“Last week’s break above $50 looks as if it was a false dawn for the oil market bulls. Although OPEC production restraint has tightened the market, there’s still a big overhang of stocks." Christopher Bellew, senior broker at Bache Commodities Ltd.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 30, 2009
Oil is Down For a Second Day
Crude oil declined for a second day as tumbling equity markets indicated that economic activity and demand for fuel may weaken further.
Global demand remains slack and oil is unlikely to reach $60 a barrel this year, Qatar’s Oil Minister Abdullah Bin Hamad Al-Attiyah said. Crude also dropped as the dollar strengthened to its highest against the euro in more than a week, limiting the appeal of commodities used to hedge against inflation.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Global demand remains slack and oil is unlikely to reach $60 a barrel this year, Qatar’s Oil Minister Abdullah Bin Hamad Al-Attiyah said. Crude also dropped as the dollar strengthened to its highest against the euro in more than a week, limiting the appeal of commodities used to hedge against inflation.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 28, 2009
Asset Prices Performance in March
Oil futures are up 16.7% in March versus a surge of 5% in the CRB Commodities Index.
Gold is down 2.1% on the month. Investors are clearly putting money to work on risky assets.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Gold is down 2.1% on the month. Investors are clearly putting money to work on risky assets.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 27, 2009
Mobius, Faber and Barton Biggs on the Stock Market Rally (VIDEO)
Mark Mobius, Marc Faber and Barton Biggs gave their outlook on the stock market rally. (March 2009)
Dennis Gartman also expressed that he is bullish on stocks for the first time in many years.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Crude Oil Falls as Stronger Dollar Curbs Appeal of Commodities
Oil futures dropped from the highest close in 4 months as a stronger dollar reduced the appeal of commodities related investments.
Oil futures dropped as much as 3.4% on NYMEX after the US dollar surged almost 2% against the euro currency.
“The stronger dollar is bringing all of the commodities down” The Federal Reserve’s policies have become the major driver of the commodities.” Phil Flynn, trader at Alaron Trading Corp.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Oil futures dropped as much as 3.4% on NYMEX after the US dollar surged almost 2% against the euro currency.
“The stronger dollar is bringing all of the commodities down” The Federal Reserve’s policies have become the major driver of the commodities.” Phil Flynn, trader at Alaron Trading Corp.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Oil has Bottomed Out
Investors are laying the groundwork for another bull run on the energy and commodities markets, in spite of signs suggesting the overall economy is still deteriorating.
Analysts and economists are saying with some confidence that oil prices have bottomed out. And Wall Street is taking notice that spot and futures prices for West Texas Intermediate crude have risen by nearly 40 percent since hitting $33 in December.
The best data show U.S. demand for oil is still weak. On Tuesday, the American Petroleum Institute reported a 4.6-million-barrel buildup in U.S. crude stockpiles, pushing prices lower. Demand in China is off by at least 15 percent year-over-year, and other bearish economic indicators will likely keep prices volatile in the short term.
The impact of the down economy has been felt more on the supply side than on demand, as reflected in OPEC's response, but especially in the sharp fall-off of new exploration and production activity in non-OPEC states.
But oil market watchers say the Organization of Petroleum Exporting Countries, or OPEC, has conclusively dropped production faster than demand has fallen.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Analysts and economists are saying with some confidence that oil prices have bottomed out. And Wall Street is taking notice that spot and futures prices for West Texas Intermediate crude have risen by nearly 40 percent since hitting $33 in December.
The best data show U.S. demand for oil is still weak. On Tuesday, the American Petroleum Institute reported a 4.6-million-barrel buildup in U.S. crude stockpiles, pushing prices lower. Demand in China is off by at least 15 percent year-over-year, and other bearish economic indicators will likely keep prices volatile in the short term.
The impact of the down economy has been felt more on the supply side than on demand, as reflected in OPEC's response, but especially in the sharp fall-off of new exploration and production activity in non-OPEC states.
But oil market watchers say the Organization of Petroleum Exporting Countries, or OPEC, has conclusively dropped production faster than demand has fallen.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 26, 2009
U.S. inventories at 16-year highs
Crude oil futures closed lower yesterday as inventories in the United States jumped to a 16 year high.
Even though, crude oil futures have now closed above 50 dollars a barrel for five consecutive sessions.
Light, sweet crude for May delivery settled down $1.21 or 2.2%, at $52.77 a barrel on the New York Mercantile Exchange. May Brent crude on the ICE futures exchange settled $1.75 lower at $51.75 a barrel.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Even though, crude oil futures have now closed above 50 dollars a barrel for five consecutive sessions.
