Trading

Possible Quadruple Bottom In Corn
Possible Quadruple Bottom In Corn

Corn Futures—Corn futures in the December contract finished unchanged at 3.89 a bushel which is considered the new crop and is currently being planted in the Midwestern part of the United States as I will now focus on this contract for the rest of the growing season. The WASDE crop report was released today stating that carry over levels increased…

S&P 500 Breaks 4 Day Winning Streak
S&P 500 Breaks 4 Day Winning Streak

S&P 500 Futures—The S&P 500 in the June contract is breaking a 4 day winning streak down 12 points at 2886 as traders are awaiting earnings season which will kick off this Friday as that will certainly send volatility back into this market. The 10-year note is currently yielding 2.50% as that is a bullish fundamental factor towards all equity…

Keep A Close Eye On Silver
Keep A Close Eye On Silver

Silver Futures—Silver futures in the July contract is trading slightly higher for the 3rd consecutive session bouncing off of major support around the 15.00 level last week as I think a possible short-term bottom is at hand. At the present time I do not have any recommendations in the precious metals, but I do think prices will move higher despite…

Cattle Prices Higher 2nd Day In A Row
Cattle Prices Higher 2nd Day In A Row

Live Cattle Futures—Live cattle futures in the June contract is trading higher for the 2nd consecutive trading session up another 20 points at 120.77 in a lack luster trade. If you are long a futures contract I would continue to place the stop loss under the 2 week low which now has been raised to 118.70 as an exit strategy…

Coffee Chart Looks Interesting
Coffee Chart Looks Interesting

Coffee Futures–-Coffee futures in the May contract is trading higher by 105 points at 94.00 a pound as prices still look to be forming a bottoming out pattern in my opinion. Coffee inventories remain at 2.493 million bags as we are still right near a 4 3/4 year high as inventory levels have been the main culprit for these depressed…

Will Wheat Prices Test Contract Lows ?
Will Wheat Prices Test Contract Lows ?

Wheat Futures—Wheat futures in the May contract settled down 2 cents at 4.65 a bushel as traders are waiting for tomorrow’s crop report which will send some fresh news back into this market. If you are bullish and are long a futures position I would place the stop loss at 5.52 as an exit strategy. If you are bearish and…

I Remain Bullish Cattle Prices
I Remain Bullish Cattle Prices

Live Cattle Futures—Live cattle futures in the June contract is currently trading lower by 95 points at 120.62 after settling last Friday in Chicago at 119.00 up about 160 points for the week continuing its bullish momentum. If you are long a futures contract continue to place the stop loss at the 118.30 level as an exit strategy as I…

Where Are Cotton Prices Headed?
Where Are Cotton Prices Headed?

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Where Are Silver Prices Going ?
Where Are Silver Prices Going ?

Silver Futures—Silver futures in the May contract is trading lower by only 1 penny at 15.76 hitting a 1 week low as I’m currently sitting on the sidelines, but I do have a bullish bias toward silver and the precious metals across the board. Full text available to┬áMike’s Coffee Shop Members only

Keep A Close Eye On The 10 Year Note
Keep A Close Eye On The 10 Year Note

10 Year Note Futures—The 10 year note in the June contract is trading lower for the 2nd consecutive session lower by another 6 ticks at 122/01 right near a 4 week low. The 10 year note has been stuck in a tight 4 week consolidation looking to break out to the downside as the yield at the present time is…