If positions are opened we will initiate tight stops. FOMC announcement is this afternoon which means markets can get volatile, especially equities, oil, and interest rates.
Consumer confidence is slowly but surely returning. The University of Michigan measure of consumer confidence reached its highest post-recession level on Friday. Confidence remains relatively low from a long-term historical perspective but it’s changes on the margin like this are very important to strengthen economy.
Short position in YG (Gold) was closed on Friday at our immediate target of 1,215 for a +17.5 point gain. The position was entered on 7/25/13 at 1,232.5. We are still looking for short positions in ES (S&P 500) and QM (Crude Oil) to trigger. However, with the FOMC policy announcement to be released on Wednesday prices will […]
Breaking news apparently causing weakness in equity markets on Friday morning came from The International Monetary Fund (IMF). In a statement they said: We are unclear whether the Fed’s easy money message could undermine the economy, market fears of a premature exit could cause up to a 125 bps spike in the UST 10-year yield. Notes that the […]
Our quick target in our short Gold (YGQ3) trade from 1,332.5 was hit at 1,315 and the position was closed for +17.5o points, or $577.15 profit (accounts for commission in an Interactive Brokers account). It doesn’t appear any more signals will trigger today. Look for updates on Monday morning.
We were filled on our Gold (YG) short at 1,332.50 on Thursday. The August contract is now trading at 1,324 as of early Friday morning. Our protective trailing stop is currently placed at 1,335.00 but we may slide the stop down to breakeven at 1332.50 as the trade develops. We barely missed our sell limit in the ES September contract […]
Here we go… ES triggered short on 7/24 and we will open a new short on a bounce to 1,690.5. Gold also triggered short on 7/24 and we will open a new short on a bounce to 1,332.50. Please remember to manage stops if triggered. We are also looking for long positions to trigger in Corn and Wheat. Click on the image below for […]
There are no current active signals. Most markets are moving slow and volume is pathetic. The following symbols are on the watch list: ES (S&P) short, ZC (Corn) long, ZS (Soybeans) long, and ZW (Wheat) long. New signals will be posted when triggered with the proper set-up.