Saturday, February 7, 2015

Gold for the Weekly Close 02/06/2015 - AE

GCNYNF-W.jpg 02-06-2015
Gold peaked on our target week at the 1307 level failing to get through the first line of key resistance at 1310 intraday. Gold also failed to close above 1298 on a weekly basis. Today, the key support lies at the 1226 level and a weekly closing beneath this area is require for the break. Keep in mind that volatility should start to rise for the next two weeks and we see turning points targeted for the weeks of 02/16 and 03/02. Everything else remains on track.
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Stay Away From Crude Oil

Crude Oil Futures--- Crude oil futures in the March contract finished up around $1.50 a barrel closing around 52.00 after settling last Friday at 48.24 experiencing one of the best rallies we’ve seen it many months as prices are trading far above their 20 day moving average as I have not been able to say that in 6 months but still below their 100 day moving average which stands at $64 a barrel as I am neutral this market as I was recommending anybody who was short to place your stop at the 10 day high which was 49.20 as that stop was very beneficial as prices have rallied over $3 since that level was hit. (more)

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Auto Subprime Loans In Trouble – Danielle Park –

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China warns of Crisis far greater than 2008

China Ratings Agency warns of massive Western Debt bubble that will implode Western Economies much worse than in 2008
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Workday Inc (NYSE: WDAY)

Workday, Inc. provides enterprise cloud applications for global human resources and finance in the United States and internationally. It offers applications for customers to manage critical business functions that enable them to optimize their financial and human capital resources. The company was formerly known as North Tahoe Power Tools, Inc. and changed its name to Workday, Inc. in July 2005. Workday, Inc. was founded in 2005 and is headquartered in Pleasanton, California.
Take a look at the 1-year chart of Workday (NYSE: WDAY) below with the added notations:
1-year chart of Workday (NYSE: WDAY)
After WDAY’s March and April decline, the stock has been trading mostly sideways since. Along the way, you will notice that the stock has created an important price level at $85 (green). That level has been both support and resistance several times over the last 6 months. For the last 2 months WDAY has repeatedly stalled at that $85 resistance, and a break through that mark should lead to higher prices.

The Tale of the Tape: WDAY has a key level at $85. A trader could enter a long position on a break above $85 with a stop placed under the level. However, if traders are bearish on the stock, or the market overall, a short trade could be made at the $85 level instead.
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Scotts Miracle-Gro (NYSE: SMG) in a strong uptrend

Even where I live in Canada, glimpses of bare brown earth are starting to dapple white snow. It's not yet time for me to plant my garden, but that moment is not far off.

I'm not alone in my interest to grow some of my own food. Gardening ranks as one of the most popular outdoor leisure activities in North America. Additionally, the National Gardening Association reports that a well-maintained garden can help save you several hundred dollars a year in food costs.

Gardening is expanding beyond backyard plots, as community gardens and even urban apartment gardens increase in popularity.

A key beneficiary of this increasing interest in gardening is Scotts Miracle-Gro (NYSE: SMG)(more)

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Use the Fund Driven Rally to Sell Soybeans

We had been noticing for the past week how open interest was increasing rather dramatically in both corn and soybean futures. The COT data had confirmed that funds were holding a large net short position in soybean futures. It was fund buying that finally drove soybean prices over 35 cents higher on Tuesday, February 3rd. It appears that fund buying, in tandem with a sharp rise in crude oil, copper, corn and wheat finally exhausted the sell paper resting above the market, resulting in a sharp one-day rally. If the rally continues a couple more sessions, we'll be interested in selling the May soybean contract and/or establishing bearish option strategies. In addition, for our producer/hedger clients, we'll be looking at adding to our short November 2015 hedges.  (more)

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