Light, sweet crude for May delivery settled down $1.21 or 2.2%, at $52.77 a barrel on the New York Mercantile Exchange. May Brent crude on the ICE futures exchange settled $1.75 lower at $51.75 a barrel.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 25, 2009
Oil Futures Down Ahead of Inventories
Crude oil futures fell Wednesday in Asia as traders exited long positions ahead of weekly U.S. government oil data that may show further increases in the country's crude stockpiles.
A similar report late Tuesday from an industry group showed inventories surged by 4.6 million barrels last week, well above analysts' expectations.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
A similar report late Tuesday from an industry group showed inventories surged by 4.6 million barrels last week, well above analysts' expectations.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 24, 2009
Paul Krugman: the U.S. Will Have to “Seize” Big Banks
Nobel laureate economist Paul Krugman said the U.S. will eventually have to “seize” big banks as the economic and financial crisis deepens.
“In the end, we’ll come to it,” Krugman said in an interview with Bloomberg Television today, referring to nationalizing banks. “You guarantee the liabilities of everybody but seize the big ones.”
He also said the U.S. economy won’t stabilize until “late in the year.” Paul Krugman joins Stiglitz, another Nobel laureate to express his concerns over this bank plan.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
“In the end, we’ll come to it,” Krugman said in an interview with Bloomberg Television today, referring to nationalizing banks. “You guarantee the liabilities of everybody but seize the big ones.”
He also said the U.S. economy won’t stabilize until “late in the year.” Paul Krugman joins Stiglitz, another Nobel laureate to express his concerns over this bank plan.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Nobel Prize-winning economist Joseph Stiglitz on the Geithner Plan
The U.S. government plan to rid banks of toxic assets will rob American taxpayers by exposing them to too much risk and is unlikely to work as long as the economy remains weak, Nobel Prize-winning economist Joseph Stiglitz said on Tuesday.
"The Geithner plan is very badly flawed," Stiglitz told Reuters in an interview during a Credit Suisse Asian Investment Conference in Hong Kong.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
"The Geithner plan is very badly flawed," Stiglitz told Reuters in an interview during a Credit Suisse Asian Investment Conference in Hong Kong.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 23, 2009
S&P 500 Crosses 50 Day Moving Average
I have found a very good article on Bespoke Investment Group Blog. They mention the S&P crossing the 50 day moving average.
Sentiment is positive for risk taking investments like long oil positions.
"After breaking above its 50-day moving average briefly early last week, the S&P 500 failed to take out this resistance level and headed lower for the remainder of the week. But the index has broken above its 50-day once again this morning, and its ability to hold above this level will be a key test for whether or not this rally can continue. The S&P's 50-day is currently at 795, so watch for where the index closes in relation to this level today."
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Sentiment is positive for risk taking investments like long oil positions.
"After breaking above its 50-day moving average briefly early last week, the S&P 500 failed to take out this resistance level and headed lower for the remainder of the week. But the index has broken above its 50-day once again this morning, and its ability to hold above this level will be a key test for whether or not this rally can continue. The S&P's 50-day is currently at 795, so watch for where the index closes in relation to this level today."
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Oil Futures Trade at Multi Month Highs
Nymex Crude Oil Futures rose to 53 dollars a barrel this morning to the highest levels in almost four months. The move is being supported by a weak dollar, and the US plan to remove toxic assets from bank balance sheets.
Crude oil Futures rose 64 cents to 52.71 dollars a barrel.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Crude oil Futures rose 64 cents to 52.71 dollars a barrel.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 21, 2009
Latest Hugh Hendry Videos - Part 1
Hugh Hendry is a british contrarian hedge fund manager. One of the best in this field.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Hugh Hendry - The Eccentric Hedge Fund Manager
I have found this very interesting article about my favourite hedge fund manager on Seeking Alpha. Here in the Oil Traders Blog you can watch all of Hugh Hendry`s videos. He is not only insightful but very fun to listen to.
"Hendry does not have the notoriety of a Jon Paulson but he has been prescient in many of his calls - plus he has agreed with me on many topics (always a bonus).
As a guest, he is incredibly engaging with wicked wit (snark) and the ability to dance around (or verbally undress) opponents. He is a bit cocky though. I am posting a series of 4 videos from this month - all before the Fed decision to go Banana Republic, but in case you missed it, the United Kingdom chose the same path (create debt with one hand of power, and buy it with the 2nd hand), so much of what he talks about applies to both countries. He is firmly in the deflation camp and no matter what amount of printing presses, he thinks we're going Japan.
