TOM LOFFMAN'S DAILY COMMODITY AND STOCK COMMENTS
(FRIDAY, APRIL 19, 2024)
Tom's Daily Stock/Commodity Focus: "Focus On - Strongest and weakest futures: Thu 4/18: Based on my best momentum formula here are the strongest trends in futures (trade from the long side: KC (Coffee), CC (Cocoa), VX (Volatility), SI (Silver), HG (Copper), GC (Gold), SM (Soy Meal). Here are the weakest trends in futures (trade from the short side): SB (Sugar), CT (Cotton), MBT (Bitcoin), BO (Bean Oil), RTY (Russell 2000), EMD (Midcap), NG (Nat Gas)."
Tom's Profit Target Commodity Comments: "Profit Target F11 Futures: Thu 4/18: 7 of 20 Profit Target futures are in uptrends. Bullish trends: metals, most energy, dollar. Bearish trends: grains, interest rate futures, stocks, most other ag (softs), currencies."
Tom's Breakout Futures Comments: "Breakout F11 Futures: Thu 4/18: 11 of 40 Breakout positions are long, the VX is out, and 10 are profitable (91%). Most profitable: CC (Cocoa) +$72,960. Least profitable; KW (Winter Wheat) -$312. Net P/L of all Breakout positions: +$132,165."
Tom's Top Systems Stocks Comments: "Top System F11 Stocks: Thu 4/18: Another down day, but the Dow finished with a minor gain. 5 of 20 Top System positions are long and 2 are profitable: GOOG +6.0%, AMZN +.8%. Average P/L of all 20 Top System positions: -.2%."
"TOM'S TECHNICAL TRENDS- AG: ALL TRADE DISCUSSIONS REFER TO OUR BREAKOUT SYSTEM WITH BUY, SELL AND POSITION INFORMATION ON THIS SERVICE."
"Thud 4/18:"
"GRAINS: Corn (May) is trending down and slowly breaking down. We are out. Wheat (May) is trending and breaking down. We sold and are now out. Winter Wheat (May) is trading in a slightly bullish range. We are long. Oats (May) is trending down and has been rebounding. We are out with a buy for Friday. Soybeans (May) is trending down and falling. We are out. Bean Oil (May) is trending down and plunging. We are out. Soy Meal (May) is trading in a trendless range. We are long."
"OTHER AG (SOFTS): Lean Hogs (Jun) is trending up and is now stable after a pullback. We are long with a buy for Friday. Coffee (Jul) is trending and has been moving up sharply. We are long. Feeder Cattle (May) is trending down, but is now rebounding. We are out. Live Cattle (Jun) is trending down, but is now in a minor rebound. We are out. Cotton (Jul) is trending down and falling fast. We are out. Cocoa (Jul) is trending and moving up. We are long. Orange Juice (May) is trading in a slightly bullish range. We are out. Sugar (Jul) is trending down and falling fast. 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.
