An overdue recovery in the Euro and U.S. equity markets lured money back into risky assets and away from the safety of Treasuries. One day does not make a trend, but this seems to be the beginning of some attempt at “normalcy”. We have been getting solid economic news recently despite a few minor disappointments […]
Archive | May, 2010
Don’t be Standard and Poor
Oil gained virtually 4% today and is $4 off its lows yesterday. As soon as we get thru the 9 day MA we expect to see more buying; that level is just above today’s high. From here we see a grind higher to $76/barrel. That being said we expect heating oil and RBOB to trade […]
Daly Gold Report
Gold Settles $15.50 Higher …. ($1215.30) August Gold The European Union’s debt crisis continues to fuel investor demand for gold on a global basis. Investors world-wide appear to using Euro’s to purchase gold as a hedge or “safer haven” to guard against further Euro Dollar weakness. There is sentiment throughout the investment community that the […]
Markets Settle In
The markets have relaxed but as investors you must not. Their will be wild gyrations in the weeks to come so start thinking long and hard how you want to be positioned. At the moment $69 appears to be the line in the sand on front month Crude oil; July as of this post is […]
Supply on tap, but can Treasuries get over Europe?
Earlier this week we urged all of our clients to get flat Treasuries because things didn’t “feel” right and they still don’t. Treasuries have managed to maintain an upward bias in the face of higher equities (the few bounces that we have gotten), a recovery in the Euro, this signals that there are some behind […]
Crude Oil Prices Remain Under Pressure After Dipping Below $70 a Barrel in Week
Oil Market Summary for 05/17/2010 to 05/21/2010 Crude oil prices ended just above $70 a barrel on Friday after dipping below that threshold earlier in the week. The benchmark June contract for West Texas Intermediate settled at $68.01 before it expired on Thursday, after falling below $65 a barrel in intraday trading. The decline from […]
Daly Gold Report
Gold Settled $21.50 Lower… ($1193.10) The gold market continued to reflect the uncertainty of investors regarding the latest news coming from the European Union. Yesterday we reported BaFin (Germany’s financial services regulator) had announced it will introduce a temporary plan to ban short selling. The ban will apply to naked short selling and naked credit […]
Psychological Plunge in Oil Prices Makes OPEC Nervous, Official Says
The plunge in oil prices in the wake of the euro crisis has OPEC worried. Qatar oil minister Abdullah bin Hamad Al Attiyah emerged as an unofficial spokesman for the oil cartel over the weekend in a series of news agency reports from the Gulf that signaled the group’s concern. On Monday, as oil futures […]
Separate yourself from the Crowd
What I’ve learned over the years is if I’m trading what most people are trading I’m probably losing money for clients so it is OK to be contrarian with some of your investment themes. On the lows today July Crude was just over $1 from its February lows closing below $74 today while June Crude […]
Option Queen Letter
Here is a question for you to ponder, if the banks are public enemy number 1, why is it that we the people have been funding their fun? Are we the people making money on the spread or a piece of the spread on lending that the banks are making and if not, why not? […]