Unfortunately for those who disagree with him he has been spot on, on his calls up to here - I don't have firm data on his performance but he says he made 32% in 2008 and is up 10% through March in 2009, which spanked the pants off most professionals worldwide. "Pundit-wise" he has been nailing things. At the bottom of this post is an "editorial" he wrote back in November 2008.
Inflation will become a reason to worry for authorities again at some point, but they should think about combating deflation right now, Hendry said. "It is coming back in the future. All I'm saying it is just an unprofitable proposition at the time," he said. Betting on inflation is as if "we got a new book and we've read the last page. But if you read the entire novel, it's a different journey."
The market has grown for about 30 years and for a long period, it will be "going nowhere," Hendry said, likening this period with the one after the crash of 1929 and with the crisis in Japan at the beginning of the 1990s, despite claims that this time it is different because the world has evolved."
"Hendry does not have the notoriety of a Jon Paulson but he has been prescient in many of his calls - plus he has agreed with me on many topics (always a bonus).
As a guest, he is incredibly engaging with wicked wit (snark) and the ability to dance around (or verbally undress) opponents. He is a bit cocky though. I am posting a series of 4 videos from this month - all before the Fed decision to go Banana Republic, but in case you missed it, the United Kingdom chose the same path (create debt with one hand of power, and buy it with the 2nd hand), so much of what he talks about applies to both countries. He is firmly in the deflation camp and no matter what amount of printing presses, he thinks we're going Japan.
Unfortunately for those who disagree with him he has been spot on, on his calls up to here - I don't have firm data on his performance but he says he made 32% in 2008 and is up 10% through March in 2009, which spanked the pants off most professionals worldwide. "Pundit-wise" he has been nailing things. At the bottom of this post is an "editorial" he wrote back in November 2008.
Inflation will become a reason to worry for authorities again at some point, but they should think about combating deflation right now, Hendry said. "It is coming back in the future. All I'm saying it is just an unprofitable proposition at the time," he said. Betting on inflation is as if "we got a new book and we've read the last page. But if you read the entire novel, it's a different journey."
The market has grown for about 30 years and for a long period, it will be "going nowhere," Hendry said, likening this period with the one after the crash of 1929 and with the crisis in Japan at the beginning of the 1990s, despite claims that this time it is different because the world has evolved."
Oil Rallies 10% This Week
Oil futures ended lower on the last trading day of the week, pressured by an upmove in the US Dollar.
Even though, prices held above 51 dollars a barrel and ended the week up 10 percent.
The Federal Reserve's aggressive measures boosted optimism of a global economic recovery and on the reflation trade. Inflation might just be around the corner.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Even though, prices held above 51 dollars a barrel and ended the week up 10 percent.
The Federal Reserve's aggressive measures boosted optimism of a global economic recovery and on the reflation trade. Inflation might just be around the corner.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 19, 2009
Oil Up on Fed's Bond Move and Weak Dollar
"We have for the time being a return to risk appetite in the oil market and it's based on the Fed's announcement yesterday" said analyst Mike Wittner of Societe Generale.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Oil Tops $50 as Inflation Concern Spurs Commodities
Crude oil rose to near 50 dollars a barrel for the first time in more than 2 months, after the U.S. FED announced plans to spend 1 trillion dollars buying back long term debt.
The Fed is seeking to purchase U.S. Treasuries, mortgage- backed bonds and other debt, raising optimism that moves to end the global recession will increase fuel demand. The dollar traded near a two-month low against the euro, prompting investors to purchase oil as a hedge against inflation.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
The Fed is seeking to purchase U.S. Treasuries, mortgage- backed bonds and other debt, raising optimism that moves to end the global recession will increase fuel demand. The dollar traded near a two-month low against the euro, prompting investors to purchase oil as a hedge against inflation.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 18, 2009
Meredith Whitney: This Year will be Worse than 2008
A surge in borrower defaults and unemployment pressures will make 2009 an even uglier year for banks than last year, analyst Meredith Whitney said.
Meredith Whitney predicts "breakups and M&As on a grand scale" as the financial industry seeks to remake itself in the face of all its capital pressures. This were Meredith Whitney`s comments:
"I don't think this year is going to look any better than last year. In fact it will look worse because there's so much credit coming out of the system."
