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.

02 Feb

Precious Metals Continue Bullish Momentum

in Blog, copper, gold, platinum, silver

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.

02 Feb

Free 25 Proven Option Strategies

in Blog, Option strategies

If you have any questions about option trading go to my website and download the 25 Proven Option Strategies and give me a call at 800-615-7649 and I will help you understand how to use options properly.

02 Feb

Option Bear Put Spreads

in Blog, Option strategies

Bear Put Spread

When to use:

If you think the market will go down, but with limited downside. Good position if you want to be in the market but are less confident of bearish expectations. The most popular position among bears because it may be entered as a conservative trade when uncertain about bearish stance.

02 Feb

How To Trade Bull Call Spreads

in Blog, Option strategies

If you think the market will go up, but with limited upside. Good position if you want to be in the market but are less confident of bullish expectations. You’re in good company. This is the most popular bullish trade. Profit characteristics: Profit limited, reaching maximum if market ends at or above strike price B at expiration. If call-vs.- call version (most common) used, break-even is at A + net cost of spread. If put-vs.-put version used, break-even is at B – net premium collected. Loss characteristics:

01 Feb

Crude Oil Settles On The Low Of The Day

in Blog, crude oil, heating oil, unleaded gasoline

Crude oil continues to selloff from early morning strength to finish near its low for the day down 80 cents closing at 97.65 a barrel. Heating oil and unleaded gasoline were both unchanged for the day. The crude oil is having a difficult time staying above $100 a barrel and might need to re-test 95 dollars before it moves higher. The API report today was pretty much a non-factor in trading today. The real strength is the unleaded gasoline which is at contract highs and in my opinion will continue to climb heading into spring and summer.

01 Feb

New Highs In Foreign Currencies Today

in australian dollar.peso.canadian dollar, Blog, US dollar

Another down day for the US dollar as investors are flocking towards all major foreign currencies. The Australian dollars hit new contract highs today as well as new highs in the Canadian dollar and the Mexican Peso. The anticipation of QE3 ahead is putting pressure on the dollar because of the fact that are interest rates in the U.S are staying low for 2-3 years longer.

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