Weekly Squawk Broadcast Brief

Posted by Eddie Horn on March 10, 2017

 

Top Market Movers

Monday, March 6: Natural Gas was up over 4%, Dow back under 2100

Tuesday, March 7: Crude Oil went full circle after opening at 5400, it broke down to 5318, only to rally and close at 5404

Wednesday, March 8: Gold 5-week low, Crude Oil 4-week low, Natural Gas up over 3%

Thursday, March 9: Crude Oil fell over 5% and hit lows not seen since December 2016

Friday, March 10: Crude Oil rallied on the Non-Farm to 5011, Gold 12062, CDM +.40%

Top Market Breaking Headlines

  1. US stock futures lower as Fed blackout period kicks off Investing.com
  2. Dow, S&P 500 dip as energy shares tumble Reuters
  3. Oil plunges after record stockpile data, dollar gains Reuters
  4. China wants to avert ‘head-on collision’ in the Koreas Washington Post
  5. Oil turns lower; WTI drops below $50 for first time since December Investing.com
  6. Draghi shows more ‘Hawkish’ stance though ECB stands pat on Rates Investing.com
  7. A Freakish Calm Surrounds the Eight-Year Bull Market Bloomberg

Community Excerpts

It's our responsibility as traders to aggressively correct repeated bad behavior. Correct your biggest mistake... and things really turn around in a big way despite any other small mistakes you may make. Hitman47-X

The best thing about trading is our mistakes are easily measurable in money terms. that makes them really real and easier to address.” Marijan993

Practice, practice, practice.Westside

“Which one of our genius crew posted all those charts with trendlines and beautiful color and simplicity, suitable for framing...  those were deeply moving Qtips

Daily Goal: Today I will demonstrate my right work, now and as planned. I also dissolve all trading habits that no longer serve me. Badwolf

Educator Highlights

Define the risk for each trade and keep the risk small. This is the only thing we can control.  Profits will take care of themselves.John Hoagland, TopstepTrader

As a rule, I don't follow February  levels "inside ranges" very often. The general reason being that there is too much noise inside a range. So, you really have to rely on the "footprints" you find inside a range.John Bougearel, Structural Logic

I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have.Paul Tudor Jones

Grains: The markets been down hard, but it’s a big giant trading range for us.Wally Labuz, TST Farm Report

Confidence and patience are two biggies. If you are finding staying positive a challenge while trading, perhaps you should have a coach/mentor participate alongside you so they can observe your stress reactivity to putting on a trade. Modulating your stress reactivity to trading may be just what the doctor ordered. It is hard to objectively observe that on your own, so that is where a coach or mentor can be very helpfulJohn Bougearel, Structural Logic

Eddie's Note

Equities are still on a Bull move, but it has been stymied with more of a cautious rally than a ‘blind-blitz’ rally. Sellers are popping in randomly to hold the Bull down.

Gold futures extended losses into nine consecutive sessions, sending Gold to the lowest level since the start of February.

Crude Oil sellers have dominated the Wednesday and Thursday trade. Credit for OPEC is just about out the window. With API having a 11.8M build and the following day EIA had a 8.2M build, this just about set the table for the large fallout in Crude Oil.

Remember: Don't worry about the money. Worry about the wins and loses.

-Eddie Horn, Broadcaster
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Topics: Market Updates, Squawk Radio