From the monthly archives:
Following up on a question from the Red-Hot Commodity ETFs webinar yesterday — the question about the relationship between gold, the US dollar and the euro — take a look at this weekly chart …
You can see that gold was moving WITH the euro right up until last month, when the two [...]
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During my webinar today, a subscriber asked about the SDS — the ultrashort S&P 500 ETF.
Here’s my take …
I’d really want the SDS to close above that recent overhead resistance (1) before going long the SDS … which in turn would mean going double short the S&P 500.
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I talked to Phil at HoweStreet.com yesterday on a range of topics. You can listen to that interview here: http://tinyurl.com/6oy3m8
Oil production is taking a cliff dive in Mexico. The state-run oil company, PEMEX, announced that its production fell 7.8% to 2.91 million barrels a day in the first quarter and exports dropped even more, [...]
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So glad to be long oil stocks and natural gas today, with oil over $117 and natural gas climbing. Oil Rises to Record Above $117 After OPEC Says No Need to Boost Production Crude oil rose above $117 a barrel for the first time after OPEC said it will maintain production, rejecting calls [...]
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Commodities took a swan dive this morning as the U.S. dollar rallied hard. Now, the reason being touted on CNBC for the rally borders on laughable — the “worst may be over” for the banks. But, you can’t argue with the rip-roaring rally the dollar enjoyed this morning.
But after selling off, commodities have [...]
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AGRICULTURE
Philippine Rice Tender Attracts Two-Thirds of Grain Sought as Prices Soar The Philippines, the world’s biggest rice importer, received offers for just two-thirds of the grain it sought at a government tender today, stoking concern about a food shortage amid record prices.
Egypt Plans to Reduce Rice Plantings to Save [...]
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Uranium has had so many stakes stuck in its heart it could give Bela Lugosi a run for the money, and the spot price is down AGAIN in the most recent week. But here’s some interesting news from Platts …
Deutsche Bank may form uranium fund
Platts has learned that Deutsche Bank AG [...]
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With the IMF lowering its forecast for US economic growth — to 0.5% from a previous estimate of 1.5% — the International Energy Agency is lowering its forecast for global oil demand.
The Paris-based energy agency now expects the world to use 87.2 million barrels per day.
But that’s 3.63 million barrels per hour [...]
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So yesterday, I wrapped up my MoneyandMarkets for today, with a title that I thought was great: “Food Wars.” Now, true, I have a 5-year-old who wants to be Anakin Skywalker and we build Legos Star Wars playsets together, so maybe I’m a bit biased. But I think the title “Food Wars” conveys excitement, [...]
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