Monday, September 30, 2013

Weekly Market Recap with Mike Seery - Gold, Silver and Coffee


Here is a weekly recap of the gold, silver and coffee markets from our trading partner Mike Seery.....  

Gold futures traded up $7 for the trading week and higher by $15 dollars an ounce this Friday afternoon at 1,340 still in a sideways to downward pattern & I am still advising traders to sit on the sidelines and wait for a real trend to develop, but I do believe that prices look weak at this level and are headed lower with the possibility of testing 1,290 once again. Gold is still trading below its 20 and 100 day moving average and it wouldn’t surprise me to see gold retest the June 28th low of 1,182 but that day prices closed at 1,225 & that’s only about $100 dollars away and I think in the long run if your bullish gold you probably want to see gold retest that level and rebound strongly confirming that the possibility of a long-term bottom would be in place. The chart structure in gold is improving which will allow you to place a closer stop loss in the futures market minimizing your risk especially if you trading the mini contract and the liquidity in the gold futures are outstanding as money flowed back into the stock market today and out of the precious metals. TREND: SIDEWAYS TO LOWER –CHART STRUCTURE: IMPROVING

The silver market was basically unchanged for the trading week and finished up 10 cents at 21.85 this Friday afternoon in New York in a real lack luster trade as volatility has slowed down in recent days but I don’t think that will last for long as silver is one of the most volatile commodities in the world on a daily basis. Silver futures are still trading below their 20 but right at their 100 day moving average with a possible retest of the recent low at 21.22 and is still looks relatively weak in my opinion but if you’re a long term investor I still believe silver prices are cheap & I do think prices will head higher eventually but they might retest the $20 level first in my opinion. Silver is extremely volatile and impossible to try & pick a top or bottom so the object is if your bullish is to try to buy near the bottom or what I still believe is to take advantage of big down days in silver. The most recent high in silver was 25.17 which was during the Syria situation so prices have dropped around $3.50 from those highs; however I think prices will chop around for a while and form a long term bottom at these levels. TREND: SIDEWAYS – CHART STRUCTURE: SOLID

The coffee market continues its bearish trend in New York this week trading as high as 119 on Wednesday in the December contract looking to possibly breakout to the upside but then prices got slammed hitting a 4 1/2 year low down another 180 points at 113.90 this Friday with the next major support between 100 – 110 & in my opinion it looks like were headed to those price levels. The coffee market has excellent chart structure allowing you to place a tight stop loss above 119 if you’re looking to get short risking around $2,000 per contract as rumors of a massive crop coming out of Vietnam possibility 29 million bags which is well above recent estimates of 27 million bags pushing prices lower and I still believe if prices get down to the 100 level & your long term investor prices look awful cheap at major yearly support. The biggest fundamental problem with coffee currently is supplies are huge with excellent growing conditions around the world which is keeping a lid on prices at this time. The one positive influence coffee has is the fact that all the bad news is already priced into the market and the fact that the U.S dollar is hitting another 8 month low today could start to support coffee and all the other commodities as well in my opinion. TREND: LOWER – CHART STRUCTURE: EXCELLENT

What do I mean when I talk about chart structure and why do I think it is so important when deciding to enter or exit a trade? I define chart structure as a slow and grinding up or down trend with low volatility and no chart gaps. Many of the great trends that develop have very good chart structure with many low percentage daily moves over a course of at least 4 weeks thus allowing you to enter a market and allowing you to place a stop loss with will be relatively close due to small moves thus reducing risk.

Charts that have violent up and down swings are not considered to have solid chart structure but markets that continue to trend like the current soybean complex allowing for you to place close stops as it continues to fall dramatically. I always like to place my stops at 10 day highs or 10 day lows and if the charts have a tight pattern that will allow the trader to minimize risk which is what trading is all about and if the chart has big swings your stop will be further away allowing the possibility of larger monetary loses.

Click here to see some more of Mike's calls on commodities to get you started for the work week.



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Sunday, September 22, 2013

Weekly Gold Market Summary

Gold futures in the December contract had one of the most volatile and crazy trading weeks that I can remember finishing this Friday afternoon down $35 at 1,333 an ounce after settling last Friday at 1,308 rallying on the concept that the Federal Reserve will not taper bond purchases which sent many of the commodity markets sharply higher including gold on Wednesday afternoon, however reality has set in as Goldman Sachs came out stating that they believe the Federal Reserve will start tapering in December which put a lot of pressure on many commodities including the stock market today.

I have been advising traders to sit on the sidelines in the gold market & I still think gold looks relatively weak closing right on session lows today as the bond purchasing in my opinion is overrated. The trend in gold is lower at this point but wait for better chart structure to develop before looking to enter into this market as volatility is too high. The U.S dollar hit an 8 month low which also propelled gold prices higher on Wednesday as the Federal government continues to try & support asset prices and it also continues to try to devalue the U.S dollar which is generally bullish commodity prices, however money seems to the flowing back into the S&P 500 as prices are hitting all-time highs while taking money out of gold market.

