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 The Nemenoff Report - Bonds Lower, S&P's higher, Silver Higher
Marc Nemenoff I PRICE Group - 18 May 2012
Financials: June Bonds are currently 15 lower at 147’29 and the 10 Yr. Notes 7.5 lower at 133’17.0. Possible top in the 5 Yr. Note. Consider buying puts and/or put spreads on Sept. Bonds or Sept. 10 Yr. Notes.
Grains: Over night July Corn traded 4’0 higher at 629’0, July Beans 5’6 higher lower at 1432’2 and July Wheat 5’4 higher at 663’2. Strong export demand from China has pushed Corn back into resistance in the 630’0 area. We have taken profits from all long Corn positions. ... read more  Grain Market Comments - Weather Rules
Tim Hannagan I PFGBEST - 18 May 2012
The rally in wheat this week came off the lows for the year under 6.00. Calls to me asked is this wheats low now for the year our just another bounce. Since January, we have steadily declined from 7.04 to 5.92. On the way we saw six short covering rallies. The smallest was $.30 and largest $.50. Trend following funds have consistently held between 98,000 short positions and 55,000. Taking profits largely on the month end book balancing. The bearishness came as we sat on 800+ million bushels of ending stocks, double what’s considered tight stocks. ... read more  Energy Market Comments - Quantitative Conundrum
Phil Flynn I PFGBEST - 18 May 2012
God and silver soars and oil sinks in what can be best described as a quantitative easing conundrum. Many people were confused how gold might rally after briefly dipping in bear market territory after the dollar rallied for a record 14 days. The day after the Fed minutes showed that several Fed Officials would be open to more economic stimulus if the economy turned worse all of a sudden it seemed that indeed thinks look worse. ... read more  Daily Forex Update: USD/JPY
autochartist.com - 18 May 2012
Dima Chernovolov - USD/JPY has recently broken down sharply through the horizontal Key Levels support level 79.6340 identified by Autochartist on the 4-hour charts. Autochartist rates its Significance at the high 6 bar level – reflecting the fact that the price has recently reversed up 6 times from this support level. This breakdown continues the overriding downtrend visible on the daily and the weekly USD/JPY charts. The pair is expected to fall further toward the Forecast Price 78.9398, which is also indicated by the PowerStats analysis shown below. ... read more  Daily Fundamental Analysis - Greek Exit More Likely Than Ever
bforex Research - 18 May 2012
The small change in direction experienced by the markets on Thursday was short lived, as the Euro once again stumbled against the greenback during Asian trading on Friday. The EUR/USD is down 0.40% and trading at 1.2647. The USD gained some ground on the single currency after yesterday’s Unemployment Claims report in the United States came in as expected, while upheaval in Greece continues to destabilize the Euro. ... read more The Nemenoff Report - Bonds Higher, S&P's higher, Silver Higher
Marc Nemenoff I PRICE Group - 17 May 2012
Financials: June Bonds are currently 3 higher at 146’29 and the 10 Yr. Notes 2 lower at 133’11. Weekly Jobless Claims were unchanged as expected. Continuing claims were up 18,00. These markets in my opinion are still trading with a “flight to quality premium” because of global events (European debt). Treat as a trading affair.
Grains: Over night July Corn traded 1’0 lower at 619’0, July Beans 11’2 higher at 1433’2 and July Wheat 1’6 higher at 640’4. ... read more Daily Forex Update: GBP/USD
autochartist.com - 17 May 2012
Dima Chernovolov - GBP/USD has recently completed the high Quality Up Channel chart pattern identified by Autochartist on the daily charts. Autochartist rates the overall Quality of this chart pattern at the 8 bar level as a result of the sharp Initial Trend (measured at the highest 10 bar level), above-average Uniformity (6 bars) and significant Clarity (8 bars). This chart pattern continues the preceding weekly downward price thrust from the major level of resistance at 1.6600 (which had been reversing the pair down multiple times over the last few years) standing close to the 38,2% Fibonacci Retracement of the previous sharp downward price impulse from the November of 2007 to the start of 2009, as is shown on the second chart below). ... read more Daily Fundamental Analysis - Trends Reverse…Slightly
bforex Research - 17 May 2012
The Euro is up slightly against the greenback during early European trading on Thursday, but remains far below levels from two weeks ago. The EUR/USD is up 0.18% and trading at 1.2739 this morning, rebounding from a 0.10% decline during yesterday’s trading in the United States that saw the pair close the session at 1.2717. The Dollar is either steady or down against major currencies this morning, halting several days of strong gains after the Federal Reserve gave investors the impression that economic stimulus is back on the table. The biggest change comes from the AUD/USD, which is up 0.43% and trading at 0.9956. ... read more Energy Market Comments - Gasoline Bubble has Popped
Phil Flynn I PFGBEST - 16 May 2012
Oil Prices and RBOB prices plummet as the market is not convinced that the EU can keep Greece in the zone and stop the contagion from spreading, despite the meeting of the minds between German Chancellor Angela Merkel and new French president Francois Hollande. Even Christine Lagarde, the managing director of the International Monetary Fund, is acknowledging that a Greek exit is possible and will be messy. With safe haven seekers running to the dollar and bonds, and a lowered risk of war from Iran, oil prices and gas prices are getting hit. Who could have seen this sell-off coming? Well I did. ... read more |
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