Jack McGrath with TJM INSTITUTIONAL in Chicago will produce Technical Analysis and Fundamental content pertaining to Futures and Commodities.  Jack's primary focus remains on products at the CME/BOT. Jack is very insightful and knowledgeable about the Credit Markets (Options knowledge as well).  Contracts Jack highlights here and via his web casts are Eurodollars, U.S. Treasuries and Indices and occasionally foreign currency markets.

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If you would like immediate notification of Jack's Technical posts please follow "NakedTradercom" on TWITTER or join our FACEBOOK group. Jack's technical input can be seen on his daily morning webcast. You can contact Jack at jmcgrath@tjmbrokerage.com.

 

 

Wednesday February 22, 2012

CL WEEKLY CHART

Check it out, crude oil breaking out, good for $11 higher. Breakaway gaps on daily and weekly charts, it is going to get interesting. Here is the big question, is this what puts pressure on stocks? I think it will.

 

 

Tuesday February 21, 2012

EDM5 daily chart

We are seeing a break down in M5. We have broken the neckline (off H&S top), and trendline. Look for old highs to be tested, (what was resistance is now support)  98.335.

 

H3 SHORT STERLING

Remember a reversal is possible trend change, but not for certain, Also, keep an eye on 50 day mvg avg comes in at 98.91

 

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NOTE: Looking for EDM2 to trade down a little more 46/45 is support,buy this level first time down 53 is 21 day mvg avg s/b  resistance

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June Sterling Daily - possible bear flag

 

Thursday February 16, 2012

Moody's May Cut Ratings of Some of Biggest Banks



New York (AP) -- Moody's Investors Service says it may
lower the ratings of some of the world's largest banks as well
as those of some securities firms because their long-term
prospects for profitability and growth are shrinking.
Some of the banks under review for downgrades include
Citigroup, Bank of America, Goldman Sachs, JPMorgan Chase and
Morgan Stanley.

The announcement comes just days after the ratings agency
said that it was cutting the ratings of Italy, Portugal and
Spain partly because of Europe's weakening economy.
Moody's said late Wednesday that nine of the 17 banks and
securities firms under review are headquartered in Europe. The
agency said that it is concerned that banks with significant
capital market activities are dealing with challenges such as
widening credit spreads, delicate funding conditions and
increased regulatory requirements and restrictions.

 

Tuesday February 14, 2012

Bullish formation outside range with possible reversal, look to buy with a close above 99.16. If we close above 99.16  tomorrows objective is a higher high. I like that 99.21 area s/b resistance short term.

 

PLOSSER:

Further monetary accommodation by
the Federal Reserve would lead U.S. "down a very treacherous
path" and boost already "substantial risk of higher
inflation," Philadelphia Fed president Charles Plosser said
during a speech in Newark, Delaware.
* Risks to economic stability if Fed does more "could be
quite high" and "jeopardize" Fed's ability to achieve
long-term goals
* Prolonged efforts to keep rates near zero can lead to credit
bubbles, financial market distortions, misallocation of
resources
* Econonomic conditions since late last year do not call for
further accommodation
* Economy should grow "slightly above trend" at around 3% in
2012 and 2013
* Housing should stabilize, not improve much in 2012
* Housing, related sectors not likely to return to pre-
recession highs
* Net job gains "a clear positive trend"
* "Significant risk" to U.S. is sovereign-debt crisis in
Europe
* Inflation risks likely to remain "modest" in near term,
price gains should settle around 2% in 2012

* NOTE: Plosser dissented against Fed decisions in August to
keep rates low through at least mid-2013 and in September to
initiate "Operation Twist"

 

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OI ED$ Options     

EDH2 95p -17.5

EDJ2 93p +40k

EDM2 92p +13k

 

Monday February 13, 2012

EDM2 daily

EDZ3/EDZ4

We have seen a buyer in this spread this morning 48.5/5k, currently 48/48.5 mkt. I'm looking for the uptrend in this to resume this week, look for 54 to be tested.

 

Buyer this am M 92/93 ps 1.25/3k   1/1.25 mkt this traded on    
Friday as well

Friday OI                                                      EDM2 92p + 12k                                                  EDM2 93p +19k

 

 

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