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Kevin Kerr gives CNBC his thoughts on the oil market. Kevin makes a great point – demand destruction is overblown, as it took $140 oil for to trigger a measly 2.5% drop in US demand. A drop in the global bucket, he says. He sees oil back up towards $150 by years end. I agree […]
Kevin Kerr discusses the current resource situation with BNN Likes gold and silver (has $1200 price target for gold, may hit this year he believes) Thinks oil will trade between $85 and $105 for a bit, before continuing its rise Current correction in base metals and grains is a good thing for traders looking to […]
Thoughts on the commodity futures markets as we put a wrap up on the week: Oil topping 140 as I write – this market continues to defy gravity. Too scary for me to try and play either side of this market. The Fed’s decision to stay put (a real shocker) really put a kick start […]
Full video Quick notes: Short investment banks – all investment banks go to “8” in a bear market Short Fannie Mae and Citibank Still likes Japanese Yen, Swiss Franc, Chinese Renminbi Recently bought airlines hand over foot (I find this very interesting) – says bankruptcies are a sign of a bottom rather than a top […]
Open Positions Date Position Qty Month/Yr Contract Strike Call/Put Entry Price Last Price Profit/Loss 06/12/08 Long 1 SEP 08 Corn 734 1/4 768 1/2 $1,712.50 05/08/08 Long 1 OCT 08 Live Cattle 105.350 109.950 $1,840.00 05/09/08 Long 1 OCT 08 Live Cattle 106.700 109.950 $1,300.00 06/11/08 Long 1 SEP 08 Wheat 867 3/4 907 1/2 […]
The dollar rally continues into the weekend, with two main drivers to thank: The belief that the Fed will raise rates later this year to combat inflation. The belief that the US economy will turn up soon, and the world will again look to the US as a place to invest. I don’t think either […]
Looks like this corn crop is toast, and the other grains could be in trouble too. High input costs (diesel, fertilizer, etc) are really hammering farmers and their motivation to replant crops this late in the year. I ponied up for a wheat and a corn contract last night. A little bummed I got into […]
4 videos from his blog – good TV. The guy is right on the ground following the grains, gotta love that. I also love the pained look on his face when he talks about these shortages, when you know the guy is trading these markets and making millions. Priceless.
Nice simple breakdown of 3 of our favorite softs – coffee, cocoa, and sugar – by the folks at Money Morning. I did not realize the coffee harvest is looking so good – suppose that’s why coffee cannot break out of it’s range. Same with cocoa – I have been avoiding due to the sharp […]
Have to admit – I’m a bit frustrated with the weakness in the meats, especially in the face of this grains rally. Doesn’t seem to make much sense, and I can’t see a scenario where meat prices are not higher in 6-12 months. This livestock report helped calm me down – it looks like farmers […]
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