Archive for the 'Economy' Category
Oil: Technical Analysis
June 29th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Summary (In English): The oil price uptrend looks set to continue, with short term pullbacks along the way. — I made large charts this time: WTI Daily WTI Weekly Oil has settled into a healthy (roughly 45 degree), uptrending channel. After […]
Oil Rises Above $142 for First Time as Investors Spurn Stocks
June 29th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Welcome to the public participation phase on oil… UPDATE: Actually, no. I take that back. I just looked at the charts and the daily interval doesn’t show the tell tale gap of public participation. Check back later for look at oil […]
Marc Faber: ‘Misleading’ Fed Should Let Banks Fail
June 28th, 2008His chortles at the CNBC bozos were great. It gets really good at the end of Part 2. Part 1: Part 2:
The Price Of Food: 2007 – 2008
June 28th, 2008I noted a few of the most shocking increases. Remember, these are changes over just one year. Via: Cattle Network: Eggs, Grade A +28.32% Barley +52.56% Beans, Dry Edible +64.29% Corn +46.70% Flaxseed +134.46% Lentils +147.73% Oats +38.96% Peas, Dry Edible +62.38% Rice, Rough +50.00% Sorghum +41.45% Soybeans +72.75% Sunflower +65.06% Wheat +80.33% Research Credit: […]
Unemployed Banker Stands on NYC Street Wearing ‘For Hire’ Sign
June 27th, 2008Via: USA Today: Call it a sign of the times. An unemployed banker has taken to the streets of Manhattan — wearing a pinstriped suit and an “MIT Graduate for Hire” sign draped over his shoulders. Joshua Persky, an unemployed financial engineer, says he’ll be passing out resumes during the lunch hour all week. On […]
Barclays Warns of a Financial Storm as Federal Reserve’s Credibility Crumbles
June 27th, 2008Via: Telegraph: Barclays Capital has advised clients to batten down the hatches for a worldwide financial storm, warning that the US Federal Reserve has allowed the inflation genie out of the bottle and let its credibility fall “below zero”. “We’re in a nasty environment,” said Tim Bond, the bank’s chief equity strategist. “There is an […]
U.S. Stocks Tumble, Sending Dow to Worst June Since Depression
June 27th, 2008Equities are drifting lower again this morning. The dollar is still falling / oil still rising / gold gapping higher. Via: Bloomberg: U.S. stocks tumbled, sending the Dow Jones Industrial Average to its worst June since the Great Depression, as record oil prices, credit-market writedowns and a slowing economy threatened to extend a yearlong profit […]
America’s Aviation System Could Be at Risk of Collapsing by the Beginning of Next Year
June 27th, 2008Via: Christian Science Monitor: America’s aviation system could be at risk of collapsing by the beginning of next year. That warning from aviation experts has prompted some industry leaders to call for re-regulation, something considered almost heresy until now. Others are urging Washington to do more to rein in the oil speculators pushing up fuel […]
OIL UP AND OUT OF PREVIOUS RANGE; NEW RECORD HIGH
June 27th, 2008Dollar tanking again. Via: Reuters / Guardian: Oil cracked the $140 record high that market bulls had been eyeing for weeks, and grains and metals rallied as well, as supply issues and inflation from a weak dollar dominated commodity markets on Thursday. The Reuters-Jefferies CRB Index, one of the broadest indicators of commodities demand, rose […]
Gold Sharply Higher
June 26th, 2008Via: Market Watch: Gold futures rallied to a one-month high on Thursday boosted by weakness in the U.S. dollar, as other metals futures also posted strong gains. Gold for August delivery rose $29.70 to $912 an ounce on the New York Mercantile Exchange. The precious metal earlier hit an intraday high of $914.50 an ounce, […]
