Energy: Crude will finish down 0.70% but it appears prices are trying to stabilize as $78/barrel held last October will prices hold on again at these exact levels? Time will tell but if volumes pick up and we can see some appreciation history may repeat itself…stay tuned. Prices will likely need to settle back above […]
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As the Hourglass Turns
Energy: Just when I was ready to throw in the towel on Crude it held in today like a champion reversing from early losses to close near its highs up 0.85%. It is critical that the recent lows hold on a closing basis. July RBOB remained above $2.65…the line in the sand. A close above […]
A Bankrupt BP – Worse For The Financial World Than Lehman Brothers?
The BP crisis in the Gulf of Mexico has rightfully been analysed (mostly) from the ecological perspective. People’s lives and livelihoods are in grave danger. But that focus has equally masked something very serious from a financial perspective, in my opinion, that could lead to an acceleration of the crisis brought about by the Lehman […]
Option Queen Letter
The S&P 500 futures contract plowed higher for the day and for another week. We have seen this index rally for the past three months. It is now approaching the 0.618% Fibonacci retracement number which is at about 1237.86. We observe on the daily action, a pattern of softness intraday with buying at the end […]
Crude Oil Hits Ceiling in Week as Hedge Funds Attack Euro
Crude oil broke through the $80 a barrel ceiling repeatedly during the week but kept falling back as hedge funds placed big bets on the Euro’s decline. The fiscal drama in Greece held global markets hostage much of the week as worries about the impact of the Greek crisis on the euro outweighed comments from […]
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Daly Gold Report
Today’s Gold Session Settled $22.00 Lower… ($1129.40) Today’s Gold trade could not maintain early gains as world economic data pressured the allure to the “precious metals”. China unexpectedly raised Reserve Interest Rates (50 Basis points) starting January 18th. This move by the central bank of China is in accordance to their commitment to slow down […]
Regulators Seek to Throw Light on Hedge Fund Impact in Energy Trading
Do hedge funds have an impact on energy trading? While the answer might seem intuitive, the debate as to whether they actually do has come to resemble the medieval theological dispute about how many angels can dance on the head of the pin. Because, like angels, many trades in energy futures are invisible, and it […]
Bonds and Notes Defy Gravity
We have said in previous newsletters that Treasuries tend to rally during November and much of December regardless of fundamentals and that seems to be the only factor keeping bonds and notes above water. On a day in which fundamentals seemed to be decisively bearish in long-term interest rates, the market held its own. All […]
Option Queen Letter
As we move into the last week of October remember, not only is it Halloween, but it is the seasonal time when mutual fund managers take loses for the year, that is if they have any. Then we have portfolio dressing and undressing. So, get your trick or treat candies ready for the goblins and […]
Commodities: For all Scenarios
When I started working in commodities, almost a decade ago, they were considered a dirty word and certainly not a place for the average Joe to invest. Within the last few years, thanks to investors becoming more open minded, the overall performance of commodities and other asset classes, commodity futures and options are quickly becoming […]