Here's COT contributor Chris Vermeulens technical take on these markets including the U.S. Dollar, crude oil, natural gas, gold, silver, bonds and the SP 500 index........
* Dollar index 4 hour chart is forming a bear flag. Until the lower blue support line is broken the flag will continue higher.
* Crude oil has a big pop yesterday as it continues up its support trend line. It looks as though it may take a run at the $100 per barrel level over the next 1-2 weeks.
* Natural gas had bullish inventory numbers yesterday sending the price sharply higher. It tagged our $4.50 resistance price but could not close above it. This morning it is trading above that level and may confirm a breakout.
* Gold continues in a clear down trend with high volume resistance, down trend line and a moving average holding it down. It seems everyone is turning bullish here on gold, but in my contrarian view that is signaling another short term top. Stick with the trend until proven wrong.
* Silver is trading similar to gold. Still in a down trend but is much more volatile.
* Bonds have been pullback since the December and have formed a falling channel. Price remains bearish which is actually bullish for the stock market.
* SP500 index continues its uptrend but is trading at a 2% premium above my key support/trend moving average. The SP500 has the potential to drop 2-4% at any time and if so we will be looking to get long with the overall trend.
Click here to see all the charts and more details on all of these trades
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Friday, January 18, 2013
Thursday, January 17, 2013
Schlumberger Declares 13.6% Increase in Quarterly Dividend
The increased dividend of $0.3125 per share of outstanding common stock is payable on April 12, 2013 to stockholders of record at the close of business on February 20, 2013.
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As Supply Glut Eases, Gulf Refiners Likely to Benefit
Earlier this month, the Seaway Crude Oil Pipeline Co. completed an expansion that boosted crude capacity to 400,000 barrels a day, nearly triple previous levels, between the Cushing, Okla., storage hub and the Texas Gulf Coast. Last May, the pipeline's inland flow was reversed amid efforts to address a glut in the central U.S.
The Seaway Pipeline expansion "allows Gulf Coast refiners to participate in the raw material advantage that we’ve seen in the Midwest," industry consultant Andy Lipow told Platts Oilgram News. "I anticipate seeing Gulf Coast refiners running high operating rates, [which will] translate the crude oil surplus into a petroleum products surplus, given the stagnant demand for refined products in the U.S.," he added.
Refining margins along the Gulf are expected to improve with the influx of "advantaged" crudes, but eventually regional crude prices will come under pressure from the new supply, analysts said. The WTI-Brent spread narrowed sharply earlier this month, as the Seaway expansion renewed market optimism that additional export capacity will help cut heavy stockpiles at Cushing.
Read the entire report
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Wednesday, January 16, 2013
Kinder Morgan Reports 4th Quarter Earnings KMP KMR KMI
This represents an 11 percent increase over the fourth quarter 2011 cash distribution per unit of $1.16 ($4.64 annualized) and is up from $1.26 per unit ($5.04 annualized) for the third quarter of 2012. KMP has increased the distribution 46 times since current management took over in February 1997.
Chairman and CEO Richard D. Kinder said, “KMP had a strong fourth quarter and a very successful year overall. We will distribute our budget of $4.98 per unit for the full year, which represents an 8 percent increase over the 2011 distribution of $4.61 per unit.
KMP also produced cash in excess of our distribution target of approximately $30 million. For 2012, all five of KMP's business segments recorded higher results than in the previous year and generated $4.384 billion in segment earnings before DD&A and certain items, a 20 percent increase from $3.639 billion in 2011.
Summary: Quarter 4 EPS of $0.61 misses by $0.03. Revenue of $2.51 billion beats by $0.06.
Read the entire Kinder Morgan earnings report
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Is it an MLP that Icahn is Really After in Transocean?
Transocean’s announcement this week that Icahn bought 1.56 percent of its shares and sought regulators’ permission to own more than 3 percent stirred a debate in the investment community as the activist investor known for shaking up companies remained silent about his intentions. He’s jumping in less than two weeks after Transocean agreed to pay the U.S. $1.4 billion to settle its liability in the 2010 Gulf of Mexico oil spill.