TREND: LOWER –CHART STRUCTURE: POOR

Here's additional commodity updates from our very own Mike Seery


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Friday, September 13, 2013

Trading the Trend....Is Your Strategy Working?

This week our trading partner Todd Mitchell is sharing his unique trading strategies and we are finding they aren't for everyone. And, especially not for those people who like to use complicated software or get handcuffed to some "black box" trading system.

But it's a great insight into how professional E-Mini traders place winning trades everyday. You have to watch Todd's free presentation "The Simple Truth About Trends"

Todd proves that the key to pulling money of the markets - whether you're trading stocks, Forex, E-Mini futures or Options - is to trade with the prevailing trend. Yet, most people doing it all wrong. They're missing critical clues in price, getting in too late and not exiting their trade before the trend turns.

However, after watching this free video you'll have more knowledge about the trend than 90% of other traders.

Inside this presentation you'll discover:

- 3 Critical Bullish Patterns in Price
- 3 Important Bearish Patterns in Price
- 3 Little-Known Truths in Trend That Apply in all Markets in all Timeframes
- How to Spot Reversals Before They Happen
- How to Determine the Strength of the Market


There's over 1,000 comments of people raving about this content and I'm certain you'll agree it's one of the best presentations you've watched all year.

Watch "The Simple Truth About Trends" now!

The Gold ETF Trader


Wednesday, September 11, 2013

Trading the eMinis....a lot easier then you think - New Video


Many traders are CRUSHING it in the eMinis right now! At the same time, far more traders are gripped with fear and struggling just to break even. The difference?

Trade with confidence and consistency

As you know, you build both when you understand the best times of the day to trade, and how to avoid the common mistakes and 'hidden' pitfalls that prevent consistent profits.

Trading veteran Todd Mitchell of Trading Concepts just came out with a video training that shows the hurdles holding back most traders from making money (using his actual charts!)

Watch closely as he shows you how to pull predictable profits from the eMinis while only using a single chart! The knowledge he shares will shortcut your learning curve and help you avoid falling victim to shady advice.

When you watch the video, I'm almost certain you'll uncover several nuggets of wisdom for eliminating mistakes that will cost you profits. This is not just about gain, it's about acting prudently to prevent and avoid financial pain!

Watch "eMini Trading Strategies, Tips and Techniques"



Friday, September 6, 2013

Weekly Gold futures Recap

From our trading partner Mike Seery.....

Gold futures this week saw extremely volatile trade finishing out this Friday afternoon up $14 at 1, 387 an ounce and traded as low as 1,358 this morning before the U.S unemployment report came out showing we added 169,000 new jobs which was disappointing to traders thinking that the Federal Reserve will not taper pushing many commodities higher this afternoon. Tensions in Syria as well are starting to flare up as it looks like Pres. Obama is determine have some type of strike against Syria which also lent support to prices this afternoon as gold is kind of stuck in a range between 1,430 & 1,350 looking for some new fundamental news to dictate short term prices.

I’m still advising traders to be long the gold market with either some type of bull call spread limiting your risk to what the premium costs or if you’re a futures trader possibly be long the mini contract or big contract depending on account size as I do think worldwide problems are here to stay and there might be a real need to own gold once again. The chart structure in gold is very good; however this is a high risk trade as you’re having $30 to $50 swings on the daily basis so you must respect money when you’re trading this market because of the high risk at the present time.

TREND: HIGHER –CHART STRUCTURE: EXCELLENT –RISK--HIGH

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Monday, September 2, 2013

"Beating the Market Makers" John Carter's Webinar Replay

Our trading partner John Carter has decided to replay his wildly popular "Beating the Market Makers" webinar this Wednesday September 4th at 8 p.m. eastern time. He is going to teach you more in one hour, for NO COST, then you could learn in 3 months. John is going to show us in detail how he uses a weekly options trading method that puts you on the same side of a trade as the market makers. A good place to be.

Over 10,000 traders watched the live webinar on Tuesday and John does limit seating so sign up right away before traders fill all of the slots.

Just Click here to Register Now

Here's what he'll be covering...

-  How to be on the same side as the Market Maker

-  How to protect yourself in a trade

-  How to pick the right stock at the right time

-  What Wall Street doesn't want you to know about weekly options

-  The one simple trick to put the odds in your favor

   And much more......

This timely webinar replay will take place this Wednesday, August 22nd at 8:00 PM Eastern Time.

Click here to register

After you register you will receive reminder emails automatically so you don't miss the webinar. I don't know if they'll be recording this, or if he'll ever share this information again, so don't miss out.

We'll see you in this free training class, then we'll see you in the markets. Will you be trading with us....or against us?

The Gold ETF Trader

Market Makers.....Can you be on the same side of the trade?