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Patrick MontesDeOca
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Published Technical Analyst, Author, Commodity Trader, Systems Developer, Algorithmic Intelligence, Computer Modeling of Processes. I custom build Proprietary Artificial Intelligence for each individual client's portfolio needs. After more 30 years in the business, Patrick MontesDeOca has... More
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  • Golden Eagle Futures Swing Trading Instructions - Weekly -12/21/2012 To 12/27/2012 2 comments
    Dec 22, 2012 10:50 PM | about stocks: GLD, GDX, SLV, FXE, DBA, MOO

    Signals are automatically generated by integrating electronic weekly nearest futures statistics with proprietary algorithms.

    GOLD
    The gold contract closed at 1657. The market closing below the 50 day MA is confirmation that the trend momentum remains bearish. With the market closing below the VC Weekly Price Momentum Indicator of 1666, it confirms that the price momentum is bearish. Look to take some profits, if long, as we reach the 1695 and 1.734 levels during the week. Buy corrections at the 1628 to 1.598 levels to cover shorts and go long on a weekly reversal stop. If long, use the 1670 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).

    SILVER
    The silver contract closed at 29.98. The market closing below the 50 MA is confirmation that the trend momentum is bearish. With the market closing below the VC Weekly Price Momentum Indicator of 30.74, it confirms that the price momentum is bearish. Look to take some profits, if long, as we reach the 31.84 and 33.70 levels during the week. Buy corrections at the 28.88 to 27.78 levels to cover shorts and go long on a weekly reversal stop. If long, use the 27.78 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).

    B POUND
    The B Pound contract closed at 1.6160. The market closing above the 50 and 200 MA is confirmation that the trend momentum is bullish. With the market closing below the VC Weekly Price Momentum Indicator of 1.6203, it confirms that the price momentum is bearish. Look to take some profits, if long, as we reach the 1.6257 and 1.6353 levels during the week week. Buy corrections at the 1.6107 and 1.6053 levels to cover shorts and go long on a weekly reversal stop. If long, use the 1.6053 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).

    EURO-CURRENCY
    The eurocurrency contract closed at 1.3190. The market closing below the 50 and 200 MA is confirmation that the trend momentum is bearish. With the market closing below the VC Weekly Price Momentum Indicator of 1.3221, it confirms that the price momentum is bullish. Look to take some profits, if long, as we reach the 1.3287 and 1.3386 levels during the week. Buy corrections at the 1.3122 to 1.3056 levels to cover shorts and go long on a weekly reversal stop. If long, use the 1.3056 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).

    E-MINI S&P 500
    The E-Mini S&P 500 contract closed at 1.426. The market closing above the 50 MA is confirmation that the trend momentum remains bullish. With the market closing above the VC Weekly Price Momentum Indicator of 1.421, it confirms that the price momentum is bearish. Look to take some profits, if long, as we reach the 1.451 to 1.476 levels during the week. Buy corrections at the 1.396 to 1.366 levels to cover shorts and go long on a daily reversal stop. If long use the 1.366 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).

    SOYBEANS
    The soybeans contract closed at 14.29. The market closing above the 50, 200 MA is confirmation that the trend momentum bullish. With the market closing above the VC Weekly Price Momentum Indicator of 14.43, it confirms that the price momentum is bullish. Look to take some profits, if long, as we reach the 14.87 and 15.46 levels during the week. Buy corrections at the 13.84 to 13.94 levels to cover shorts and go long on a daily reversal stop. If long use the 13.94 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).

    CORN
    The corn contract closed at 7.02. The market closing above the 50 and 200 MA is confirmation that the trend momentum is bullish. With the market closing above the VC Weekly Price Momentum Indicator of 7.08, it confirms that the price momentum is bullish. Look to take some profits, if long, as we reach the 7.28 to 7.55 levels during the week. Buy corrections at the 6.81 to 6.61 levels to cover shorts and go long on a daily reversal stop. If long, use the 6.61 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).

    Patrick MontesDeOca

    Equity Management Academy

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    *Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.

    TRADING DERIVATIVES, FINANCIAL INSTRUMENTS AND PRECIOUS METALS INVOLVES SIGNIFICANT RISK OF LOSS AND IS NOT SUITABLE FOR EVERYONE. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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Comments (2)
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  • Patrick, Did you miss that weekly reversal on the soybeans? It may portend another sizable down leg. Of course, the USDA report in two weeks could turn that around in literally a minute.
    24 Dec 2012, 01:55 AM Reply Like
  • Author’s reply » Not sure about another leg down as much making a bottom for the set up to the spring rally. Buy corrections in the 14 levels.

     

    PM
    25 Dec 2012, 10:32 AM Reply Like
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