Matthew Bradbard submits:
Crude only closed $1 lower but that does not tell the whole story. If the dollar rally continues, which we think it will for the immediate future, prices should come off. We therefore will not be getting long until the dust settles. Natural gas is an entirely different animal. We are advising long call spreads for the month of February and on continued strength next week we will again look for long futures entries. On cold weather or increased buying we expect February to find its way back near $5.
We would have liked to see a positive day in sugar but all things considered a trade is not made in a day. Wait for a settlement above the trend line to confirm the break out; that level is just above 23.00 on the March contract.
