From the category archives:
Ripped from the Bloomberg News Wire …
The Federal Reserve, European Central Bank and four other central banks lowered interest rates in an unprecedented, emergency coordinated bid to ease the economic effects of the financial crisis. The Fed cut its benchmark rate by a half point to 1.5 percent, the central bank in a [...]
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Last night, the US Senate passed the emergency bailout package, so the larded-up piece of legislation goes back to the House of Representatives. This is giving hope to investors, and so boosting the US dollar despite the measure’s $850 billion price tag. This morning, the ECB held firm on interest rates. This makes investors [...]
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What a wild day it was today. I published one Red-Hot Global Small Caps issue, one Red-Hot Commodity ETFs issue, and two Red-Hot Canadian Small-Caps Issues — all of them trading issues. I also put out another update for my most recent oil report.
So, I didn’t have time to blog until the trading [...]
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Dow futures are way, way down this morning as the US financial sector careens toward a ditch. On the other hand, gold started the morning up $14, but it’s only up $5 as I write this as the US dollar rallies. We’ll sit the morning out — I may have trading recommendations for my [...]
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Commodities are getting clocked this morning. The catalyst is that Hurricane Gustav didn’t harm the energy infrastructure in the Gulf of Mexico, but really, you have to give credit to a strong, resurgent US dollar.
A HUGE pullback in oil today. It started in electronic trading in a week that [...]
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Waiting for Gustav Hurricane Gustav grew stronger as it moved on a path projected to take it over Haiti on Tuesday and just south of Cuba on Wednesday, according to the National Hurricane Center. Forecasters say they believe Gustav will strengthen into a “major hurricane” and move into the central Gulf of [...]
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The dollar is running the show, and its rally should weigh on commodities in the short term.
And now some news you can use …
ENERGY
OPEC official says output cuts may be needed An Iranian official in the Organization of Petroleum Exporting Countries said Saturday [...]
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Here’s what I’m reading today …
ENERGY
OPEC May Consider Supply Cut as Oil Stockpiles Rise, Iran Says Oil prices are falling because of an oversupply of crude, and OPEC may consider cutting production at its September meeting to achieve a supply-demand balance while maintaining sufficient excess capacity, Iran’s OPEC governor said.
IEA Raises Forecast for [...]
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Yesterday, the U.S. dollar rallied hard and gold tumbled. That fall in the yellow metal looks to continue today. Clearly, my short-term outlook for gold –which had been bullish — is subject to change.
Looking at the charts, you can see that the dollar is now back ABOVE former overhead resistance …
While [...]
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Chart of the freakin’ day … You can see the original HERE.
Gazprom expects oil to hit $250 a Barrel “in the foreseeable future”. And at the same time, Citigroup boosted its 2008 Brent outlook 22 percent to $116.60 a barrel, while Merrill Lynch raised its forecast by 14 percent to $114. The [...]
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