1. 1
SIGNALS
Econ 101…When supply
equals demand we get Equi-
librium. It has been a wild
few weeks for all commodities
as supply and demand are
locked in a death battle to
find price stability. When this
happens it is a fun time to be
a commodity trader as volatili-
ty leaves profit opportunity.
Across the board the markets
have been getting swung daily
as news stories from Greece,
Europe, Puerto Rico, and Chi-
na have been yo-yoing mar-
kets as fast as the news de-
velops. If you trade equities,
news moving prices is nothing
new, but the difference is that
these global stories are
changing the macroeconomic
picture for the entire world
which is creating DEMAND
side uncertainty, and thus
price uncertainty.
No picture is stronger than
the swing in the industrial
metals, which is directly corre-
lated to the global picture for
building and manufacturing.
Iron prices have been down
as much as 28% this week!
On Wednesday alone iron ore
fell more than 10%, the larg-
est one-day percentage fall on
record-EVER!
The reason we have been
focused on China is that they
are the Elephant in the room,
with 15% of the entire global
GDP. If the Chinese equity
market collapses it could
trigger a chain of events that
will do what? Change global
DEMAND for commodities
such as energy, metal, and
food. Well to all of my fellow
readers that passed Econ
101, a change in DEMAND chang-
es the one thing we care about…
PRICES!
The Chinese government has
been scrambling to keep their
markets propped up for many
reasons, one of the biggest being
if the market crashes it is as the
social unrest issues that will be
as big or bigger issue for the
country than the economic prob-
lem that a crash will cause. So-
cial unrest could be the straw that
breaks the back of the Com-
munist Party, so the government
is literally fighting for its life!
(continued on page 2)
GLOBAL NEWS ROCKS WORLD
SUPPLY AND DEMAND OUTLOOK
Some Good Runs This Week!
As we always say...volatility is our
Friend!
-Gasoline was up 6.77% since our
long call on 7-7-15
-The total gain on the long posi-
tion for oil and all products since
the long call on 7-7-15 was 4.12%
**You can achieve these results
with discipline and by following
the EQS daily trade recommenda-
tions and using the daily EQS stop
loss guidance
I N S I D E T H I S I S S U E :
World Continued 2
Natural Gas 3
Oil and Products 4
Terms and Disclosures 5
EQS TR A D E RE C O M M E N DA T I O N S
THE SOUR C E
F OR C OM M OD ITY
TR AD ING SIGN ALS
Volume 1, Issue 3 July 13, 2015
A Weekly Publication on the Commodity Markets
TM

2. 2
(Continued from page 1)
Here is the problem; the Chi-
nese government is kicking
the can down the road by
saving the market. As the
market is not allowed to
properly correct the bubble is
only growing bigger, and as
we well know the bigger the
bubble the harder it pops.
Expect the China market to
stabilize a bit with the govern-
ment intervention this week.
The Chinese news stories will
likely start to fade away, and
that is when we need to start
being concerned, recall that
we at EQS started talking
about China long before the
media picked it up. Just be-
cause the media stops talking
about it will not make it go
away, so will continue to keep
you posted on developing
events.
What makes the commodity
market more fun than other
markets is we also get the
pleasure of dealing with SUP-
PLY uncertainty. This week
we have bearish EIA reports
across the board as there
appears to be a domestic glut
in most of the energy sector.
Iran talks continue and
Obama put the likelihood of a
deal at 50/50 as delays still
preside. If sanctions are lifted
it will put Iran light sweet
crude on the market, which
could further glut the market
and would be bearish on pric-
es.
The domestic agriculture sup-
ply has also been getting
hammered this week as
weather is taking a toll on
crops. Drought in the west
and heavy rain in the central
mid-west are rallying ag pric-
es. We will continue to keep
our eyes on the radar, but it
looks like much of the dam-
age may already have hit the
growing season to rescue
yields.
As we said on Friday, you
cannot be on the right side
of the market every day, but
over the long run by staying
disciplined and cutting loss-
es with stops and letting your
winners run you can enjoy
the returns that the EQS
strategy provides.
WORLD….(CONT.)
On Wednesday alone
iron ore fell more than
10%, the largest one-
day percentage fall on
record-EVER!

3. 3
Despite the recent rally in prices, EQS re-
mains Bearish on natural gas prices as it
still has not broken out of the long-term
resistance line that has been holding since
February of 2014.
No extreme heat is expected this month,
"today's forecast is a bit warmer than yes-
terday's" in the next 11 to 15 days, said pri-
vate forecaster WSI Corp. in a note.
Robust production has kept prices subdued
this summer. The U.S. Energy Information
Administration reported on Thursday that
natural-gas inventories grew by 91 billion
cubic feet last week, more than analysts and
traders had expected.
Gas stockpiles now sit at 2.7 trillion cubic
feet, 33% more than a year ago and 1.7%
above the five-year average. "The demand
necessary for any sustained rally just isn't
there," said Aaron Calder, analyst at Gelber
& Associates, in a note.
Despite Rally, No Fundamental Changes
Bearish

4. 4
Money managers cut their bet on rising oil prices to their lowest point since March in the week ended
Tuesday as prices hit multi-month lows. CFTC data show hedge funds and others had cut a net 4,826 bets
on rising Nymex crude prices and added a net 37,559 bets on falling prices compared to a week before.
Net long shrunk 20% to 174K. Prices fell 12% in the last week about uncertainty about the Greek crisis,
Chinese equity markets and the Iran nuclear negotiations.
U.S. oil futures posted their biggest weekly decline since March amid concerns about a continued over-
supply of crude oil and potential weaker demand from the eurozone and China.
On Friday, the International Energy Agency said the market would remain oversupplied in 2016 and
warned that prices could have further to fall. Oilfield-services firm Baker Hughes Inc. said the number of
rigs drilling for oil in the U.S. rose this week for the second straight week, fueling concerns that oil pro-
duction in the U.S. could stay robust.
The IEA on Friday said global demand for oil would slow down next year, as it warned that crude prices
could resume a recent downward spiral. In its first forecast for next year, the IEA, which advises industri-
alized nations on their energy policies, said global oil-demand growth is forecast to slow to 1.2 million
barrels a day in 2016. That compares with an average of 1.4 million barrels a day this year.
Before the bearish news rolled the EQS position, our subscribers has a nice run since our long call of oil
and the products on 7-7-15. The big winner was gasoline, which settled up 6.77% since the recommen-
dation was made. The average of the long call for WTI, brent, diesel, and gasoline was up a nice 4.12%,
not too bad for 4 days work!
OIL & PRODUCTS...SO LONG TO
GOING LONG...THE SHORT IS ON!
Bearish

5. 5
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THE SOUR C E
F OR C OM M OD ITY
TR AD ING SIGN ALS
TERMS and DISCLOSURES