I am torn on oil therefore have no positions on for clients. In the August contract we violated the trend line that has held since mid-May but quickly rallied back to close slightly lower in today’s session. We’ve seen a 50% Fibonacci retracement at today’s lows but have a sneaking suspicion we could see...
Full Post »

ECB refinancing does little to prevent limp yields
Full Post »

Weaker appetite for ECB funding encourages euro
Full Post »

Double-whammy from NY Conference Board sinks recovery hopes
Full Post »

Back to the core
Full Post »

If investors are not interested/confident I am a seller. When August Crude took out $77.70; the 9 day MA mentioned yesterday buyers disappeared and as of this post prices are below the 20 day MA down 3.40% on the day. The path of least resistance is down and this leg could drag prices back to...
Full Post »

Bank of Japan Deputy Governor Kiyohiko Nishimura discusses “informational advantage” this week at the Lujiazui Forum on economics and finance in Shanghai: “In my understanding, the Volcker Rule is designed to deter banks from taking excessive risk in capital markets, where volatility is inherently high and...
Full Post »

Though Crude held the 9 day MA we did not like the price action. Those long could stay long but we suggest trailing stops as a settlement below $77.70 on the August contract signals a break lower. We advised our clients who were long to exit at a small profit and move to the...
Full Post »

Stimulate or retrench
Full Post »

Monday June 28, 2010 Investors once again bought core government bonds after the G20 reiterated the fragile and uneven nature of the global economic recovery. The appeal of fixed income payments was also heightened in this benign inflationary period as the message emanating from leaders of leading world nations included a pledge to halve deficits...
Full Post »