Weekly Precious Metals Market Recap with Mike Seery

The precious metals had one of the best weeks to the upside in quite some time because of statements from Ben Bernanke coming out basically stating he’s going to continue QE3 forever which put the fire under gold prices up 4 days in a row before Friday as profit taking set in down about $3 at 1,277 an ounce after settling last Friday 1,212 now trading at 1,278 above its 20 day moving average but below its 100 day moving average and now has started to form excellent chart structure with a possible bottom being formed in recent weeks hitting a 3 week high in yesterday’s trade.

I have been bearish gold and the precious metals for quite some time but I’m recommending to sit on the sidelines with a possible break out to the upside which is pretty amazing as I’ve been bearish forever but the trend can change very quickly so I’m looking at gold to the upside if it breaks out above 1300.

Silver futures for the September contract are right at their 20 day moving average but below their 100 day moving average also at a 3 week high also developing excellent chart structure settling last Friday at 18.73 up around $1.00 this week currently going out around 19.78 an ounce and if you’re looking to get long this market I would buy a futures mini contract and place a stop below the contract low risking around $1500 per contract.

Copper futures which I have been bearish for quite some time and now I’m neutral because it hit a 10 day high in yesterday’s trade also with excellent chart structure settling at 3.0650 last Friday currently going out around 3.17 a pound trading above its 20 day moving average with a possible short term bottom in place as the entire precious metal sector is starting to look bullish.

I’m still advising traders to sit on the sideline and wait for a 4 week high before entering and that could be next week especially if we have tighter trading ranges but the tide may have turned as Ben Bernanke refuses to let commodity, housing and stock prices to go down & he will do anything in is power to keep printing money and keep artificially inflating prices that should be much lower in my opinion.

This man has way too much power in my opinion there are 7 billion people on this planet with one person dictating everything & I think that is out of control & has never happened in the history of the world and I do believe one day this will end in a total disaster and I do mean total disaster.

Click here to check in with Mike on other weekly futures like the grains, sugar, orange juice, cotton, lumber and coffee.
 

How to Find Key Levels in Precious Metals to Take High Probability Trades

New video: Today's Crude Oil Trade....Key levels, entry and exit points, with John Carter

We are feeling lucky today as our trading partner John Carter of "Simpler Options" is sharing some of his trading techniques and he is using crude oil as an example in today's video.

But the key isn't the oil trade example you'll see, it's the strategy someone taught John that makes the huge trade possible. That someone is none other then the Fibonacci Queen, Carolyn Boroden.

The short video makes available to you the same strategy John uses when he trades oil and how he identifies entry targets and when to take profits.

Click here to watch "Today's Crude Oil Trade....Key levels, entry and exit points, with John Carter"

Platts: ICE Brent futures lose previous quarter's premium to NYMEX WTI, Dubai

After a strong performance at the beginning of the year, the forward Brent complex lost some of its strength to WTI and Dubai crude futures in the second quarter of 2013 on a combination of European demand woes and stronger East and West crudes.

The narrowing of the spread between the ICE Brent futures and NYMEX light sweet contract, known as Brent/WTI spread, was a notable change in the quarter.

Toward the end of June, the ICE Brent front-month futures contract narrowed its premium to front-month NYMEX crude to below $6/barrel, more than halving from the beginning of the quarter. (A trend which of course has continued, with the spread tumbling below $5/b and even $4/b in just the first three days of July.)


Here's a short video in which John Carter shows how he trades oil and how he identifies targets when to take profit.

New video: Carolyn Borodens "Secrets to Maximizng your Profits and Minimizing your Risk"

In today's new video from John Carter he shows us how the strategies taught to him by our very own Carolyn "The Fibonacci Queen" Boroden helped him make 93k because Carolyn made it clear how to use her secrets to know when to exit these big trades.

You may recognize Carolyn from CNBC, but she's trading with us now. If you have been following the Crude Oil Trader then you know John Carter has made us a lot of money in 2013. Bringing in HIS instructor, one of the real "hot hands" on Wall Street, is going to take all of us to another level whether you are trading commodities, equities, currencies or options.

Click Here to Watch Video

Here's what John will be covering in this video. You'll learn......

• How to Know When to Enter a Trade

• How to Know When to Take Profits

• How to Find Key Levels to Take High Probability Trades

• How to Time Your Trade for Maximum Profit

• How to Minimize Your Risk

Just click Here to Watch Carolyn Bordens "Secrets to Maximizng your Profits and Minimizing your Risk"

Rigzone: Rail Delivery of Oil, Petroleum Products Continues to Increase

From Robin Dupre at Rigzone.....

With U.S. crude oil producing at record amounts and outstripping pipeline capacity, the country is relying heavily on railroads to move new crude oil to refineries and storage centers, reported the U.S. Energy Information Administration (EIA) Wednesday.

