Bill Cara’s Blog for Apr 2, 2012
CTA Trading Desk Morning Report
[8:45am ET] Good morning, Geoff here.
As Bill mentioned in the WIR, we added to energy stocks last week because we like the space long term. We saw weakness and then on Friday, a number of Cara 100 stocks in the energy sector bounced off of oversold levels after XLE found support on the 200 dma on Thursday. The probability of a successful long trade rose and we now have defined area to place stops. If the trade works out, it should do rather well and if it doesn’t, our stops will hit and our losses will be small relative to the possible gains.
We are also watching for the coming lift-off in gold. I have been saying that it will probably be sometime in the last two weeks of April, but with sentiment extremely negative, gold could move higher at anytime.
A break of the February lows in the dollar may mark the lows in gold, energy and material stocks. When it comes it could be fast and furious so get your shopping list together and get ready to buy because this trade could make your year.
Don’t be asleep at the switch.
Have a great trading day!
Here are the 7:00am ET snapshots of the latest equity market trading results for Europe, and futures prices plus 5-minute charts of the futures for S&P 500, 30-year US Treasury Bond, US Dollar index, Gold and Crude Oil.
|Symbol||Name||Last Trade||Change||Related Info|
||12.65 (0.59%)||Components, Chart, More|
||18.80 (0.81%)||Components, Chart, More|
||14.05 (0.41%)||Chart, More|
||13.78 (0.20%)||Components, Chart, More|
||2.91 (0.90%)||Chart, More|
|^OSEAX||OSE All Share||481.17
||0.67 (0.14%)||Components, Chart, More|
||1.64 (0.48%)||Components, Chart, More|
||8.48 (0.14%)||Components, Chart, More|
||25.50 (0.44%)||Components, Chart, More|
||4.80 (0.49%)||Chart, More|
||8.89 (0.59%)||Chart, More|
|GD.AT||Athex Composite Share Price Index||715.06
||13.87 (1.90%)||Chart, More|
The team will check in during the day, reporting in the Discourse when there is a new entry.
Enjoy your day.
Cara on Trends & Cycles
Vad’s Catch of the Day
Kaimu’s Sound Money
CTA Trading Desk Mid-Day Report
CTA Trading Desk Post-Close Report