Oil is charging higher again this morning. The Associated Press tells us that: Oil hits new 6-month high above $65
Why? Oil inventories plunged in the latest EIA report – dropping by 5.4 million barrels. It was the third week in a row that stockpiles have dropped. However, crude inventories remain near 19-year highs. There is [...]
From the monthly archives:
May 2009
Yesterday, I recorded a new video for MoneyandMarkets.com. You can find that here: http://www.moneyandmarkets.com/mam-tv/
Look for my 05/27/09 video.
I know we’re having issues with our webcasts — I’ve passed your complaints along to the technical gurus at Weiss. They’re working on it. In the meantime, I’ll continue to keep posting rough transcripts of the videos, which [...]
Most economists see recession ending in ‘09
More than 90 percent of economists predict the U.S. recession will end this year, although the recovery is likely to be bumpy.
XX Sean’s note – I think they’re wrong. Leading Economic Indicators have turned up, as I’ve written about in my May 15th Uncommon Wisdom Daily column (Gain, Pain [...]
Here’s what I’m watching …
#1 – The China Syndrome
In Friday’s column for UWD, I talked about how China is moving from long-dated US Treasuries to short-dated US Treasuries as it prepares to move away from the dollar. That was a strong theme in the news cycle over the weekend.
China ready to discuss new reserve currency [...]
Quote for the day …
“Give me control over a nation’s currency and I care not who makes its laws.”
– Baron M.A. Rothschild
As Dollars Pile Up, Uneasy Traders Lower the Currency’s Value
The dollar was on a roll just a few months ago, bounding higher against foreign currencies as investors sought a safe hiding place for [...]
I am working hard today, so no time for a long post. Here’s an interesting news item that is more ammo for the argument I made in today’s UncommonWisdomDaily.com column, “Profit opportunities for the quick and bold”…
China has long way to go to dislodge dollar
China is on the offensive. Long a bystander in international economic [...]
In the MaM TV video published Thursday afternoon, I promised to give you a link to an updated version of this chart …
And here is the link: http://stockcharts.com/h-sc/ui?s=SPY&p=D&yr=0&mn=3&dy=0&id=p97478500934&a=167132232
It should update throughout the trading day.
Remember, the market is closed on Monday for Memorial Day.
Gas Is Up; Drivers May Not Cut Back
Some analysts expect to see gas rise above $2.50 a gallon this summer. The number of people traveling by car this weekend is projected to rise by 2.7 percent compared with 2008, to 27 million people, according to projections from AAA. Last year, road travel fell by 9.6 [...]
This week, President Obama announced plans to raise auto gas mileage standards and cut the emission of greenhouse gases in what he called the start of the “clean energy economy.”
This means a lot of things, but there are many other factors that will affect gasoline prices, up or down. And I’ll get to the unintended [...]
