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Old 17-07-2012, 02:21 PM
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A Market Review and Opinion Report For July 15, 2012

Choppy oil price action leads up to a big volatility week. Expect massive selling in the oil sector, natural gas being the lone exception as a breakout rally could be seen as early as Monday.

Stocks and oil show strong similarities and the choppy stock market should end with an abrupt selloff this week. Bonds have already risen on the expectation and a breakout in bonds is not out of the question despite its impressively inflated levels. The dollar is pressing up against the highs here and another bull breakout should start this week, pressuring the euro, pound and Australian and Canadian dollars. The yen is positioned to run to 130 and I continue to stand by my forecast that:

The Japanese Yen futures will hit 140 before it hits 80 or I will quit writing the Weekend Commodities Review...forever.

Calling a top in a weather rally is far from easy, but all signs to a top on Monday, or at latest Tuesday in the grains sector. Beans are the play with significant downside expected as the short covering rally ends and the profit-taking liquidation begins for the bulls.

Meats remain long term bearish, with a critical week ahead for hogs as the market presses trendline support.

Inflation may creep back into the market with the recent commodity rally, but falling oil prices and a deflated global economic outlook should squash those concerns quickly and lead to a sharp selloff in metals.

Coffee is approaching a topping point and a short is recommended. Cocoa and sugar both present bear plays while OJ may have limited upside.

Disclaimer: Trading in futures and options involves a substantial degree of a risk of loss and is not suitable for all investors. Past performance is not indicative of future results. Fundamental factors, seasonal and weather trends, daily news, and other current events may have already been factored into the markets. Commodities trading can be extremely risky and is not for everyone. Some trading strategies have unlimited risk. Educate yourself on the risks and rewards of such investing prior to trading. James Mound Marketing Group, the publisher, and/or its affiliates, staff or anyone associated with James Mound Marketing Group or www.moundreport.com, do not guarantee profits or pre-determined loss points, and are not held monetarily responsible for the trading losses of others (subscribers or otherwise). Information provided is compiled by sources believed to be reliable. James Mound Marketing Group, and/or its principals, assume no responsibility for any errors or omissions as the information may not be complete or events may have been canceled or rescheduled. Any copy, reprint, broadcast or distribution of this report of any kind is prohibited without the expressed written consent of James Mound Marketing Group.
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