kenny1703's Blog

Cotton is 85 points lower on Macro fears.

kenny1703 — Thu, 25 Apr 2013 04:04:06 GMT

Cotton futures rallied two cents from the low on Friday ahead of the close, probably spurred by option expiration in the May contract.

Traders now face first notices of delivery on May on the 24th of April. There were 7,010 bales of cotton certified for delivery this weekend, making the total available for delivery 456,559 bales.

This morning cotton futures ...

Grain market relatively quiet this week

kenny1703 — Tue, 19 Feb 2013 01:32:38 GMT

The grain market this week was relatively quiet compared to weeks past, with high volatility in soybeans in the March contract settled last Friday at 14.30 level…up about $.08 for the trading week – still trading above its 20 day moving average but below its 100 day moving average. There is no trend in sight as investors and traders are keeping an eye on South American weather, which at this point is relatively decent while we’re going in...

Precious metals weaker across the board

kenny1703 — Thu, 24 Jan 2013 23:35:21 GMT

(futuresknowledge.com) - The precious metals in New York today are weaker across the board, with gold down $17 an ounce in the April contract…currently trading at 1,672 as traders are taking profits from the recent run-up in prices – while gold right now is currently trading right at its 20-day moving average. It is getting further away from the critical 100 day moving ...

Cotton report supports prices Jan 11, 2013

kenny1703 — Tue, 15 Jan 2013 09:46:36 GMT

Cotton futures gained 120 points early this morning, then sold off after the USDA report was released.

Then, futures turned higher again and are trading 60 points higher this morning in March. The report was friendly to US...

FinNews for January 4, 2013

kenny1703 — Fri, 04 Jan 2013 20:34:44 GMT

A deal to avoid the fiscal cliff was finally passed by Congress this week. Estimates show that 77 percent of Americans will encounter higher federal taxes in 2013. However, the package does extend most “Bush-era tax cuts for individuals making less than $400,000 and married couples making less than $450,000.” (1) During the U.S. Fed Reserve’s December meeting, concerns over financial stability and portfolio assets – topping 2 t...

FinNews for January 4, 2013

kenny1703 — Fri, 04 Jan 2013 20:33:47 GMT

Cotton trades quietly ahead of holiday

kenny1703 — Thu, 03 Jan 2013 21:42:31 GMT

Cotton futures gained on Friday and are trading a little higher this morning. Cotton available for delivery increased to 81,185 bales, up 2,322 bales.

The market will close at noon today for the holiday.

The US Dollar Index is down 12 points at 79.59.Crude oil is down 8 cents at $88.58.March soybeans are up 2 cents at $14.31 ¼.March corn is u...

Grain market continues bearish momentum

kenny1703 — Tue, 18 Dec 2012 23:09:36 GMT

The grain market in Chicago continued their bearish momentum, with corn down once again in the March contract at 7.18 – closing right near session lows finishing down about $.06…also pressuring the wheat futures down another $.02 at 8.06 a bushel in the March contract.

In my opinion, wheat prices are headed sharply lower from these levels. I’m advising traders to be short this ...

The US Dollar remains the preferred currency

kenny1703 — Tue, 06 Nov 2012 03:49:32 GMT

The US Dollar and US Treasuries have benefited from the Euro debt crisis as Spain’s recession seems to worsen! Moody has downgraded five regions including Andalusia and Catalonia to junk status and lower respectively.

The Bank of Spain commented that the annual contraction rate of 1.7 % was perhaps heightened by the austerity program in the recession. The deficit is thought to ...

Tug of War to Tug of Weird

kenny1703 — Tue, 24 Jul 2012 22:13:01 GMT

Last week’s market tug of war seemed to be better than expected U.S. earning versus European woes. Europe clearly won Friday as the markets spent the good part of the trading session face down in the mud, refusing to move after their loss.

While a number of big names including General Electric beat earning estimates, only 45% of companies that have reported topped the...

