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TOM LOFFMAN'S DAILY COMMODITY AND STOCK COMMENTS

(THURSDAY, APRIL 18, 2024)

Tom's Daily Stock/Commodity Focus: "Focus On - Strongest and weakest futures: Wed 4/17: Based on my best momentum formula here are the strongest trends in futures (trade from the long side): KC (Coffee), SI (Silver), VX (Volatility), CC (Cocoa), HG (Copper), GC (Gold), RB (Gasoline). Here are the weakest trends in futures (trade from the short side): SB (Sugar), CT (Cotton), MBT (Bitcoin), RTY (Russell 2000), BO (Bean Oil), EMD (Midcap), YM (Dow)."

Tom's Profit Target Commodity Comments: "Profit Target F11 Futures: Wed 4/17: 9 of 20 Profit Target futures are in uptrends. Bullish trends: metals, most energy, dollar. Bearish trends: most grains, interest rate futures, stocks, currencies. Mixed: other ag (softs)."

Tom's Breakout Futures Comments: "Breakout F11 Futures: Wed 4/17: 12 of 40 Breakout positions are long, the VX is out, and 10 are profitable (83%). Most profitable: CC (Cocoa) +$63,270. Least profitable: W (Wheat) -$825. Net P/L of all Breakout positions: +$122,204."

Tom's Top Systems Stocks Comments: "Top System F11 Stocks: Wed 4/17: Down again, with all minor rallies being sold. A very bearish 4 sessions. 5 of 20 Top System positions are long and 2 are profitable: GOOG +5.6%, AMZN +2.0%. 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."

"Wed 4/17:"

"GRAINS: Corn (May) is trending down and is now stalled. We are out. Wheat (May) is now breaking down. We are long with a sell for Thursday. Winter Wheat (May) is trading in a stalled range. We are long. Oats (May) has been rebounding, but the rebound may be over. We are out. Soybeans (May) is trending and moving down. We are out. Bean Oil (May) is trending and moving down. We are out. Soy Meal (May) is trading in a stalled range. We bought and are now long."

"OTHER AG (SOFTS): Lean Hogs (Jun) is trending up and just completed a pullback. We are long. Coffee (Jul) is trending and surging up. We are long. Feeder Cattle (May) is trending and moving down. We are out. Live Cattle (Jun) is trending and breaking down, but may be forming an oversold base. We are out. Cotton (Jul) is trending and moving down. 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 and moving down strongly. 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.