In a speech last night Fed Chairman Ben Bernanke said the Fed needs to be "exceptionally alert and flexible" suggesting that further rate cuts are on the ivory tower's Christmas list. He essentially said further rate cuts may be needed to keep the economy from swirling the bowl due to a worsening credit crunch, the […]
I will be in and out of pocket today. I will get back to all questions but it may be after some delay. Commodity Watch Crude Oil closed down $3.80 to $90.62 yesterday surpassing Tuesday's $3.28 loss after traders showed their dislike for the EIA's inline oil/near term bearish for products report. This is the […]
Obviously still cautious, energy took an across the board drubbing yesterday. Due to a family emergency I will be out this morning through the EIA's report, my thoughts are outlined below. Commodity Watch: Crude Oil: fell $3.28 to close at $94.42 after Saudi announced production was at 9 mm bopd which is the highest level […]
Caution Watch: Dangerous market conditions ahead. I see headwinds for oil, despite the fact that it will likely cross the $100 mark in coming days, in so doing it will like provoke a token response from OPEC at their December 5th meeting. Further, with the financials dictating the market's direction and with further evidence of […]
The Weekly Wrap Table: Commodity Watch: Crude Oil: As you can see from the table above crude had a pretty good week while everyone was off on vacation. An unexpected draw on crude stocks and an ever weakening dollar helped push the barrel near the $100 mark and this week I think they go for […]
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