Monthly Archives: February 2011

Trading News – Unemployment claims drop to 2 1/2 year low.

WASHINGTON, Feb 10 (Reuters) – New U.S. claims for unemployment benefits dropped more than expected last week to touch their lowest point in 2-1/2 years, a government report showed on Thursday, offering assurance that the labor market was strengthening despite January’s poor jobs numbers. Initial claims for state unemployment benefits fell 36,000 to a seasonally… read more

Swing Trading Strategies – Dow Jones hits new high on projected reversal date. [chart]

The Dow Jones futures traded to a new high (12218) before failing and dropping below the low of the prior pivot low. This price action has formed a possible peg-leg topping pattern. It is also important to not that the new high and possible failure, occurred on a projected reversal date I will have more… read more

Energy News – EIA report show Gasoline stocks at 20-year high.

* Crude stocks rise 1.9 mln barrels to 345.06 mln * Gasoline stocks up 4.66 mln barrels at 240.89 mln * Cushing inventories fall 927,000 bbls to 37.41 mln * Distillates rise 288,000 barrels to 164.37 mln NEW YORK, Feb 9 (Reuters) – U.S. crude oil inventories rose in line with expectations and gasoline stocks… read more

Swing Trading Strategies – British pound could have one more push higher to end the cycle. [chart]

March British Pound – The two reversal dates—January 25 and January 31—provided support for the quick rally into the ascending median line target objective. The pound tested the median line, as well as the prior swing high at 1.6229, posted on November 4, 2010) before turning lower and trading lower into the minor reversal date… read more

Swing Trading Strategies – Natural gas drops through trigger price to confirm sell signal, what’s next? [chart]

TMV Swing Trading Report – Short March Natural gas – The bearish reaction was confirmed early in today’s session when N-gas traded thorough the 4.250 trigger price. The market quickly traded through the downward sloping median line and is currently trading below the line. For updated information on this trade, or to see new swing… read more

Grains Opening Calls and News / Futures Broker

WHEAT – Up 8 to 10 cents per bushel. Active export sales of U.S. wheat and news Egypt made its first purchase of wheat in nearly a month combine to boost wheat futures with further support from concern about harm to the U.S. crop from a cold snap this week. CORN – Up 3 to… read more

Trading News – Employment number less than expected.

NEW YORK, Feb 4 (Reuters) –  U.S. employment rose far less than expected in January, partly the result of severe snow storms that slammed large parts of the nation, but the unemployment rate fell to its lowest level since April 2009. KEY POINTS: *   Nonfarm payrolls grew just 36,000, the Labor Department said on… read more

Trading News – US Jobless Claims Tumble 42,000 last week.

WASHINGTON, Feb 3 (Reuters) – New U.S. claims for unemployment benefits dropped more than expected last week, a government report showed on Thursday, pointing to continued gradual improvement in the labor market. Initial claims for state unemployment benefits tumbled 42,000 to a seasonally adjusted 415,000, the Labor Department said, unwinding most of the previous week’s… read more