07 Feb

Stocks Make New Yearly Highs

in Blog, nasdaq, S&P

 The S&P continues its bull run in early 2012 gaining another 6 points to close at a new yearly high of 1345. Earning season has been pretty solid and commodity prices have risen which is bullish certain stock sectors such as mineral, gas, or grain companies. The Nasdaq continues to make contract highs again today gaining 5 points in a quiet session. In my opinion these markets will continue to climb higher going into the summer months.

07 Feb

Dollar Hits 8 Week Low Against Euro

in australian doller, Blog, Euro currency, US dollar

 The U.S Dollar traded at 8 week lows against the major foreign currencies today in heavy trading. The Euro currency was higher by 132 points closing around 1.3255 and closed right near the highs of the day. The Australian dollar made fresh contract highs again today closing higher by another 70 points at 1.0750. The dollar I believe is still headed much lower and could retest 2008 lows of around 72.50.

07 Feb

Crude Oil Higher On Dollar Weakness

in Blog, crude oil, heating oil, unleaded gas

 Crude oil futures for March delivery rallied sharply off of the falling dollar to close up $1.60 to close around 98.60 a barrel. The products were not as strong as crude today with unleaded gas finishing unchanged for the trading session. Heating oil futures made fresh contract highs today closing up another 2 cents to close around 3.19 a gallon. I still believe that these markets will continue to climb higher as worldwide economies improve.

07 Feb

Grain Market Quiet Awaits Report

in Blog, corn, oats, soybeans, wheat

 A very quiet trading session in grain market today with traders keeping a close eye on Thursdays USDA crop report. Soybean futures were down only 1 cent to close around 12.32 a bushel in only a 12 cent trading range today. Corn futures were lower all day and finished down by 2 cents to close around 6.42 a bushel. Corn has been in a 10 cent trading range for 2 straight weeks and could breakout to the upside if some bullish news comes out of Thursday’s report.

07 Feb

Gold & Silver Sharply Higher On Dollar Weakness

in Blog, copper, gold, platinum, silver

 The gold market reversed early losses and exploded to the upside trading higher by $25 dollars to close at 1,750 an ounce. Silver futures were sharply lower as well early in the trading session and then rally strongly into the closing bell finishing higher by 50 cents closing around 34.33 an ounce. There is major resistance between 34-36 dollars in silver and if it can break that level look for much higher prices to come possibly in the $40 range.

07 Feb

Dollar Down Sharply In Early Trade

in austrailan dollar, Blog, Euro currency, US dollar

The U.S dollar is down against the major foreign currencies in early trade with the Euro currency up 100 points currently trading above 1.3230. The Australian dollar continues its bullish trend making fresh contract highs once again today. The sell off in the dollar is causing a reversal in prices for many of the commodities which were all lower earlier.

07 Feb

Heating Oil Rallies To Contract Highs

in Blog, heating oil gas crude oil

Heating oil futures for March delivery hit fresh new contract highs this morning trading as high as 3.22 a gallon and currenty up 2 cents at 3.20 a gallon. Strong demand for the products is the reason gas and heating oil have out performed oil.

07 Feb

Commodities Trade Lower In Early Trade

in Blog, commodiites, gold, silver

The commodities are lower this morning despite a weaker dollar vs the Euro currency. Gold futures are lower by 10 dollars and silver is lower by 30 cents. All of the grains are down by about 5 cents on hthe night session. Crude oil is lower by 60 cent while the products are slightly higher.

06 Feb

Commodities & Stocks Start 2012 Strong

in Blog, commodities, S&P

The beginning of 2012 has brought nice returns in stocks and commodities in the early part of the year. This could be the year that rivals 2008 when commodity prices were at their all time highs. Look at unleaded gas, heating oil, soybeans, silver, and many other commodities that are starting to rally on the thought that QE3 is coming and the fact that the Fed is creating higher costs and lower yields as a strict  monetary policy.

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