Oil Drops To $40 Handle After IEA Warns Production Freeze Is “Meaningless”
It appears The IEA has come to the same reasoning as we have been pointing out for weeks – “freezing” production at what is already the highest output levels ever is “meaninglesss.” As Reuters reports, Saudi Arabia is the only country with the ability to increase output, a senior executive from the International Energy Agency (IEA) said on Wednesday. […]
The Stock Whisper Of The Day: UNG, MON, INTC
Hot stocks of the day: UNG, MON, INTC, /UG Video length: 00:05:34
Credit Suisse Blames “Worst January Ever” On Rogue Traders; Fires 2,000
When last we checked in on Credit Suisse (CS), things weren’t going so well. The bank had just reported a $6 billion loss – in the fourth quarter. The red ink for 2015 totaled some $3 billion, representing the firm’s first annual loss since the financial crisis. Shares promptly plunged 13% to their lowest level in nearly a quarter […]
U-Turn For Metals
As fear has made a swift exit from the market, the flight-to-safety trade has likewise disappeared. Look no further than gold for evidence of this, as gold gets monkey-spanked this morning: I’m delighted to see gold weak, because I’d like to get long at the right price. To my way of thinking, the “right […]
Bullet Report – Gold Selloff Despite Brussels Attack
Gold was the biggest mover overnight. Yellow metal jumped to $1259 following the Brussels attack, but it retraced to $1231 overnight as the USD strength and rising stock markets caused investors to sell it off. Trading Central Preference: short positions below 1249.00 with targets @ 1225.00 & 1220.00 in extension. GBP/USD was also dumped […]
E Mid Cap Best & Worst Report – March 23, 2016
The best mid cap sectors is consumer goods. The highest scoring mid cap industry is trucking. The average mid cap score is 65.25 and that’s higher than the four week average score of 62.62. The average mid cap stock in our universe is trading -24.27% below its 52 week high, 0.83% above its 200 dma, […]
Great Graphic: Brexit Fears Boost Sterling Put Buying
The UK referendum is three months away. Three-month options are a common benchmark for various market segments; from speculators, to fund managers to corporations.Events over the past week have raised the risks that the UK votes to leave the EU. The market has responded forcefully today, and even if you only follow the spot market, what is happening […]
Markets Returning To Normality – New Home Sales Eyed
After the Brussels bombings took over the news, we are seeing some return to normality. The dollar seems to be in control for now, and the pound is the weakest link. New home sales in the US will shed some light on the housing sector while the weekly release of oil inventories could return to […]
