RAISE STOP on Proshares Ultra Crude Oil (UCO)

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U.S. Dollar is lower and commodities are heading higher today. WTI Crude Oil is trading around it's 20ema $102 level, resistance $105/$106.

ITZ PIX suggested re-entering a half-position on Proshares DJ-AIG Ultra Crude Oil, ticker symbol UCO. Entering @ $46 and  now suggested to RAISE STOP to $48. For Chart Click Here
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SILVER Going Higher

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Silver is moving higher today, ITZ noted on Twitter yesterday the Bullish candle formation on SLV & AGQ as highlighted in the chart below.
Silver Futures Charts

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Keep An Eye On Oil

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Analysis of today's mixed market activity, and a closer look at oil, with Helima Croft and Barry Knapp, Barclays Capital.

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ITZ Stock Chartz Of The Day

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Euro, Canadian Dollar & the Markets

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Euro: The euro is higher against the dollar today after a news report said China is interested in buying bailout bonds for Portugal. The Euro Zone common currency's resilience to hold above $1.40 and its 100-day moving average just below there also forced some investors to close short positions.

U.S. Dollar: Comments from Minneapolis Fed President Kocherlakota Wednesday failed to strike any chords of inspiration with dollar bulls. Repeating potential commencement of monetary tightening before the year in the event that the end of quantitative easing delivers its desired objectives. Perhaps economists have a hard time believing that his hope doesn’t jive with the still-lofty projection of 8.5% for year-end unemployment. The dollar index remains lower after an increase of 10,000 in initial claims data to 424,000 this morning and has fallen almost 0.5% to 75.58 having reached 76.27 midweek. A second round reading of first quarter GDP failed to improve on an earlier 1.8% pace of growth in the three months ending March.

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$50 Silver?

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CNBC's Fast Money traders and David Hightower, The Hightower Report, weigh in on AIG's re-IPO; retailer outllook, silvers' uptick, and trades you may want to play today.



The Fast Money traders break down the major business news of the day, including oil and silver's rise.

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Copper & Silver: 'Risk On'

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QE2 ends in a few weeks and most likely traders/investors are questioning, what will the Fed do next? We've seen some of the froth come off the commodity sector thus the Fed looks at that as a lower inflationary threat. But the other mandate Bernake and gang have is to create jobs.

With fears that recent US economic data has been weak and concerns of a slowdown in growth for the emerging markets, traders are starting to suspect that the Fed doves are going to have their way and that some sort of stimulus is going to be forthcoming from the Fed. It maybe an early call...but the Fed is going to adjust and perhaps become more accomodative. With recent comments from Fed governor Bullard and Goldman's bullish commodity call, watch commodites begin to move substainally higher.

You can see the move in copper & silver lately..."risk on".

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Oil Breaking Over $100

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WTI Crude Oil is breaking over $100 a barrel this morning, even after the weekly inventory report from EIA showed a slight build in crude. >>REPORT

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Good As Gold!

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Gold is testing $1530 resistance >>Chart as mentioned in Yesterday's post.


Who is Mystery Gold Buyer?




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U.S. & Canadian Dollar, Oil, Gold & Silver Update 5-25-11

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The slower growth global economy and concerns about Greece and the euro zone has caused money to flow back to the dollar.

 American Petroleum Institute reported late Tuesday  that crude-oil inventories declined 860,000 barrels in the week ended May 20. Gasoline stockpiles gained 2.4M, while stocks of distillates decreased 846,000. The trade group's report comes ahead of Wednesday's EIA Report. Analysts polled by Platts expected that to show a decline of 1.6M barrels, gasoline stocks up 750,000 barrels, and distillates stocks up 500,000 barrels.  >> Oil Futures

Oil, copper climb from depths on Goldman call to 'buy," with the Fast Money traders.

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