Comments for December 14, 2010
Looking ahead to Tuesday by reflecting on Monday’s trading 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
Heating Oil forming a Bull Pennant?
ENERGIES: 12/14/10: Higher closes yesterday for natural gas, crude and heating oil along with the rbob. The energies continue to look higher overall with very choppy action continuing although the heat and rbob look like they’re in BULL PENNANTS at this time. Although gas has given me two buy signals so far its rally has been a struggle so far with strong resistance over 450 basis the January contract. BUY SIGNALS FOR THE CRUDE OIL AND HEATING OIL ALONG WITH THE RBOB AND NATURAL GAS. CALL FOR DETAILS!
Special Note for Cotton Traders: The daily price limit for Tuesday, December 14 will expand to 5 cents.
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 or call toll-free (888) 281-4158.
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors. The information in this Report and the opinions expressed are subject to change without notice. All known news and events have already been factored into the price of the underlying commodities discussed.