"The probability of more people going into default is higher, so the banks are going to have a tough time"
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Meredith Whitney predicts "breakups and M&As on a grand scale" as the financial industry seeks to remake itself in the face of all its capital pressures. This were Meredith Whitney`s comments:
"I don't think this year is going to look any better than last year. In fact it will look worse because there's so much credit coming out of the system."
"The probability of more people going into default is higher, so the banks are going to have a tough time"
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 17, 2009
Pimco`s El-Erian: Early to Call a Market Bottom
"If you're intellectually honest, we simply don't know. There are so many moving pieces. The reality is we were overdue for a technical bounce. We're getting it, but it's too early to call the bottom with any conviction."
But El-Erian said things are changing too rapidly and there is too much uncertainty over Washington policy-making decisions to declare that the worst has passed for the economy and Wall Street.
"It's an upside-down world where everybody is in the same boat and you need a lot of coordination so that we can navigate what are pretty fluid conditions. There is some good news but there's also some bad news."
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
But El-Erian said things are changing too rapidly and there is too much uncertainty over Washington policy-making decisions to declare that the worst has passed for the economy and Wall Street.
"It's an upside-down world where everybody is in the same boat and you need a lot of coordination so that we can navigate what are pretty fluid conditions. There is some good news but there's also some bad news."
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Oil Outlook
Fadel Gheit, managing director of oil and gas research at Oppenheimer & Co., and CNBC contributor Ron Insana share their outlooks for oil.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 16, 2009
Oil Goes Down on OPEC Decision
Oil traded down to around 44 dollars a barrel today after OPEC decided to leave existing output targets unchanged.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 15, 2009
OPEC agreed to keep oil production quotas unchanged
OPEC agreed to keep oil production quotas unchanged and will meet again on May 28 to review targets, ministers said after today’s meeting in Vienna.
“We decided to leave this unchanged and now it is time to fully adhere to the cuts we agreed upon” said Qatari Oil Minister.
The Organization of Petroleum Exporting Countries met in Vienna today to discuss possible action to revive prices that remain $100 below July’s record even after a record production cut agreed on in December. Oil futures have risen 3.7 percent this year to finish last week at $46.25 a barrel in New York.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
“We decided to leave this unchanged and now it is time to fully adhere to the cuts we agreed upon” said Qatari Oil Minister.
The Organization of Petroleum Exporting Countries met in Vienna today to discuss possible action to revive prices that remain $100 below July’s record even after a record production cut agreed on in December. Oil futures have risen 3.7 percent this year to finish last week at $46.25 a barrel in New York.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 14, 2009
A new Tax of 0.25% per Trade?
One congressman wants to tax the value of all trades one quarter of 1%. The man who introduced the bill is congressman Peter Defazio Democrat from Oregon. These were his comments on Fox News:
" Well you know we heard this before 1932, when congress doubled the then tax of point 22%. Devastatingly diminish banking business threaten the country's banking structure, possible closing of the stock exchange. The stock exchange at that point was that 41. Congress doubled the tax and use the money to rebuild America. And then of course the stock exchange went up to a thousand before the tax was allowed -- in 1966. The brits have a tax of one half of 1% of all trades on the London exchange I think people are still doing business there aren't --"
One thing is for sure, if this tax goes through the Dow Jones will trade below 5,000 in a nutshell.
Full VIDEO Interview here
" Well you know we heard this before 1932, when congress doubled the then tax of point 22%. Devastatingly diminish banking business threaten the country's banking structure, possible closing of the stock exchange. The stock exchange at that point was that 41. Congress doubled the tax and use the money to rebuild America. And then of course the stock exchange went up to a thousand before the tax was allowed -- in 1966. The brits have a tax of one half of 1% of all trades on the London exchange I think people are still doing business there aren't --"
One thing is for sure, if this tax goes through the Dow Jones will trade below 5,000 in a nutshell.
Full VIDEO Interview here
Mar 13, 2009
Conoco CEO sees Oil at 60 to 70 USD
ConocoPhillips' (COP) chief executive said Wednesday that the company sees oil prices moving up to $60 or $70 a barrel over time but not going more than $80.
Speaking at the company's analyst meeting in New York, Jim Mulva said the Houston-based oil giant's strategy is based on modest oil prices.
"We don't have expectations of oil prices of $80, $90, $100, but we do look at oil prices moving up from the low levels we've seen," Mulva said. "Maybe in neighborhood of $60 to $70 over time."
