TOM LOFFMAN'S DAILY COMMODITY AND STOCK COMMENTS
(MONDAY, APRIL 29, 2024)
Tom's Daily Stock/Commodity Focus: "Focus On - Strongest and Weakest futures: Fri 4/26: Based on my best momentum formula here are the strongest trends in futures (trade from the long side): CC (Cocoa), O (Oats), KW (Winter Wheat), W (Wheat), KC (Coffee), HG (Copper), FC (Feeder Cattle). Here are the weakest trends in futures (trade from the short side): SB (Sugar), MBT (Bitcoin), CT (Cotton), NG (Nat Gas), BO (Bean Oil), NQ (Nasdaq), RTY (Russell 2000)."
Tom's Profit Target Commodity Comments: "Profit Target F11 Futures: Fri 4/26: 10 of 20 Profit Target are in uptrends. Bullish trends: most grains, most metals, most other ag (softs), dollar. Bearish trends: interest rate futures, stocks, energy, currencies."
Tom's Breakout Futures Comments: "Breakout F11 Futures: Fri 4/26: 12 of 40 Breakout positions are long, the VX is out, and 11 are profitable (92%). Most profitable: CC (Cocoa)Â +$68,550. Least profitable: C (Corn)Â +-$0. Net P/L of all Breakout positions:Â +$100,746."
Tom's Top Systems Stocks Comments: "Top System F11 Stocks: Fri 4/26: The rally continued today, especially the Nasdaq. 1 of 20 Top System positions is long and profitable: GOOGÂ +16.9%. Average P/L of all 20 Top System positions:Â +.8%."
"TOM'S TECHNICAL TRENDS- AG: ALL TRADE DISCUSSIONS REFER TO OUR BREAKOUT SYSTEM WITH BUY, SELL AND POSITION INFORMATION ON THIS SERVICE."
"Fri 4/26:"
"GRAINS: Corn (Jul) is trading in a stalled range. We are long. Wheat (Jul) is trending and moving up. We are long. Winter Wheat (Jul) is trending and moving up. We are long. Oats (Jul) is trending and moving up. We are long. Soybeans (Jul) is trending down and is now in a rebound after falling. We are out. Bean Oil (Jul) is trending down and has been breaking down, but now appears stalled. We are out. Soy Meal (Jul) is trending and slowly moving up. We are long."
"OTHER AG (SOFTS): Lean Hogs (Jun) is now in a pullback after making a double top. We are out. Coffee (Jul) is trending up, and is now in a pullback after apparently topping. We are long. Feeder Cattle (May) is trending and moving up slowly. We are long. Live Cattle (Jun) is trending and slowly moving up. We are long. Cotton (Jul) is trending and moving down. We are out. Cocoa (Jul) is trending and moving up, but may be topping, finally. We are long. Orange Juice (Jul) is in a slightly bullish range and is now rebounding. We bought and are now long. Sugar (Jul) 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.
