TOM LOFFMAN'S DAILY COMMODITY AND STOCK COMMENTS
(TUESDAY, APRIL 23, 2024)
Tom's Daily Stock/Commodity Focus: "Focus On - Strongest and weakest futures: Mon 4/22: Based on my best momentum formula here are the strongest trends in futures (trade from the long side): CC (Cocoa), KC (Coffee), VX (Volatility), HG (Copper), O (Oats), SI (Silver), GC (Gold). Here are the weakest trends n futures (trade from the short side): SB (Sugar), CT (Cotton), BO (Bean Oil), MBT (Bitcoin), RTY (Russell 2000), EMD (Midcap), NG (Nat Gas)."
Tom's Profit Target Commodity Comments: "Profit Target F11 Futures: Mon 4/22: 11 of 20 Profit Target futures are in uptrends. Bullish trends: most grains, metals, most energy, dollar. Bearish trends: interest rate futures, stocks, most other ag (softs), currencies."
Tom's Breakout Futures Comments: "Breakout F11 Futures: Mon 4/22: 9 of 40 Breakout positions are long, the VX is out, and all 9 are profitable (100%). Most profitable: CC (Cocoa)Â +$112.485. Least profitable; O (Oats)Â +$388. Net P/L of all Breakout positions:Â +$112,485."
Tom's Top Systems Stocks Comments: "Top System F11 Stocks: Mon 4/22: A broad rebound today after a very bearish week last week. 1 of 20 Top System positions is long and profitable: GOOG +6.3%. Average P/L of all 20 Top System positions: +.3%."
"TOM'S TECHNICAL TRENDS- AG: ALL TRADE DISCUSSIONS REFER TO OUR BREAKOUT SYSTEM WITH BUY, SELL AND POSITION INFORMATION ON THIS SERVICE."
"Mon 4/22:"
"GRAINS: Corn (May) has been stalled, but has now moved up for two days. We are out with a buy for Tuesday. Wheat (May) is in a strong 2 day rebound. We are out. Winter Wheat (May) is trading in a slightly bullish range. We are long. Oats (May) is now trending up and rebounding. We are long. Soybeans (May) is trending and has been moving down. We are out. Bean Oil (May) is tending and moving down. We are out. Soy Meal (May) is trading in a slightly bullish range. We are long."
"OTHER AG (SOFTS): Lean Hogs (Jun) is trending and now rebounding up after a sharp pullback. We are out. Coffee (Jul) is trending and moving up, but appears to be topping. We are long. Feeder Cattle (May) is trending down, but is now rebounding. We are out with a buy for Tuesday. Live Cattle (Jun) is trending down, but is now rebounding. We are out with a buy for Tuesday. 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 down and falling. 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.
