Wednesday, December 7, 2016
Wednesday, December 7, 2016 Morning Crude Comments from MB
Crude now having trouble with the $51.00 handle, increasing the likelihood we get a test of the $50.00 psyschological/technical level today. Given the EIA # today, going to have to widen entry criteria at least somewhat depending on volatility.
My ideas for the day do not include holding any position into the 9:30 # without a break even stop. However, a first hour (8:00-9:00 cst) or 10:30 - later test of $50.00 I like buying risking .15 to make .45. I’d also attempt to buy $49.70 anytime today, risking .25 to make .75.
From the sell side, I like selling $51.00 and adding at $51.20, risking .25 on the ave, while targeting .75.
$51.25 (***) TGT 3 + Strong Resist
$51.00 (**) TGT 2 + Stronger Resist
$50.75 (*) First Higher Target + Some Resist
$50.50 (*) Early Pivot
$50.20 (*) First Lower Target
$50.00 (**) Second Target + Support
$49.70 (**) Thirdy Target + Support
$49.10 (***)
All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC
Wednesday, December 7, 2016 Morning Bond Comments from MB
Small rally in bond market overnight, but a persistent market trying to lift a bid, another two handles higher and I think it will be a gift for shorts.
As for today, I like shorting the 151’20 price with smaller size and adding at 151’26, risking 16 ticks on the ave to make 32 ticks minimum. As an alternative, I could see having a smaller position buying 150’15 and adding small at 150’04, using a 12 tick stop on the ave to make 24-32 ticks. However, I like the sell much better.
151’26 (***) TGT 3 + Strong Resist Zone Begins
151’20 (**) Higher TGT 2 + Better Resist
151’08 (*) First Higher Target + Some Resist
150’31 (*) Early Pivot
150’15 (*) First Lower Target + Some Support
150’04 (**) Lower TGT 2 + Some Support
All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC
Tuesday, December 6, 2016
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