Archive | November, 2004

Five in Texas Are Accused of Reporting False Trades

By Leslie Wayne – Five former traders were indicted yesterday in Houston on charges of reporting false trades to industry newsletters to manipulate natural gas prices. Federal prosecutors charged former traders for the El Paso Corporation, Dynegy Inc. and the Reliant Energy Corporation with conspiracy, wire fraud and false reporting, accusing them of providing bogus […]

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Smart Blogging – according to Barron’s Magazine

Excerpt from The Electronic Investor – Edited by Randall W. Forsyth Reviewed by Kathy Yakal – This week’s featured blog is a bit different from those we’ve covered to date. Rather than an investor trying out pundit wings, William J. Cara, proprietor of Trader Wizard ( www.traderwizard.com), is a seasoned investment professional who is using […]

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BM&F’s Foreign Exchange reaches US$ 1 trillion

BM&F’s Foreign Exchange reached a financial volume of US$ 1 trillion since its inauguration, in April of 2002. During this period, the net volume was US$ 147.8 billion. The Foreign Exchange Clearinghouse made it possible to reduce in 85.2%, or US$ 852 billion, the effective transference of resources. During its two years and seven months […]

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Gold is Not American

By Bill Cara – Although U.S. markets are closed for Thanksgiving, gold and currency trading continues elsewhere. This morning in London, which together with Toronto and New York, is the centre of world trade and finance in gold, the price of gold set a new 16-year price record of US$451.70, up +$3.10 on the day. […]

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Greenback loses favor in China

By Geoffrey York – Beijing — In Chinese street slang, they are known as the ”yellow bulls” — the underground traders who lurk outside the banks in aggressive pursuit of currency deals. But despite their business zeal, there is one commodity they are unwilling to buy on the street these days: U.S. dollars. “Everyone is […]

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White House wants an ardent free-trader

By Alan Guebert – Even before Ann Veneman quietly submitted her resignation as secretary of agriculture Nov. 12, the Washington grapevine hung heavy with a long list of likely replacements. Not that Veneman wanted to go; she didn’t. The first two questions at her initial, post-election news conference Nov. 9 dealt with her future at […]

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USD, Commodities, Junior Golds

By Bill Cara – Today’s “surprise” in the global capital markets occured when the International Monetary Fund (IMF) played their ace card. Actually it was a misplay for the simple reason that capital market investors are a really smart group and are in control. That’s what happens when governments print so much worthless paper they […]

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Increase in Gas Prices Prompt Complaints

By Brad Foss – Boost in Natural Gas Prices Coincide With Rise in Trading by Hedge Funds, Prompting Complaints If the law of supply and demand really drives commodity prices, then something seems amiss in the natural gas market. Natural gas futures are trading on the New York Mercantile Exchange at prices roughly 50 percent […]

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Brazilians gain from surge of interest in ethanol

By Raymond Colitt – Growing global demand for cleaner vehicle fuels and the possibility of falling farm subsidies in Europe have sparked several investments in Brazil’s ethanol industry. Brazilian and foreign investors are set to invest as much as $3bn (€2.3bn, £1.6bn) over the next five years to increase ethanol production by 40 per cent, […]

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Coffee futures surge following large quake

By Claudia Carpenter – Coffee prices in New York surged 13 percent to a four-year high after a report of an earthquake in Colombia, the world’s third-largest grower. A 6.7-magnitude earthquake struck the west coast of Colombia, destroying about 19 homes in the port city of Buenaventura, 220 miles west of Bogota, the Associated Press […]

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