In the same meeting, ConocoPhillips Chief Financial Officer Sig Cornelius said the company needs oil prices to average $52 a barrel and natural gas prices to average $6 per million British Thermal Units to break even and for it to able to pay dividends in 2009. If oil prices average $40 a barrel, ConocoPhillips could lose $3 billion this year and force the company to cut its capital expenditure budget further, he said.
"We believe we do have flexibility to make further capital reductions if necessary," Cornelius said. "Our debt may creep up if facing that scenario." He added, however, that reducing the company's dividend is not under consideration.
ConocoPhillips reduced its 2009 budget to $12.5 billion.
Answering questions about possible acquisitions, Mulva said bringing down debt takes priority over making purchases.
"Given our share price...and our debt position, we really think the priority is bringing the debt down," he said.
Earlier Wednesday, the company's exploration and productions vice president said ConocoPhillips' current strategy doesn't include acquisitions targets, but the company isn't ruling out entering into deep-water joint ventures.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Speaking at the company's analyst meeting in New York, Jim Mulva said the Houston-based oil giant's strategy is based on modest oil prices.
"We don't have expectations of oil prices of $80, $90, $100, but we do look at oil prices moving up from the low levels we've seen," Mulva said. "Maybe in neighborhood of $60 to $70 over time."
In the same meeting, ConocoPhillips Chief Financial Officer Sig Cornelius said the company needs oil prices to average $52 a barrel and natural gas prices to average $6 per million British Thermal Units to break even and for it to able to pay dividends in 2009. If oil prices average $40 a barrel, ConocoPhillips could lose $3 billion this year and force the company to cut its capital expenditure budget further, he said.
"We believe we do have flexibility to make further capital reductions if necessary," Cornelius said. "Our debt may creep up if facing that scenario." He added, however, that reducing the company's dividend is not under consideration.
ConocoPhillips reduced its 2009 budget to $12.5 billion.
Answering questions about possible acquisitions, Mulva said bringing down debt takes priority over making purchases.
"Given our share price...and our debt position, we really think the priority is bringing the debt down," he said.
Earlier Wednesday, the company's exploration and productions vice president said ConocoPhillips' current strategy doesn't include acquisitions targets, but the company isn't ruling out entering into deep-water joint ventures.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 12, 2009
Oil Bull and Bear Debate - Video
Where does oil go from here? Will Opec cut further? Will oil retest the 32 dollar a barrel low?
A bull/bear debate over the direction oil is headed, with Addison Armstrong, Tradition Energy and Raymond Carbone, Paramount Options.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Hugh Hendry Latest CNBC Video, March 2009
VIDEO 1
Latest Hugh Hendry video interview on CNBC. Hugh Hendry is my favourite hedge fund manager and TV commentator. Fantastic videos.
Hugh Hendry thinks we are in a deflationary spiral.
VIDEO 2
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Latest Hugh Hendry video interview on CNBC. Hugh Hendry is my favourite hedge fund manager and TV commentator. Fantastic videos.
Hugh Hendry thinks we are in a deflationary spiral.
VIDEO 2
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 11, 2009
Did the Devil turn the S&P at 666?
In modern popular culture, 666 has become one of the most widely recognized symbols for the Antichrist or, alternately, the Devil. Earnest references to 666 occur both among apocalypticist Christian groups and in explicitly anti-Christian subcultures such as that surrounding some heavy metal bands.
An appearance of the number 666 in contemporary Western art or literature is more likely than not an intentional reference to this number of the Beast symbolism. Such popular references to 666 are too numerous to list.
The S&P 500 Index reversed at 666. Can this be the low of this mega bear market? As they say, the devil is in the details.
An appearance of the number 666 in contemporary Western art or literature is more likely than not an intentional reference to this number of the Beast symbolism. Such popular references to 666 are too numerous to list.
The S&P 500 Index reversed at 666. Can this be the low of this mega bear market? As they say, the devil is in the details.
Peter Schiff says the Bear Market is Not Over
Peter Schiff the permanent Wall Street bear says the The Bear Market is not Over and that the Dow Jones may even rally to 8,500 before the market begins another down leg:
"I don`t think the bear market is over, maybe a lot of people is going to believe that, especially if this rally carries through.
I wouldn`t be surprised if we had a rally that lasted for many months, I wouldn`t be surprised if the Dow rallied above 8,000 to 8,500."
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
"I don`t think the bear market is over, maybe a lot of people is going to believe that, especially if this rally carries through.
I wouldn`t be surprised if we had a rally that lasted for many months, I wouldn`t be surprised if the Dow rallied above 8,000 to 8,500."
