Investing and Trading News, with a Contrarian, Sarcastic Twist!
From Agora’s 5 Minute Update“Wheat is up another 20 cents this morning… that’s a two-day record rally.” says our Maniac Trader Kevin Kerr. Wheat has been shooting up all year long, and is currently at an all-time high of $7.60 a bushel. Since the start of 2007, wheat’s up 51%, and according to Kevin, it […]
Another credit crunch victim – cotton.Cotton prices plummet in Aug Something we need to think about going forward. Are most cotton positions unwound by the hedge funds? Was today a strong buying day for the funds? I typically invest on fundamentals, but I learned the hard way a few weeks back that hedge funds can […]
Check out this chart – thank you Toby for the link:http://charts3.barchart.com/chart.asp?sym=CTZ7&data=A&jav=adv&vol=Y&divd=Y&evnt=adv&grid=Y&code=BSTK&org=stk&fix= I don’t know much about technical analysis – anybody out there know what to make of this?
From Agora’s Daily Reckoning: Australia, one of the world’s strongest performing economies over the last decade, is in the throws of its worst drought in recorded history. Earlier this year, Prime Minister John Howard told a largely non-religious Australian population to, “hope and pray there is rain.” Down Under, drought is wreaking havoc on the […]
From the WSJ: SAN FRANCISCO — Crude-oil futures topped $73 a barrel Wednesday, their highest level in two weeks, as investors reacted to U.S. data showing supplies of motor gasoline supplies fell for the fourth week in a row and crude inventories dropped more than the market expected. Crude for October delivery was last up […]
Courtesy of Agora’s 5 Minute Forecast: After hovering at an 11-year high for months, wheat busted through to $7.50 per bushel last week — its highest price ever. Canada — the world’s second largest exporter — announced this year’s crop would be 20% smaller than previously expected. Japan’s Ministry of Agriculture, Forestry and Fisheries has […]
Date Position Qty Month/Yr Contract Entry Price Last Price Profit/Loss Market Value 01/22/07 Long 1 DEC 08 Cotton 63.00 67.15 $2,075.00 04/16/07 Long 1 DEC 08 Cotton 64.50 67.15 $1,325.00 07/27/07 Long 1 DEC 07 Coffee ‘C’ 115.30 119.20 $1,462.50 06/19/07 Long 1 DEC 07 Coffee ‘C’ 120.50 119.20 ($487.50) 03/23/07 Long 1 SEP 08 […]
From Agora’s Kevin Kerr: “The flooding and prior steamy hot weather,” reports Kevin Kerr from the commodity pits, “are going to make this year’s harvest a big disappointment.” “Kernel counts for corn are poor, and with all this wet weather, many soybean crops are underwater or will get hit by mildew and disease. Not to […]
Scary moment last Thursday. Like many commodity investors, I was feeling good about the fact that commodities are not highly correlated with other asset classes. Or so I thought. My account had been holding up well throughout the credit crunch. Then all hell broke loose on Thursday. Many hedge funds had margin calls, and were […]
From Agora’s 5 Minute Forecast: “Wheat, arguably one of the most important human food crops worldwide, is suffering a double whammy: decreased production due to changing climate (droughts in Australia and the Ukraine, floods in Kansas — we lost our entire wheat crop this year in south central Kansas due to excessive rain) — and […]
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