real estate and commodity update 9/8
An article about the real estate market as it relates to student housing.http://www.msnbc.msn.com/id/14041818/from/ET
gold
Gold finished much lower wrapping up at 617.3 basis Dec after trading as low as 613.5. There could be some renewed upside if the lower part of this range around 615.00 holds (range noted in earlier post). From a swing trade perspective, this market could take a breather and not go directly after the challenge of support, but instead languish over the short term with little meaningful movement -- noise as I like to call it. A brief reprieve from the recent slide would increase the likelihood of a continued slide.
corn
Again this market didn't have a whole lot to say on Friday. Positioning in front of the USDA report is oftentimes a whipsawing type of event with movements between support and resistence levels. You can almost bet that we'll be sitting right on top of one of these levels going into the report.
feeder cattle
The chart for feeders closed just below the old resistance level (before the most recent week), which could be a sign of near-term weakness if the market corrects to the downside. This is an entirely possible scenerio given the magnitude of it's recent strength to push to new contract highs. (Note: chart is from ProphetX)
sugar
This market was stronger Friday but closed below 12c. The chart shows that the sharp downtrend has not been negated, but the market is above the gap left in Nov-05. The pause below the downtrend still puts the burdon on the bulls to overcome that obstacle. Friday they couldn't get it done but next week's action could be important in determining whether we're pausing in the bigger downward thrust or if the majority the bearishness has been factored in. (Chart is from ProphetX)
cotton
The downtrend has accellerated and the market may target the contract low at 51.20. At the least, the more gradual downtrends will be challenging to reverse.
posted by jared @ 6:20 AM
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