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Arthur Cashin: Bear Market Rallies are Short, Violent, Sharp
Art Cashin, director of floor operations for UBS Financial Services said that "in the old trader`s handbook says that bear market rallies are short, violent, shart and die on low volume."
"Readers have to watch the volume. When volume dries up, the market will roll over."
"We are going to have some kind of a retest on the lows. Yesterday`s rally was 70% short covering."
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Hugh Hendry says Short Stocks, Buy Dollars
Hugh Hendry told CNBC today:
"I've honestly never known a time of near-universal conviction that we have to worry about inflation today. For quantitative easing there's no successful precedent. It has never, ever succeeded."
Hugh Hendry is very bullish on the US dollar and said,
"I can't buy enough dollars"
Hugh Hendry is short on precious metals and does not fear inflation:
"Gold, silver, I'm shorting them right now. (Inflation) is coming back in the future. All I'm saying it is just an unprofitable proposition at the time"
Despite Tuesday's strong rally in the stock markets, shares are not a good investment, said Hendry, who continues to bet on government bonds.
"I dare you to touch an equity today. Tell me you're making money on equities"
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
"I've honestly never known a time of near-universal conviction that we have to worry about inflation today. For quantitative easing there's no successful precedent. It has never, ever succeeded."
Hugh Hendry is very bullish on the US dollar and said,
"I can't buy enough dollars"
Hugh Hendry is short on precious metals and does not fear inflation:
"Gold, silver, I'm shorting them right now. (Inflation) is coming back in the future. All I'm saying it is just an unprofitable proposition at the time"
Despite Tuesday's strong rally in the stock markets, shares are not a good investment, said Hendry, who continues to bet on government bonds.
"I dare you to touch an equity today. Tell me you're making money on equities"
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 10, 2009
Meredith Whitney Video - Credit Cards Companies will be Unprofitable This Year
Meredith Whitney talks to Maria Bartiromo and comments the landscape for the credit cards. Are they the next shoe to drop?
Meredith said she would buy Goldman Sachs at 70, not at 100.
Goldman Sachs and Morgan Stanley will benefit from taking more market share. The other players are out of the market.
Meredith Whitney says Credit Cards are the Next Shoe to Drop
Meredith Whitney wrote in the Wall Street Journal that "credit cards are the next credit crunch," as contracting credit will lower consumer spending and hurt the U.S. economy even more.
"Few doubt the importance of consumer spending to the U.S. economy and its multiplier effect on the global economy, but what is under-appreciated is the role of credit-card availability in that spending," Whitney told the WSJ.
American Express, Visa and Mastercard have been performing better then the banks. Will they be under fire in the near future?
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
"Few doubt the importance of consumer spending to the U.S. economy and its multiplier effect on the global economy, but what is under-appreciated is the role of credit-card availability in that spending," Whitney told the WSJ.
American Express, Visa and Mastercard have been performing better then the banks. Will they be under fire in the near future?
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Outlook for Oil Prices and Energy Stocks
Tim Seymour on the oil market outlook:
- Opec meeting next week;
- Contango is diminishing, going away, that is bullish for oil prices;
- Conoco makes sense in a relative basis at least, higher beta play then Exxon;
- European oil stocks are cheap, BP and Total with 9% and 7% dividends;
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Chinese Deflation?
China's CPI fell for the first time in 6 years last month, raising the threat of deflation. Consumer Price Index fell 1.6% from the year before, with easing food prices contributing to the decline.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 9, 2009
Dennis Gartman says Buy US Stocks
It’s time to become bullish. Buying stocks these days is almost like shopping at a five and dime." In other words, they're real bargains out there. This week I started buying stocks.
Because they're the maker of real things. Things that if you dropped on your foot they would hurt. It’s time to stand up and say I want to own wonderful companies that have been around for years and pay dividends. And most of these stocks have stopped making new lows.
Dennis Gartman stock picks includes, Dow Chemical, Alcoa, Chesapeake Energy, Family Dollar, Bunge and Suncor Energy.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Nouriel Roubini Video Interview, March 2009
Nouriel Roubini has told CNBC today that "The risk of a total meltdown has been reduced" but he added "This onslaught of worse-than-expected macro news is going to have a negative effect on stock markets," he says, predicting S&P at 600 around October. "In the next few months many people are going to realize that many financial institutions are insolvent."
