Global Market Comments for September 2, 2008 1) Hurricane Gustav pulled its punch, so crude (USO) crashed $13 from the Friday high to the $105 handle. The market was discounting another Katrina and got a damp squib instead. Natural gas (NG) collapsed 74 cents to $7.20. They don't call this contract the widow maker for
Global Market Comments for August 28, 2008 1) Hurricane Gustav wavered, so crude fell $6 and natural gas plunged a mind blowing 10%, or 80 cents. Other commodities collapsed across the board and stocks took off.2) Q2 GDP came in at a blistering 3.2%, almost double some forecasts. While the stimulus checks provided a minor
Global Market Comments for August 28, 2008 1) Hurricane Gustav wavered, so crude fell $6 and natural gas plunged a mind blowing 10%, or 80 cents. Other commodities collapsed across the board and stocks took off.2) Q2 GDP came in at a blistering 3.2%, almost double some forecasts. While the stimulus checks provided a minor
Global Market Comments for August 26, 2008 1) Crude pops $6 and natural gas leaps 42 cents to $8.25 as hurricane Gustav turns towards the oil and gas producing facilities in the Gulf of Mexico. One mathematical model has a category four hurricane hitting New Orleans in 3-4 days.2) The S&P case-Shiller home price index
Global Market Comments for August 26, 2008 1) Crude pops $6 and natural gas leaps 42 cents to $8.25 as hurricane Gustav turns towards the oil and gas producing facilities in the Gulf of Mexico. One mathematical model has a category four hurricane hitting New Orleans in 3-4 days.2) The S&P case-Shiller home price index
Global Market Comments for August 21, 20081) Crude (USO) spiked $10 to $122 when it realized that 1% of the world's production passes through a pipeline in Georgia where the Russian invasion shows no sign of ending soon. Tropical storm Fay also brought out fears of a Gulf hurricane back to the surface. Panic buying
Global Market Comments for August 21, 20081) Crude (USO) spiked $10 to $122 when it realized that 1% of the world's production passes through a pipeline in Georgia where the Russian invasion shows no sign of ending soon. Tropical storm Fay also brought out fears of a Gulf hurricane back to the surface. Panic buying
Global Market Comments for August 20, 20081) Weekly crude inventories soared by a record 9.4 million barrels as demand destruction accelerates, knocking the price down $5 to $12.50. The world is clearly producing more crude than it is using, but there is still no margin for error on the supply side. Several big hedge funds
Global Market Comments for August 20, 20081) Weekly crude inventories soared by a record 9.4 million barrels as demand destruction accelerates, knocking the price down $5 to $12.50. The world is clearly producing more crude than it is using, but there is still no margin for error on the supply side. Several big hedge funds
Global Market Comments for August 19, 20081) The producer price index, the real inflation rate, rocketed by 1.2% in July to 9.8% YOY. The stock market barfed 200 points. Lehman (LEH), AIG Int. (AIG), Fannie Mae (FNM) and Freddie Mac (FRE) did coordinated swan dives in true Olympic fashion.2) According to Dataquick, home prices in