The following are the latest daily summaries of my ongoing intraday coverage, providing context to interpret price action. Any prices listed are for a contract’s current “front month.” Their direction tends to correlate with any ETFs listed for each. Today’s Highlight: While gold and the euro each plunge into tests of very important targets, each is forming a pattern that tends to resolve either [...]

MINYANVILLE ORIGINAL Just as it takes two to tango, and the sound of one hand clapping is pretty useless, a spread can widen or narrow via the action of one or even both of its legs. Strangely, many commercial spread traders such as those involved in the soybean crush for firms such as Bunge (BG) or Archer Daniels Midland (ADM), or the crack spread for [...]

MINYANVILLE ORIGINAL It appears that once again someone’s bunny had a good nose and they dug into the option patch to bring home a bunch of tasty carrots just in time for Mother’s Day. Yesterday afternoon following the close, JPMorgan (JPM) held a surprise conference call to announce significant losses in structured-credit trading. Before that, the JPMorgan May $41 put options — the [...]

MINYANVILLE ORIGINAL Stephen Diggle is bullish on farming. The Singapore-based investor’s Vulpes Agricultural Land Investment Company, which currently owns corn farms in Illinois, and livestock and produce operations in Uruguay and New Zealand, announced plans to raise up to $150 million to expand operations into Africa and Eastern Europe. “Yield-producing safe assets are intrinsically more interesting,” Diggle said in a recent interview. [...]

The following are the latest daily summaries of my ongoing intraday coverage, providing context to interpret price action. Any prices listed are for a contract’s current “front month.” Their direction tends to correlate with any ETFs listed for each. Today’s Highlight : Gold tumbled to new lows that fulfilled its next objective, while crude oil fulfilled the retest of Sunday night’s low. These may [...]

In  recent years, a number of commodity investors have turned to equities to gain indirect exposure to their favorite hard asset. In most cases, this means investing in a mining company that physically pulls the commodity from the earth and readies it for use. But when it comes to miners, most investors tend to focus on a select few rather than the entire space. While [...]

Have you noticed gasoline has dropped 13% in the last five weeks? I didn’t, either, but it has. Gasoline futures topped out this year with an intraday price of $3.4278 per gallon on April 3. But they have pulled back substantially, dropping intraday to 2.91 per gallon. If you’re like me, you hardly noticed this change and that’s because the price at the [...]

The following are the latest daily summaries of my ongoing intraday coverage, providing context to interpret price action. Any prices listed are for a contract’s current “front month.” Their direction tends to correlate with any ETFs listed for each. Today’s Highlight: The long bond probed fresh highs after Friday’s Employment Situation report. It could be the start of something big, if it isn’t already [...]

The following are the latest daily summaries of my ongoing intraday coverage, providing context to interpret price action. Any prices listed are for a contract’s current “front month.” Their direction tends to correlate with any ETFs listed for each. Today’s Highlight: Crude oil’s pullback extended into a reversal, disappointing Tuesday’s unconfirmed breakout. The pattern is not yet bearish, although there’s nothing bullish about failing [...]

The following are the latest daily summaries of my ongoing intraday coverage, providing context to interpret price action. Any prices listed are for a contract’s current “front month.” Their direction tends to correlate with any ETFs listed for each. Today’s Highlight: The euro was trashed at Wednesday’s open. Its session low was not arbitrary, but critical support. Its test was not entirely rejected, so [...]