What’s Up, What’s Down: Still Bearish on Energies; Dollar Closes Higher (Again!)
Comments for Thursday, May 13, 2010
Looking Ahead to Today by Reflecting Back at Wednesday’s Price Action
Higher for heating oil, the RBOB and natural gas but slightly lower for crude oil. All of the energies continue to be sells with the RBOB still in a resistance area but making higher highs and lows over the last few(4) trading sessions. Gas has been attempting to base lately even after The Wall Street Journal had a nice article on how gas is procured at a much greater rate with new technology. However, the trend is still down overall. BUY SIGNAL HEATING OIL. SELL SIGNALS FOR THE CRUDE OIL, RBOB AND NATURAL GAS. CALL FOR DETAILS!
Higher closes yesterday for the dollar index while, conversely, lower for the Japanese Yen, Canadian Dollar, British Pound, Aussie Dollar, Euro Fx and Swiss Franc. The euro and franc are both still in downtrends overall but the yen should work higher from its present level which is also a support area. The Canadian and Aussie Dollar along with the pound settled lower and should be sold on rallies. Call me for details. The dollar closed higher again with its second highest settlement of the move. BUY SIGNALS FOR THE JAPANESE YEN AND DOLLAR INDEX. SELL SIGNALS FOR THE EURO FX, SWISS FRANC, BRITISH POUND, CANADIAN AND AUSSIE DOLLAR. CALL FOR DETAILS!
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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 firstname.lastname@example.org.
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.
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