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Good Buy Opportunity for Silver Futures

Scott Hoffman — Fri, 20 Feb 2009 16:33:54 +0000

The bull market in precious metals paused yesterday; this correction was a good chance to buy silver.The green line in the chart below is the swing high from September 25th. 1393 has served as support for the past sessions; yesterday’s move below there proved to be merely corrective. Momentum (the bottom panel of the chart) [...]

Taking a Loss, Pt. 2

Scott Hoffman — Sun, 08 Feb 2009 18:16:13 +0000

I’m a futures broker. It’s been my business for the past 22 years, and in the course of my career, I’ve worked with hundreds of traders, from complete novices to traders with more experience than I. Some of the most valuable lessons I’ve learned have been about money management. The biggest trading mistakes traders make, [...]

Soybean Trade Analysis and Recap

Scott Hoffman — Mon, 02 Feb 2009 17:51:52 +0000

I’ve been watching the soybeans for a short sale the past couple of days; we had a good trade in them today. Below is the daily chart of March Soybeans. Today was a momentum sell short day for beans (see momentum in the bottom panel of the chart). MACD is bearish, but not so low [...]

Today’s T Bond Trade

Scott Hoffman — Wed, 28 Jan 2009 21:50:17 +0000

I had a few people ask about today’s T Bond trade, so I thought I’d write up a post mortem to give some insight into my thought process. Below is a daily chart for the March Bonds. Today was a momentum sell short day. The bottom panel of this chart is the two period momentum [...]

Midsession Comments for 1/28

Scott Hoffman — Wed, 28 Jan 2009 17:49:00 +0000

SPH: Holding near the session highs. 865.75 was a high from last week. Watch for the FOMC announcement at 1 PM. NQH: Really took off this morning. 1228 is next resistance. Bullish MACD crossover coming. ZBH: It’s a momentum sell short day today; the tight range and doji are probably lining up for a move [...]

Futures Watch List for 1/27

Scott Hoffman — Tue, 27 Jan 2009 14:15:49 +0000

TYH- 12309 double bottom DXH- 8431 is 40 day MA support, MACD has turned down, tested trendline support this AM. CDH- 8177 is 50% retracement resistance, 8100 is support GCJ-Quiet session so far, 892 support. Looking to buy. SVH-1177 support. Looking to buy. COH-Bullish, watch 2718 double top. 2806 upside objective Sugar-1315 resistance. 1268, 1252 [...]

Futures Watch List for 1/26

Scott Hoffman — Mon, 26 Jan 2009 14:42:27 +0000

SPH: Doji Friday, breaking trendline resistance. 840.88 is Fib resistance JYH: Doji Friday, trendline support at 11178 ECH: Bottoming? Breaking trendline resistance; MACD ready for a bullish crossover GCJ: Look to buy, 892 support SVH: 1177 support. HGH: Time for it to catch up to other metals? 155 .50 trendline resistance COH: 2718 was last [...]

Copper and the Economy?

Scott Hoffman — Wed, 21 Jan 2009 16:30:23 +0000

If copper is still considered a “tell” for the economy, worries are growing. Note that the 146 area has been a “pivot”, that is, is has served a both support and resistance for the past months. Yesterday’s rally and failure to take out the top trend line of the pennant was a bearish sign, and [...]

Swing Trader’s Insight-Today’s Canadian Dollar Trade

Scott Hoffman — Wed, 14 Jan 2009 17:16:12 +0000

I tried selling the Canadian dollar yesterday. MACD showed an incipient bearish crossover, and I was looking for followthrough selling when the red trendline was broken. Yesterday’s selloff ran out of gas, and reversed back up, stopping me out for a small loss. With the bearish MACD crossover in place, I was still looking for [...]

Today’s Yen Trade

Scott Hoffman — Wed, 12 Nov 2008 22:33:27 +0000

Although the Veteran’s Day holiday yesterday made me cautious about narrow range, doji bar yesterday, it gave a “trade” day, breakout setup today. See the Trade or Fade report below-it was a doji, the narrowest bar of the previous four days, and was nearly half the size of Monday’s. Given the Yen’s positive correlation with [...]