER –CHART STRUCTURE: EXCELLENT Continue reading "Weekly Futures Recap w/Mike Seery"