Is crude oil currently oversold, or headed as low as $32.50? The answer could be yes to both, depending on the time frame one looks at.
The selloff in crude oil has been sharp, fast and powerful. Six months ago we were trading at $107! This week's low was $53.50 - EXACTLY HALF the value from June 2014.
Warfare with Markets Instead of Bombs? Warfare with Markets Instead of Bombs?
It is my pure speculation that...
9:00 AM CST - Existing Home Sales(Nov)
2:00 PM CST - Cold Storage
12/23
Tues
7:30 AM CST - Durable Orders(Nov)
7:30 AM CST - Durable Goods-Ex Transportation(Nov)
7:30 AM CST - GDP-Third Estimate(Q3)
7:30 AM CST - GDP Deflator-Third Estimate(Q3)
8:00 AM CST - FHFA Housing Price Index(Oct)
8:55 AM CST - Michigan Sentiment-Final(Dec)
9:00 AM CST - Personal Income & Spending(Nov)
9:00 AM CST - PCE Prices-Core(Nov)
9:00 AM CST - New Home Sales(Nov)
2:00 PM CST - Quarterly Hogs & Pigs
FN: Jan Crude Lt(NYM)
LT: Jan Copper Options(CMX)
Jan Gold Options(CMX)
Jan Silver Options(CMX)
12/24
Wed
CHRISTMAS EVE
6:00 AM CST - MBA Mortgage Index
7:30 AM CST - Initial Claims-Weekly
9:30 AM CST - API & DOE Energy Stats
11:00 AM CST - EIA Gas Storage
3:00 PM CST - Dairy Products Sales
12/25
Thurs
CHRISTMAS DAY
12/26
Fri
7:30 AM CST - USDA Weekly Export Sales
LT: Jan 2,5,10 Year Notes Options(CBT)
Jan Bonds Options(CBT)
Jan Wheat Options(CBT)
Jan Corn Options(CBT)
Jan Oats Options(CBT)
Jan Rough Rice Options(CBT)
Jan Soybeans,Soymeal,Soyoil Options(CBT)
Jan Natural Gas Options(NYM)
Jan RBOB & ULSD Options(NYM)
12/29
Mon
LT: Dec Copper(CMX)
Dec Gold(CMX)
Dec Silver(CMX)
Dec Platinum(NYM)
Dec Palladium(NYM)
Jan Natural Gas(NYM)
* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.
** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.
*** This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading!
RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.