Futures Trading Recommendations
by AL MARTIN (INSIDER INTELLIGENCE)
Continue Trading Long Bonds from Long Side on Dips. As Gold Remains a Sell
(6-1-14) Once again we were buyers of the June Long Bonds on our standing order three times midweek at 138.01. We were able to take a quarter point out of the Bonds each time although the Bonds are now looking tired in the 138.16 or better area. Continue to buy them on dips down to 137.24 till the tapes tell you otherwise.
The June Oil â€“ we had warned of overvaluation above 104. We were short from 104.40, carried that short until the end of the week, covering at 102.86 on the close Friday. Oil remains overbought at current levels.
We had warned of further downside action coming in the Aug. Gold contract. We were short the Gold again on the break of 1270. Gold came down to 1242, next down support levels holding for now, but we suspect that the Gold will be a sell again on any retrace back to 1260.
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