(10-28-12) Good end of week rally in the Dec. Long Bonds. We continue to trade the Bonds from the long side. We were buyers on Thursday's close at 146.28, selling on Friday's close at 148.02. We think the recent period of weakness in Treasuries is now over as fresh Euro-Asian fears begin to once again build. We will be looking for a continuation rally in the Dec. Long Bonds up to the 148.20 area.
Dec. Dollars continue to consolidate in the 80.00 area. However with Euros looking lower, we expect the Dollar contract will rally up for a test of 80.40 in early week trade.
Dec. Oil continues to hold the 85.00 area in late week trade. However with global inventories now building to a record, we would expect the Oil to come down for a test of 84.00 in early week trade.
For the rest of this column of commodity futures trading recommendations, go to independent trader Al Martin's website Insider Intelligence
* AL MARTIN is a market trader as well as an independent political/ economic analyst with 25 years of experience as a trader on NYMEX, CME, CBOT and CFTC.