Gold gained in price after expectations that Fed will do more to encourage growth, increasing demand for gold as inflation-hedge. Silver also rose due to the same reason. The euro to dollar is continuing its bearish trend due to the renewed possibility of Greece for asking for a third bailout. Cyprus is also expected to…Read moreRead more
Nothing worthwhile in life is worth doing part time. If you want to be a trader you need to be a full time trader. Being a part-timer will just get you hammered in so many more ways than you can even imagine. Don’t leave Good Till Cancelled (GTC) orders and go to sleep for two…Read moreRead more
So if you have nothing else to do over the long and lonely weekend other than mourn your losses in your USO June 19 call options, here is a short list of online courses that you can put the day break into good use for your summer internships prep. Asad, please feel free to pass…Read moreRead more
Fitch downgraded Spain by a notch and the Euro goes on a weekend slide to 1.2297 to a US dollar. With the flat consumer spending numbers released earlier Friday, it looks as if it really is going to be a long weekend. Crude Oil to follow next?
It appears that we will have another gap open when it comes to Oil on Friday morning when trading opens in New York. Oil futures at NYMEX are trading above US$ 75.38 a barrel for July deliveries. While the 4 day week starting Tuesday as well as the month end may weigh on trading and…Read moreRead more
As trading desks in New York and Europe open, they will face an interesting choice – head out early and avoid the traffic queued up for the long weekend or stay back and catch some action? Some markets in Asia (Singapore, Thailand) were closed for the day Friday; the US is closed on Monday, 31st…Read moreRead more
Crude oil future contracts for July deliveries closed Thursday at 74.90 at NYMEX capping a second day of gains after a 3% gain yesterday.
The USO (crude oil ETF) is likely to open up by a dollar between 33.65 and 34 on the strength of crude oil in Asia and Europe. Actual action in crude oil prices will be determined by the initial and continuing jobs claims data as well as the GDP deflator estimate out today at 8:30…Read moreRead more
And we are off, should see a spike and a gap up on market open across indices, markets and oil. The China reserve review rumor yesterday had markets in turmoil on anticipated Euro weaknesses. The China denial today pushed Euro as high 1.2342 in Europe and has pushed all markets beyond the green line. Once…Read moreRead more
Nauman Khan, Mohammed Bux and Agnes, our three resident oil geniuses, pulled some interesting data and graphs today. The first shows the spread as a percentage of spot price (WTI) for NYMEX CL3, CL6, CL10 and CL12 crude oil future contracts. As we had mentioned earlier in the NYMEX contract specification post, CL3, CL6, CL10…Read moreRead more