TOM LOFFMAN'S DAILY COMMODITY AND STOCK COMMENTS
(WEDNESDAY, MAY 8, 2024)
Tom's Daily Stock/Commodity Focus: "Focus On - Strongest and weakest futures: Tue 5/7: Based on my best momentum system here are the strongest trends in futures (trade from the long side0: O (Oats), KW (Winter Wheat), SM (Soy Meal), W (Wheat), NG (Nat Gas), S (Soybeans), C (Corn). Here are the weakest trends in futures (trade from the short side): CC (Cocoa), VX (Volatility), KC (Coffee), LH (Lean Hogs), MBT (Bitcoin), CT (Cotton), CL (Crude Oil)."
Tom's Profit Target Commodity Comments: "Profit Target F12 Futures: Tue 5/7: 11 of 20 Profit Target futures are in uptrends. Bullish trends; most grains, most interest rate futures, stocks, currencies. Bearish trends: most metals, most energy, most other ag (softs), dollar."
Tom's Breakout Futures Comments: "Breakout F12 Futures: Tue 5/7: 25 of 40 Breakout positions are long, the VX is short, and 20 are profitable (77%). Most profitable: HG (Copper)Â +$16,488. Least profitable: FC (Feeder Cattle) -$1,288. Net P/L of all Breakout positions:Â +$41,287."
Tom's Top Systems Stocks Comments: "Top System F12 Stocks: Tue 5/7: An early pop, the retreat - the rally is now running out of gas. 14 of 20 Top System positions are long and 9 are profitable. Best: GOOGÂ +16.4%, FASÂ +5.5%, ISRGÂ +1.9%, AMZNÂ +1.4%, SPXLÂ +0.4%. Average P/L of all 20 Top System positions:Â +0.8%."
"TOM'S TECHNICAL TRENDS- AG: ALL TRADE DISCUSSIONS REFER TO OUR BREAKOUT SYSTEM WITH BUY, SELL AND POSITION INFORMATION ON THIS SERVICE."
"Tue 5/7:"
"GRAINS: Corn (Jul) is trending and moving up. 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 surging up. We are long. Soybeans (Jul) is trending and surging up. We are long. Bean Oil (Jul) is trending and moving down. We are out. Soy Meal (Jul) is trending and surging up. We are long."
"OTHER AG (SOFTS): Lean Hogs (Jun) is trending and moving down. We are out. Coffee (Jul) is trending and moving down. We are out. Feeder Cattle (Aug) is trending up, but is now breaking down. We are long so far. Live Cattle (Jun) is trending and moving up in choppy waves. We are long. Cotton (Jul) is trending and moving down. We are out. Cocoa (Jul) is trending and breaking down. We are out. Orange Juice (Jul) is trending and moving up in a very choppy pattern. We are long. Sugar (Jul) is now rebounding after a long drop. We are long so far."
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.
