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ScottHoffman's Commentary

12 Commentaries Found for user ScottHoffman
The other day a new Swing Trader's Insight subscriber asked me if he should look to take overnight signals or whether he should stay to the US day session. I told him that it depended on whether he was around to manage the trade at night. I generally don't like to have a...
The Euro was sharply higher overnight on hopes that EU leaders will be able to make headway on a solution to their sovereign debt crisis. A Spanish T Bill auction today was oversubscribed (good demand) but the rate was still high. There's no US data on the calendar for today...
By the Taylor Trading Technique, crude oil futures had a Sell Short day signal today. There was a strong rally last week after it broke above the last swing high at 94.97 from August 8. When I looked at the charts last night, it had gapped higher on the open. After some...
The financial markets were pretty quiet overnight. Europe continues to be the market's focus but there weren't really any new developments there over the weekend. As a result the Euro is largely unchanged. Behind the scenes it sounds like there's some horse trading going on,...
News flow was light overnight; it feels like everyone is on vacation today. The EU released its trade balance figures for June; they showed a big improvement but June was a long time ago. EU news was weak other than a report that Spanish non-performing loans hit a record in...
Currency futures can be a challenge to trade. Unlike some markets that see their best liquidity (and often the best moves) during US trading hours, currencies can see action almost any time of the day or night, and some of the best moves can occur when the "home market" is...
The news flow is slow today. The US Dollar's rally has paused today; the USD has rallied and US Treasuries have sold off on traders thinking there are reduced odds of a QE3 in the US. Chinese Premier Wen Jiabao said that inflation is low enough to allow for more stimulus to...
November soybean futures had a breakout setup for today. After the sharp selloff of late last week, yesterday was a doji and NR7 day. The breakout setup meant beans were likely to resume the selloff in a downside breakout or it would see an upside breakout in a recovery...
Equities are trading unchanged. The conventional wisdom is that the US economy is doing well enough that the Fed won't roll out QE3 at the September meeting-that is what has been behind the selloff in Treasuries. In a speech yesterday the director of investor relations for...
Most of my posts about trading tend to be a post mortem of a trade. The nature of the Taylor Trading Technique tends to make it hard to write posts about trade setups ahead of time. The Canadian Dollar futures had a breakout setup yesterday that's still in play this morning....
Natural gas futures have been on a sharp downturn over the past couple of days. I had it on my short list of markets to watch today as September futures were testing a significant Fibonacci retracement level at 2.768. How the market reacted to that Fib level could lead to a...
Data painted a mixed picture of economic growth. Q2 growth in Japan and the EU were weaker than forecast while Germany and France came in a bit better than expected. The German ZEW survey of economic conditions declined for a fourth straight month. In the US, retail sales...
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