TOM LOFFMAN'S DAILY COMMODITY AND STOCK COMMENTS
(MONDAY, JUNE 5, 2023)
Tom's Daily Stock/Commodity Focus: "Focus On - Strongest and weakest futures: Fri 6/2: Based on my best momentum formula here are the strongest trends in futures (trade from the long side): OJ (Orange Juice), NQ (Nasdaq), RB (Gasoline), LC (Live Cattle), C (Corn), FC (Feeder Cattle), ES (S&P). Here are the weakest trends in futures (trade from the short side): NG (Nat Gas), KW (Winter Wheat), VX (Volatility), SM (Soy Meal), LH (Lean Hogs), W (Wheat), SB (Sugar)."
Tom's Profit Target Commodity Comments: "Profit Target F11 Futures: Fri 6/2: 9 of 20 Profit Target futures are in uptrends. Bullish trends: stocks, most other ag (softs), dollar. Bearish trends: most grains, interest rate futures, metals, most energy, currencies."
Tom's Breakout Futures Comments: "Breakout F11 Futures: Fri 6/2: 12 of 40 Breakout positions are long, the VX is short, and 10 are profitable (77%). Most profitable: NQ (Nasdaq)Â +$48,541. Least profitable: OJ (Orange Juice) -$878. Net P/L of all Breakout positions:Â +$48,541."
Tom's Top Systems Stocks Comments: "Top System F11 Stocks: Fri 6/2: The market shot up today after a bullish jobs report. 18 of 20 Top System positions are long and profitable. Best: SOXL +56.4%, NVDA +36.2%, TECL +32.7%, TQQQ +30.9%, ISRG +29.4%. Average P/L of all 20 Top System positions: +17.0%."
"TOM'S TECHNICAL TRENDS- AG: ALL TRADE DISCUSSIONS REFER TO OUR BREAKOUT SYSTEM WITH BUY, SELL AND POSITION INFORMATION ON THIS SERVICE."
"Fri 6/2:"
"GRAINS: Corn (Jul) is trending and moving up. We are long. Wheat (Jul) is trending and breaking down. We are out. Winter Wheat (Jul) is trending and breaking down. We are out. Oats (Jul) is is in a weak rebound pattern. We bought and are now long. Soybeans (Jul) is trending down and appears to be forming a base. We are out. Bean Oil (Jul) is trending down and appears to be forming a base. We are out. Soy Meal (Jul) is trending and breaking down. We are out."
"OTHER AG (SOFTS): Lean Hogs (Aug) is trending down but is now rebounding. We are out. Coffee (Jul) is trending and breaking down. We are out. Feeder Cattle (Aug) is trending and moving up. We are long. Live Cattle (Aug) is trending and moving up. We are long. Cotton (Jul) is trending up and moving up in wide and choppy waves. We are long. Cocoa (Jul) is trending and moving up. We are long. Orange Juice (Jul) is trending up but is now in a pullback. We are long. Sugar (Jul) is trending and breaking down. We are out."
DISCLAIMER: You must be aware of the risks and be willing to accept them in order to invest in one or more commodity trades. Don't trade with money that you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures and options. Although every attempt has been made to assure accuracy, Tom Loffman, Cliff Harris, Randy Mann and persons relating to the operation of Harris-Mann Climatology, assume no responsibilities for errors, omissions or any financial gains or losses associated with any trading suggestions or advice.
