Mike Seery's blog

03 Feb

Buying Oppurtunity In Gold & Silver On Selloff

in Blog, gold, silver

If you are looking to get long the precious metals then today could be your buying opportunity. Silver is down 60 cents and gold is down 19 dollars.These markets are still in a bullish trend and should be bought on dips in my opinion.

03 Feb

Coffee Prices May Have Seen Lows For 2012

in Blog, coffee

Take a look at the coffee market to rally off of a recent double bottom which happened earlier in the week. Coffee prices have been grinding lower for several months and it could be time to get long at a relatively cheap price. Most other commodities have rallied with the improving economy however coffee has not participated. In my opinion look at the May call options because volatility is very low and call options are cheap at this point and time.

03 Feb

Grain Market Gets Positive Unemployment Report

in Blog
The grain market on the night session ended about 5 cents higher for corn,beans, and wheat. Look for more gains during the day trading session because of the positive unemployment report to spur additional buying in grains and  all commodities. These markets have turned because of the positive economy and in my opinion should continue to climb.
03 Feb

Unemployment Report 2-3-12

in Blog, Bonds, commodities, stocks

The monthly unemployment report today announce that 243,000 jobs were added in the month of January placing the unemployment rate at 8.3%. This news was welcome to the stock and commodity markets raising hopes that good times are coming and ecobomies are improving.These numbers are huge and will be very poditive for the markets today.

02 Feb

Commodities & Stocks Making Highs

in Blog, commodities

With the Nasdaq compostite hiiting 11 years highs today and in my humble opinion will even go nuch higher over the course of the year. If stocks keep making new highs you will then see higher commodity prices across the board.Take a look at the charts from September 2010  and compare them to recent activity to today.

02 Feb

Closing Commodity Comments 2-2-12

in Blog, commodites

Metal Futures--- The precious metals rallied higher again today on strong bullish momentum and the perception that the US dollar is headed lower. Gold futures climbed another 9 dollars to close at 1,758 an ounce while silver futures added an additional 35 cents to close at 34.15 which are 2 month highs; looking like it is headed towards $40 dollars an ounce soon. Platinum futures were quiet today adding only 7 dollars an ounce. Copper futures struggled today on profit taking closing lower by 500 points to close around 3.79.

02 Feb

Crude Oil Down Sharply-Products Mixed In Quiet Trade

in Blog, gas, heating oil, oil

The crude oil market was down $1.50 a barrel today on the defensive because of the large overhang of supply in the market. Like I said yesterday I think crude had to go to 95 dollars a barrel before heading higher which it did this morning. Unleaded gasoline finished lower by 2 cents to close at 2.87 a gallon in light trading today. Heating oil was higher by 1 cent to close around 3.05 a gallon.

02 Feb

Nasdaq Hits 11 Year High

in Blog, nasdaq


The nasdaq is going to close at an 11 year high which is remarkable with all the ups and down in the market place in the last 3 years. I am very bullish stocks and commodities and I believe we will have a big gain in both of these assets this year. If the monthly unemployment report is bullish tomorrow look out to the upside in all the markets except for bonds.

02 Feb

U.S Dollar Unchanged Before Tomorrows Unemployment Report

in Blog, US dollar

The U.S Dollar was unchanged today while keeping an eye on tomorrows big unemployment report which will be announced at 7:30am Central time. The consensus is that the private sector created 125,000 new jobs which I think will be bullish the stock market and bearish the dollar. Many of the foreign currencies were very quiet today trading on both sides of unchanged throughout the afternoon.


02 Feb

Wheat Futures Drop On Profit Taking

in Blog, corn, oats, soybeans, wheat

Wheat futures were sharply lower after a couple of sharply higher trading sessions finishing lower by 12 cents to close around 6.61 a bushel. Soybean futures were quiet to close around unchanged for the trading session settling at 12.17 a bushel. Corn traded higher and lower today before settling unchanged as well to close at 6.43 a bushel. Oat futures which I have been recommending to buy closed higher once again by 3 cents to close around 3.08 a bushel.

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