The total amount of crude oil and refined products being transported by rail is close to 356,000 carloads during the first half of 2013, up 48 percent from the same period last year, according to Association of American Railroads.

“U.S. weekly car loadings of crude oil and petroleum products averaged nearly 13,700 rail tankers during the January to June 2013 period. With one rail carload holding about 700 barrels, the amount of crude oil and petroleum products shipped by rail was equal to 1.37 million barrels per day during the first half of 2013, up from 927,000 barrels per day during the first six months of last year. Crude oil accounted for about half of the 2013 daily volumes," reported AAR.

"Increases in rail transportation multifactor productivity can be traced to technical progress, such as improved capital inputs and technological changes in the form of improved methods of service delivery. Improved technology for locomotives, freight cars, and track and structures have increased reliability and reduced maintenance needs," added the United States Department of Transportation.

A large portion of the produced crude oil is from North Dakota where there is not enough pipeline capacity to move supplies, therefore dependency on delivery of oil by rail is substantial. North Dakota currently ranks as the second largest oil producing state after Texas, reported EIA.

"The roughly 700,000 barrels per day of crude oil, which includes both imported and domestic crude oil, moved by rail compares with the 7.2 million barrels of crude oil the United States produces daily," added EIA.

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Shell Names Ben van Beurden as new CEO

Shell (RDS.A) has named Ben van Beurden, the head of its Downstream business, as CEO to replace Peter Voser, who had already announced he is leaving the company. Van Beurden will take over in January next year. He joined Shell in 1983 and has held a number of technical and commercial positions in the company's Upstream and Downstream operations.

A "solid Shell man," new CEO Ben van Beurden has worked for Shell [RDS.A] for 30 years, turning around the chemicals business and spending 10 years in its liquefied natural gas business. But Chairman Jorma Ollila's comment that the new CEO would "continue to... develop the strategic agenda we have set out" suggests there's no real change ahead - which leaves little for investors to get excited about.


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The 30 Second Technical Flash Chart Report on U.S. Equities

Chris Vermeulen shows us how U.S. Equities opened higher on Monday and are, in his opinion,  setting up for a sharp pullback based on technical analysis using trends, cycles, momentum, volume, market breadth and key resistance zones.

Take a look at his chart work for a quick flash of what he thinks.

Entire article > "The 30 Second Technical Flash Chart Report on US Equities"



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Technical Analysis Video – Precious Metals, Crude Oil, Bonds, SP500

What a great way to start our week. Our trading partner Chris Vermeulen has just released a new video covering precious metals, crude oil, bonds and the SP500. Do you think WTI crude oil is topping out here? Is gold bottoming? Let's see how Chris is trading this market this week.

Just click here to watch "Technical Analyis Video – Precious Metals, Crude Oil, Bonds, SP500"


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Weekly Precious Metals Market Recap with Mike Seery

It's time to check in with our trading partner Mike Seery on where he sees precious metals heading for the end of the 1st week of trading in July.

The precious metals continue their downturn as higher interest rates are pressuring gold down $37 an ounce at 12.14 which is a new closing low and as I’ve been telling people through many previous blogs to keep selling the precious metals as there really is no reason to own gold since deflation is in the air not inflation.

Silver futures are down $.95 in the July contract at 18.75 looking to retest recent lows with the possibility of prices going down to the $15 level here in the next couple of weeks as the tide has turned in the commodity market.

I have been recommending a short copper position for quite some time as copper was absolutely pummeled today down 1100 points at 3.06 a pound placing a stop above the 10 day high which is 3.17 and I do believe copper prices are headed steadily lower possibly down to 2.50 in the next 4 to 6 weeks as demand has weakened tremendously in China and higher interest rates will put the kibosh on copper prices in my opinion.

All of the precious metals are trading far below their 20 and 100 day moving average and I believe that will continue for quite some time as the U.S dollar is the place to park money due to the fact that interest rates are much higher here than overseas which will continue to put pressure on the precious metals in my opinion.

Precious metals trend....lower, Chart structure.....excellent.

Here's more commodity news [including sugar, grains, orange juice, cotton, coffee] from Mike for the first week of July....Just click here.

Leading Sectors, Cycles and Momentum Point To Drop This Week

Chris Vermeulen's trade set up for the first week of July.....

As talked about almost two weeks ago when the SP500 trend reversed to the down side we have been waiting for a bounce in price to short the market (buy and inverse ETF). That happened last week and now we are waiting for the market to shake out the short positions and suck in as many traders to get long before the next wave of major selling takes place.

It seems traders are becoming bullish again as prices rise and they are dumping their precious metal positions and rotating into equities again from the looks of things. Also if you know the Dow Theory then you know the industrial and transportation sectors tend to lead the broad market. Well today the only two sectors trading lower are just those two.

See the charts for a visual