With the company already in turnaround mode, the shares have led peers with a 34 percent gain over the past year, some investors and analysts said they expect the 76 year old to push for Transocean to create a master limited partnership, or MLP, to raise cash for the parent company and spur growth with its tax free structure.
It would be the second drilling rig partnership after Stavanger, Norway based Seadrill Ltd. (SDRL) spun off assets to create Seadrill Partners LLC (SDLP) in October.....Read the entire Bloomberg article.
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Progress Energy Chooses TransCanada to build new LNG Pipeline
“From a trading perspective, we view today's announcement as an unexpected positive development that should provide support for [TransCanada] shares,” said Pierre Lacroix, an analyst at Desjardins Securities Inc., according to Bloomberg.
Read the entire PennEnergy.com article
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Tuesday, January 15, 2013
Carley Garner Gives Cramer the Numbers for Natural Gas
One of our favorite people to follow in the commodities sector is Carley Garner. You may know her best as the author of "A Trader's First Book on Commodities".
Well she has set us up a nice trade over the next 4 to 6 weeks, watch it here as Jim Cramer lays out the numbers and the trade. Carley tells us, "If you are interested in bullish strategies in natural gas, you will likely be better served waiting for more favorable entry levels".
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Well she has set us up a nice trade over the next 4 to 6 weeks, watch it here as Jim Cramer lays out the numbers and the trade. Carley tells us, "If you are interested in bullish strategies in natural gas, you will likely be better served waiting for more favorable entry levels".
Get our Free Trading Videos, Lessons and eBook today!
Statoil Leads the way in Norway Energy Auction
Shell (RDS.A) and Total (TOT) received the most operatorships among non Norwegian firms, with four each; they received five and eight licenses, respectively. XOM, CVX and COP also picked off a few licenses.
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Learn from the Master...."Live Options Strategy Webinar"
This Thursday, John Carter from "Trade The Markets" is conducting a free "Live Options Strategy Webinar"
John's agreed to teach YOU the strategies he plans on using in 2013...no matter what size your account or level of activity.
Here are the details:
Date: Thursday, January 17th Time: 8:00pm Eastern Time (New York Time)
Click Here To Register
In this webinar John will show you ...
... His 3 favorite options trading strategies,
... How to find high probability trades,
... How to manage options trades,
... His trading rules for doubling his $500,000 account ......and more.
So mark your calendar for Thursday night, January 17th at 8:00pm Eastern Time (New York Time).
Click Here To Register Now
John's agreed to teach YOU the strategies he plans on using in 2013...no matter what size your account or level of activity.
Here are the details:
Date: Thursday, January 17th Time: 8:00pm Eastern Time (New York Time)
Click Here To Register
In this webinar John will show you ...
... His 3 favorite options trading strategies,
... How to find high probability trades,
... How to manage options trades,
... His trading rules for doubling his $500,000 account ......and more.
So mark your calendar for Thursday night, January 17th at 8:00pm Eastern Time (New York Time).
Click Here To Register Now
The Technical Traders Morning Charts
Yesterday’s trading session played out exactly as posted in the morning chart update. Today will be a different story from the looks of it as the dollar index looks to be putting in a bottom and that has the SP500 down 0.40% this morning. It may trigger our first entry point to let long stocks today.
Crude oil has been trading sideways/higher the past week but the on balance volume clearly shows sellers are unloading contracts at the $94 level. Yesterday we talked about how crude oil was walking a fine line up its support trend line and once that breaks look out! Price is holding up but be aware it could drop fast and hard any day here....Check out all of this mornings charts for the U.S. Dollar, crude oil, natural gas, SP 500 futures, gold, silver and bonds.
The Technical Traders Morning Charts
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Crude oil has been trading sideways/higher the past week but the on balance volume clearly shows sellers are unloading contracts at the $94 level. Yesterday we talked about how crude oil was walking a fine line up its support trend line and once that breaks look out! Price is holding up but be aware it could drop fast and hard any day here....Check out all of this mornings charts for the U.S. Dollar, crude oil, natural gas, SP 500 futures, gold, silver and bonds.
The Technical Traders Morning Charts
Get our Free Trading Videos, Lessons and eBook today!
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