What’s Up, What’s Down: Energy Sector in Today’s Spotlight
Comments for Thursday, October 21, 2010
Looking Ahead to Today by Reflecting Back at Wednesday’s Price Action
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors.
ENERGIES:
[Reports today: EIA GAS STORAGE]. Higher to sharply higher closes Wednesday for crude and heating oil along with the rbob and natural gas. This time the energies made strong closes when the dollar fell back sharply after Tuesday’s strong rally. However, my sell signals continue to be okay but I’m removing my buy signal for the crude and would stand aside for now in the energy. Natural gas continues to be weak overall mainly due to huge inventories that show little signs of cleaning up due to better procedures for taking the gas out of the ground. Now, farmers in some states are renting out their property for gas storage! BUY SIGNAL FOR CRUDE OIL. SELL SIGNALS FOR HEATING OIL ALONG WITH THE RBOB AND NATURAL GAS. CALL FOR DETAILS!
Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at ralexander@zaner.com.
The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.