I highly recommend this article in Peter Schiff`s Blog, Dow 4,000. It seems that Peter Schiff is as bearish as ever even with the markets down like this.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Warren Buffett sees High Inflation Ahead, Video
"We are certainly doing things that can lead to a lot of inflation"
Warren Buffett on CNBC, March 09, 2009
These are the interview highlights:
"The economy, ever since we talked in September, we talked about it being an economic Pearl Harbor and how--what was happening in the financial world would move over to the real world very quickly. It's fallen off a cliff, and not only has the economy slowed down a lot, people have really changed their behavior like nothing I've ever seen. Luxury goods and that sort of thing have just sort of stopped, and that's why Wal-Mart s doing well and you know, and I won't name the ones that are doing poorly."
"And I've never seen the consumer or the Americans just generally more fearful than this. And they're also confused. And you can get fearful very quickly, but you don't get confident, you know, in five minutes. You can get fearful in five minutes, but you won't get confident for some time. And government is going to play an enormous factor in how fast it comes back. And if you're confused and fearful, you don't get over being fearful till you aren't confused."
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Oil Keeps Rallying
Oil prices hit new highs for the year, as the oil rally continues.
Oil has been ready for a recovery, and historically it's hard to find a 30-day window kinder to the market than about March 15 through April 15, said Tom Kloza, publisher and chief oil analyst at Oil Price Information Service.
The sazonality is good for oil prices and they are coming out of a very oversold condition so prices should continue to go higher.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Oil has been ready for a recovery, and historically it's hard to find a 30-day window kinder to the market than about March 15 through April 15, said Tom Kloza, publisher and chief oil analyst at Oil Price Information Service.
The sazonality is good for oil prices and they are coming out of a very oversold condition so prices should continue to go higher.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 8, 2009
Dresdner Kleinwort Technical Analyst says Oil Will Move to 51 USD
Oil may rally near $51 a barrel if the market continues to close above its 55-day mean, according to technical analysis by Commerzbank AG’s Dresdner Kleinwort unit.
“Nymex crude continues to show signs of embryonic recovery in its range,” Dresdner analyst Karen Jones said in a research note today. “We look for recovery to $50.50 to $51.”
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
“Nymex crude continues to show signs of embryonic recovery in its range,” Dresdner analyst Karen Jones said in a research note today. “We look for recovery to $50.50 to $51.”
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Bloomberg`s Energy Page
Bloomberg`s Energy dedicated page is a good resource for oil traders. In this page you can track oil prices, natural gas prices and the market moving news.
Here is the Link.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Here is the Link.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Link for the Peter Schiff Blog
If you like listening and reading Peter Schiff`s market analysis and thoughts on the economy I recommend reading Peter Schiff Blog.
These are some of the best articles posted there:
The Trouble with GM and GE
Dow Can Go to 4,000 Points
The US Dollar is a Subprime Currency
Worth a visit.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
These are some of the best articles posted there:
The Trouble with GM and GE
Dow Can Go to 4,000 Points
The US Dollar is a Subprime Currency
Worth a visit.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 6, 2009
Jim Cramer: Worst Case Scenario for Dow Jones is 5320
Jim Cramer run a study on the DJIA and his worst case scenario for the index is 5320. That would be the most extreme scenario, where Alcoa would trade at 2 dollars per share, Dupont at 11, Exxon at 56 and JP Morgan at 11.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Jim Cramer: Buy Oil Stocks
Oil has bottomed, Jim Cramer said during Wednesday’s Stop Trading! on CNBC.
He recommended that investors start buying the oil stocks like Occidental Petroleum, Exxon Mobil and Hess.
“Most of these companies are going to make a lot of money” Cramer said, as long as oil stays above forty dollars a barrel.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
He recommended that investors start buying the oil stocks like Occidental Petroleum, Exxon Mobil and Hess.
“Most of these companies are going to make a lot of money” Cramer said, as long as oil stays above forty dollars a barrel.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Boone Pickens on Oil Prices
Boone Pickens forecasts that the price of oil will rise to 75 dollars/barrel by the end of 2009 as the economy starts its recovery.
Still, he expects demand is going to surpass supply by 2011, and the price of oil will once again jump up.
“I say 60 a barrel before it drops below 40” said Pickens to the business TV channel CNBC.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Still, he expects demand is going to surpass supply by 2011, and the price of oil will once again jump up.
“I say 60 a barrel before it drops below 40” said Pickens to the business TV channel CNBC.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 5, 2009
Futures Down in Pre Market Trading
Oil futures are falling 3 percent in pre market Globex trading, after yesterday`s rallyn, as U.S. stock futures pointed to a lower opening on NYSE.
