TOM LOFFMAN'S DAILY COMMODITY AND STOCK COMMENTS
(MONDAY, JULY 22, 2024)
Tom's Daily Stock/Commodity Focus: "Focus On - Strongest and weakest futures: Fri 7/19: Based on my best momentum formula here are the strongest trends in futures (trade from the long side): MBT (Bitcoin), RTY (Russell 2000), KC (Coffee), O (Oats), EMD (Midcap), LH (Lean Hogs), VX (Volatility). Here are the weakest trends in futures (trade from the short side): NG (Nat Gas), W (Wheat), S (Soybeans), SB (Sugar), SM (Soy Meal), BO (Bean Oil), KW (Winter Wheat)."
Tom's Profit Target Commodity Comments: "Profit Target F12 Futures: Fri 7/19: 10 of 20 Profit Target futures are in uptrends. Bullish trends: most metals, most interest rate futures, most stocks, most currencies. Bearish trends: most grains, most energy, dollar. Mixed: other ag (softs)."
Tom's Breakout Futures Comments: "Breakout F12 Futures: Fri 7/19: 24 of 40 Breakout positions are long, the VX is short, and 14 are profitable (56%). Most profitable: NQ (Nasdaq) +$28,815. Least profitable: HG (Copper) -$10,380. Net P/L of all Breakout positions: +$32.944."
Tom's Top Systems Stocks Comments: "Top System F12 Stocks: Fri 7/19: Another down day - 3 in a row for the S&P. 11 of 20 Top System positions are long and 10 are profitable. Best: TSLA +27.9%, AAPL +22.7%, TNA +22.1%, TQQQ +21.3%, SPXL +17.1%. Average P/L of all 20 Top System positions: +5.5%/-3.8%."
"TOM'S TECHNICAL TRENDS- AG: ALL TRADE DISCUSSIONS REFER TO OUR BREAKOUT SYSTEM WITH BUY, SELL AND POSITION INFORMATION ON THIS SERVICE."
"Fri 7/19"
"GRAINS: Corn (Sep) is trending and moving down. We are out. Wheat (Sep) is trending and moving down. We are out. Winter Wheat (Sep) is trending and moving down. We are out. Oats (Sep) is trending and rebounding up. We bought and are now long. Soybeans (Nov) is trending and moving down. We are long. Bean Oil (Dec) is trending and breaking down. We are still long so far. Soy Meal (Dec) is trending and moving down. We are out."
"OTHER AG (SOFTS): Lean Hogs (Oct) is trending and moving up. We are long. Coffee (Sep) is trending up, but is now starting to top. We are long. Feeder Cattle (Aug) is trading in a trendless range. We are out. Live Cattle (Oct) is trending down and slowly breaking down. We are out. Cotton (Dec) is trending down and slowly breaking down. We are out. Cocoa (Sep) is in a rebound pattern. We are long, although prices are beginning to fall again. Orange Juice (Sep) is trending and moving up in choppy waves. We are long. Sugar (Oct) is trending and moving 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 and Randy Mann and persons relating to the operation of this advisory service, assume no responsibilities for errors, omissions or any financial gains or losses associated with any trading suggestions or advice.
