The Commodities Review For the Week of October 31, 2011

The Metals Review
For the week of October 31, 2011​

By Daniel Cronin

Well the news from the BOJ created a sell off throughout the metals as gold and silver were both down big along with copper. Gold quickly sold off on the intervention news and went down $30. $1,700 is a good support area and I like that around there on a play back to the upside. Copper touched the huge resistance of 3.75 and quickly shot down to 3.57 as this market will look to consolidate once again.

***chart courtesy
Gecko Software’s Track n’ Trade Pro
Past performance is not necessarily indicative of future results.​

The Energies Review
For the week of October 31, 2011​

By Daniel Cronin

Huge news over the weekend as the bank of Japan intervenes on the yen causing it to tumble dramatically Sunday night with the yen losing more than -600 points at one point. Crude sold off as well below $93 on the news as most markets were down big. Crude is now in a trading range from $90 to $94 and will look to hold there through this week. Wti spreads have found the footing from last week's decline towards the end and I like buying this spreads in the dip. Keep an eye out for the yen this week as it will dictate how the market will play.

The Financials Review
For the week of October 31, 2011​

By Frank LaMantia

MF Global seems to be on its last leg as the Federal Reserve suspended any business that the company can perform. Shares have been halted and Interactive Brokers may bid in a supervised auction. MF Global may see Chapter 11 bankruptcy after investing in European bonds that back sovereign debt. (1) New rules caused Credit Suisse to cut 1,000 jobs in its investment banking unit. In July the bank mentioned it was planning to cut over 2,000 jobs. There are plans to cut the dividend and cut assets that are risky by $100 million, to reduce the chance of a future financial crisis. (2) After the close today Anadarko Petroleum and Herbalife will announce earnings. Anadarko has found profits in Mozambique and could surprise the industry in the distant future. Herbalife is said to be beating its competitor Avon. (3) There is negative vibe to the markets this morning as Japan intervenes to help the Yen and that Europe may have red tape to clear for austerity measures. Also, HomeServe cannot make outgoing calls after being accused of mis-selling products. A retraining program has been implemented so that staff can provide better information to clients when it comes to products and pricing. (4)

1) http://finance.yahoo.com/news/Report-MF-Global-to-seek-Ch-apf-590521534.html
2) http://finance.yahoo.com/news/Credit-Suisse-to-cut-1000-rb-702668909.html
3) http://www.cnbc.com/id/45077472
4) http://www.cnbc.com/id/45100161

***chart courtesy
Gecko Software’s Track n’ Trade Pro
Past performance is not necessarily indicative of future results.​

Disclaimer: Past performance is not indicative of future results. Trading futures and options involves substantial risk of loss and is not suitable for all investors. Fundamental factors, seasonal and weather trends, daily news, and other current events may have already been factored into the markets. The use of stop loss or contingent orders may not protect profits and may not limit losses to the amount intended. Certain market conditions make it difficult or impossible to execute such orders.