See No Easing, Hear No Easing

kenny1703 — Wed, 18 Jul 2012 22:17:51 GMT

Since day one of Ben Bernanke’s testimony did not provide any clear signs of when we could see another round of quantitative easing, Big Ben has gone into obfuscation mode and he’s playing it close to the vest.

Perhaps, we might need to look at the moon for a market tip.

On Tuesday Mr. Bernanke wil...

Swap Meet

kenny1703 — Wed, 11 Jul 2012 22:17:55 GMT

The Dodd-Frank Act, the financial reform measures that Congress passed in the summer of 2010, (or more aptly name The Frankly-Do-nothing Act) called for the majority of the $600 trillion derivative market, including credit default swaps, to be traded on exchanges and for transactions to go through clearing houses.

None of this has happened. That’s right, zip, zero, nada....

Rally Time

kenny1703 — Tue, 03 Jul 2012 22:21:19 GMT

Friday’s stock indices all closed markedly higher, which came after huge higher gap opens. What happened in between the higher gap opens and the close was nothing. The markets were dead…until the closing bell. Only then was there life when the markets went even higher on a short covering explosion.

ZeroHedge has a good recap of the action here

In the fallout from the 2008 global financial crisis, there have been moments that have been driven by pure fear. These are the moments when it can be hard to maintain your composure and trade your plan. Unfortunately, these big days are the times when you need that composure the most. Here is a quick lesson in why it is important to keep focused in a scary market and how to achieve that focus.

Siamese Twins

kenny1703 — Wed, 27 Jun 2012 22:12:21 GMT

“The Eurocollapse is coming, the Eurocollapse is coming!” US markets finished lower Monday pricing in the expectation that the upcoming EU Summit will be an exercise in futility and may as well be run by rabble rousing soccer hoodlums.

George Soros may not have a solution, but he can certainly diagnosis the problem. Speaking to Bloomberg about the financial debacle that ...

Movies

kenny1703 — Wed, 20 Jun 2012 00:26:26 GMT

In 2002 a film entered movie theatres across the country and quickly became successful for its comedic value and charm: My Big Fat Greek Wedding. What’s playing out on Fraud Street and in every political chamber of the world is not a comedy, but a tragedy.

If this tragedy had a name it would certainly be changed from time to time along with the odd circumstances and ne...

Mirrors

kenny1703 — Tue, 12 Jun 2012 23:45:25 GMT

“Mirror, mirror on the wall; who’s the most rigged of them all?” The mirror in this fairy tale of “free markets” responds “Boxing. No wait, I’m changing my answer: global equity markets.”

Monday’s market action was a mirror image of Friday’s – the same but backward. As you know by now, Friday levitated much higher on no volume but somehow, magically, exploded even hi...

Trading Tip #30: Advanced Technical Indicators - Bollinger Bands

kenny1703 — Sun, 10 Jun 2012 22:22:33 GMT

Let's take another look at a more advanced technical tool - Bollinger Bands. These were developed by John Bollinger in the 1980s. In simple terms, they use a simple moving average and standard deviations to give a different perspective on potential highs and lows.

Bollinger Bands have a middle band and two outer bands.

The B-List

kenny1703 — Wed, 06 Jun 2012 23:28:02 GMT

It’s just another day in the new financial-bizzaro world where any little piece of data may move the markets. Forget imploding Europe or mounting debt levels, the market “reportedly” went higher on a better than expected ISM Non-Mfg number.

You may ask, what the heck is the ISM Non-Mfg number anyways? It’s a gauge of new business orders from the Institute for Supply Mana...

Secret Trading Tip: What is day trading?

kenny1703 — Sun, 03 Jun 2012 22:20:25 GMT

Day trading is probably one of the most misunderstood labels in the industry. Some people might picture a random trader acting like a cowboy just buying and selling with pure abandon. Others might imagine a seasoned vet pouring over charts and analysis, looking for a chance to try to scoop up a few points here or there. Let’s set the record straight on what day trading does – and doesn’t – entail.