Investing and Trading News, with a Contrarian, Sarcastic Twist!
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 […]
From Agora’s 5 Minute Update earlier this week: “The U.S. market is the only one where coal prices are not at multiyear highs,” Chris Mayer reminded us in his latest agorafinancial.com “quick take.” “U.S. coal companies are sucking wind right now,” writes Chris, queuing off of a recent WSJ story. “The only coal company to […]
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