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| 5 Hot Picks by Phil Flynn of Alaron | |
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 Phil is Vice President, Energy and General Market Analyst with Alaron Futures and Options and is one of the world's leading energy market analysts. His market commentary, fundamental and technical analysis, and long-term forecasts are sought by industry executives, investors and media worldwide.
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An oil bloodbath; the bulls and bears are fighting to a stale mate in this market. Oil has supplies near 20-year highs yet oil stays strong. With the May contract going off the board on Tuesday, the June contract will continue this epic bull versus bear battle. We think the Bulls will win but not before a big break. Look to buy June crude in the $45 a barrel area with a stop below $43.
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Refinery runs are near record lows, yet the summer driving season is right around the corner. Demand has been weak as well, averaging 9 million barrels a day, down 0.4 percent from a year ago. So is it possible that the RBOB gasoline contract can rally? The Month of April is a historically strong one for gasoline yet the market is moving sideways. We feel that the next big break should be bought around 140.
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The new copper standard?? Last week copper went on a tear as China seemed to be on a copper buying binge. Speculation centered on the thought that the Chinese would buy copper and perhaps other commodities as opposed to US treasuries. Look to buy July copper if it pulls back around $200.
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Pull out the grill! Despite the slowing economy, when the weather warms up the grills start smoking. Lately the June Cattle contract has responded to this seasonal with a very strong bull run, part of that is that farmers have cut back the heard in anticipation of a softer demand. The cattle-on-feed report was called neutral on Friday, yet to me that mean the uptrend will continue. Look to buy breaks.
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Someone needs to eat more chocolate. The Prospects for the cocoa market seem to get more bearish by the moment. The Technical setup is ominous as a head and shoulders formation seems to signal that cocoa can continue its recent downtrend in a big way. July Cocoa looks like it's ready to drop big! Sell rallies.
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| 5 Hot Picks by Sterling Smith of FuturesOne | |
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 Sterling Smith is developer and publisher of the Strategic Traders Index, and a 17-year market veteran. Registered as a CTA he is often quoted by the Wall Street Journal, Down Jones News, Bloomberg, Reuters, and has been a frequent guest of WFLD Fox News Chicago. Sterling works with clients of all sizes to help improve their trading.
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S&P 500/Dow has had a great run since posting the lows in March, and the weekly and monthly charts remain very supportive. The daily chart however is getting somewhat overextended, and we should look for a pullback early this week, which should be followed be a rally. This holds true for the NASDAQ as well.
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| High grade copper as also been a shinning star since making its lows at the very end of last year. Weekly and monthly charts here are supportive, however we should not be surprised to some profit taking and a pull back here. The funds have been holding a very large short position that has been supportive, to keep track of this and other COT data make sure to
get my STI report every week. | |
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Gold has not been fairing so well of late,
but I am seeing some signs of support early this morning. I am looking
for a short-term rally this week, I would keep any grand designs of a
sudden rally to 1000/oz and beyond on the back burner for the time
being
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Crude (I am following June) is getting a bit of a heavy look to it, and a couple of closes below 50.00 would signal a move back to the $45.00 area.
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Coffee has solid fundamentals, but given the current macro situation this market is having trouble getting sustained traction. Reality will set in here sooner or later, and possibly in a big way, so I am looking for a recovery rally this week, with continued fit and start action for a little while.
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