Investing and Trading News, with a Contrarian, Sarcastic Twist!
I feel like a broken record – but this is one helluva ride! Wheat futures crossed the 800 cents mark this morning.Chart There are ongoing harvest problems contributing to the situation. Remember that wheat inventories are already at a 26-year low, so there is no slack in the system. How high can prices go? Honestly […]
Date Position Qty Month/Yr Contract Strike Call/Put Entry Price Last Price Profit/Loss Market Value 01/22/07 Long 1 DEC 08 Cotton 63.00 70.00 $3,500.00 04/16/07 Long 1 DEC 08 Cotton 64.50 70.00 $2,750.00 07/27/07 Long 1 DEC 07 Coffee ‘C’ 115.30 115.70 $150.00 06/19/07 Long 1 DEC 07 Coffee ‘C’ 120.50 115.70 ($1,800.00) 03/23/07 Long 1 […]
Check out this 6-month chart:http://charts3.barchart.com/chart.asp?sym=ZWU7&data=A&jav=adv&vol=Y&divd=Y&evnt=adv&grid=Y&code=BSTK&org=stk&fix= Though unfortunately I am not basking in the full glow of this rally, because I own next year’s contracts. Why are contracts lower for next year? I believe because record high prices will prompt farmers next spring to plant more wheat – which should bring more supply on the market […]
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 […]
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