Crude oil for April delivery fell 1.2 dollars, or 3 percent, to 44.2 a barrel on Globex.
Traders are disappointed with the lack of new stimulus packages from China officials and are selling oil and other risky assets like the australian dollar and stocks.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Crude oil for April delivery fell 1.2 dollars, or 3 percent, to 44.2 a barrel on Globex.
Traders are disappointed with the lack of new stimulus packages from China officials and are selling oil and other risky assets like the australian dollar and stocks.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 4, 2009
China`s Manufacturing Data, PMI Rose in February
The main gauge of China's manufacturing sector, its PMI, rose in February, suggesting the biggest asian economy is already recovering.
Chinese PMI index rose for the 3thh month in a row in February as factories restocked in anticipation of an early revival in the economy following the chinese stimulus package.
The figures were contrast to data released earlier this week in the United States, which have showed the economy is still contracting.
This is very important for crude oil futures. China was the main driver behind the last bull market in oil and can fuel the recovery in oil futures once again.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Chinese PMI index rose for the 3thh month in a row in February as factories restocked in anticipation of an early revival in the economy following the chinese stimulus package.
The figures were contrast to data released earlier this week in the United States, which have showed the economy is still contracting.
This is very important for crude oil futures. China was the main driver behind the last bull market in oil and can fuel the recovery in oil futures once again.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Supertankers are Anchored
Supertankers that once travelled the world to satisfy a rising thirst for crude oil are now parked offshore, loaded, anchors down. In the United States, vast storage farms for oil are almost out of room. So oil companies and investors are stashing crude, waiting for demand to rise and the bear market to end so they can turn a profit in a future oil bull market.
As demand for crude has fell of a cliff, the world suddenly finds itself awash in oil that has nowhere to go.
It's been less than a year since oil prices hit record highs, but now producers and traders are struggling with the new reality: The world wants less oil, not more.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
As demand for crude has fell of a cliff, the world suddenly finds itself awash in oil that has nowhere to go.
It's been less than a year since oil prices hit record highs, but now producers and traders are struggling with the new reality: The world wants less oil, not more.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 3, 2009
Doug Casey Long Term Picks
Doug Casey gave an interview recently where he outlined his long term trend investment picks:
"In terms of long term trends you have got to be long gold, long silver, long oil; you have to be short bonds. "
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
"In terms of long term trends you have got to be long gold, long silver, long oil; you have to be short bonds. "
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Oil prices are much lower then 30 or 40 years ago
Peter Schiff said in his blog that Oil is as cheap as it has ever been in history in real terms.
This is the transcript:
"Now oil is as cheap as it has ever been relative in terms of gold. Today one ounce of gold is at 950 and oil around 40, you can buy over 25 barrels of oil with an ounce of gold. This is the cheapest oil has ever been in history.
That is how you can see the depreciation of your money. Because in paper dollars oil is still 10 times what it was when we got out of the gold standard.
The price of oil in paper dollars has risen 10 fold. But in terms of gold, real money the price of oil has fallen by 60 or 70%. Oil prices are much lower then 30 or 40 years ago."
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
This is the transcript:
"Now oil is as cheap as it has ever been relative in terms of gold. Today one ounce of gold is at 950 and oil around 40, you can buy over 25 barrels of oil with an ounce of gold. This is the cheapest oil has ever been in history.
That is how you can see the depreciation of your money. Because in paper dollars oil is still 10 times what it was when we got out of the gold standard.
The price of oil in paper dollars has risen 10 fold. But in terms of gold, real money the price of oil has fallen by 60 or 70%. Oil prices are much lower then 30 or 40 years ago."
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 2, 2009
Oil Crashes on Market Turmoil
Oil is down sharply today in line with the stock market and all other risky assets. Even Gold is down today.
Is this a capitulation type of selling? Is this a final climax selling? We will find out soon.
I recall Rockfeller`s words, "the time to buy is when blood is running on the street".
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Is this a capitulation type of selling? Is this a final climax selling? We will find out soon.
I recall Rockfeller`s words, "the time to buy is when blood is running on the street".
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Mar 1, 2009
Gold to Oil Ratio
There is an interesting article about the Gold to Oil ratio in the Street.com website. Recently Gold traded at 25 times the oil futures price and that is near an historical high.
Oil Futures trading will be volatile in the next few weeks and we expect oil to form a major bottom in the 30 to 40 dollar range.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
Oil Futures trading will be volatile in the next few weeks and we expect oil to form a major bottom in the 30 to 40 dollar range.
Oil Traders Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.
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