Bill Baruch Is on “What the FICC?”

Ian Culley
August 17, 2023

We’re having loads of fun with What the FICC?

Spencer and I talk about high-level intermarket trends, whatever markets catch our attention, and things that fly under the average investor’s radar.

Bill Baruch, the founder and president of Blue Line Futures, will join us tomorrow to share his insights on trends and markets.

I’m a big fan of Bill’s and the entire team at Blue Line – a consistent source of clarity. And I know Spencer’s dying to discuss yields…

It’s going to be a good one! Be sure to tune in tomorrow at 11:30 a.m. ET.

If you missed yesterday’s show, here’s a quick recap…

Natural gas is carving out a six-month base. 

Here’s the evidence in favor of an upside resolution:

  • commercials unwind a historic long position
  • volatility contracts
  • seasonal tailwinds pick up
  • momentum holds within a bullish regime 

So, is natty gas about to rip?

My bias is higher. But an opinion isn’t necessarily a position.

Currently, I do not hold a long position in either natural gas futures or the ETF $UNG.

If and when the front-month contract decisively breaks above 2.85, my conviction will strengthen into action.

It’s a waiting game for now. 

I doubt we’ll have to wait long, though, as the data favors a breakout in the coming months.

Bigger picture: The team likes energy.

It’s hard not to when energy names continue to catch higher, from E&P names to coal stocks.

Here’s one of my favorite coal setups we shared yesterday, Alpha Metallurgical Resources $AMR:

As long as AMR holds above 178, I want to own this stock with an initial target of 225 and a secondary objective of 300.

Breakouts in the peripheral areas of the energy space – such as AMR or Uranium bellwether Cameco $CCJ – support broadening strength and further upside potential for the entire sector.

Stay tuned!

Thanks for reading. And be sure to check out yesterday’s episode and the full rundown of trade ideas for coal. 

Also, don’t forget to tune in tomorrow as we welcome Bill Baruch to the show.

I’ll see y’all then!

– Ian

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