Energy Prices Rise to Begin Q2 - April 1, 2013 22:40

The first quarter of 2013 were a complete roller coaster ride in the energy space.  We saw U.S. gasoline futures de-couple from Brent crude prices on RIN speculation and natural gas prices close the quarter back over $4.00 per million BTUs for the first time in nearly 2 years.  Quietly, with the continuing saga unfolding […]

Cyprus Risk-Off Trade Pulls Equities Lower - March 18, 2013 22:21

The S&P 500 and the Dow Jones Industrials both closed off slightly today as this was a risk-off kind of day in most every way.  Following up Friday’s weakness into the close with today’s drop is creating a pause in equities as fresh fears over the stability of the European banking system have been raised […]

Dow Momentum Carries S&P Without Conviction Higher - March 8, 2013 2:50

I’m going to call a spade a spade here and say that it’s pretty easy to move 10-12 stocks in a price-weighted index like the Dow Jones Industrial Average which can have huge spillover effects into other markets, creating momentum-driven buying or selling — especially in today’s algorithm-based pseudo markets — that are completely divorced […]

Market Stability Has Been Acheived - March 5, 2013 1:05

This may have been the most boring Monday in the markets I’ve seen in a long time.  The only thing that is for sure, however, is that the S&P 500 will rise and if it doesn’t do so early in the session it will do so late.  So, officially, as Zerohedge pointed out, a new […]

Brent Arrests Slide as WTI Spread Widens - February 13, 2013 1:39

Brent Crude prices reversed a two-day slide that began last Friday after coming within sight of $120 per barrel on short-term inflation expectations.  In doing so the spread between it and West Texas Intermediate Crude widened back above $20 per barrel.  The spread had narrowed considerably on the re-opening of the Seaway pipeline.  But traders […]

Euro Bolts Past $1.35 on U.S. GDP News - January 31, 2013 1:11

I certainly hope that people who are short the Euro would get it through their skulls that it doesn’t matter what the U.S. financial press (or Zerohedge for that matter) says about the Euro-zone.   When you compare the situation with the Euro versus the situation with the U.S. Dollar the Dollar is the far uglier […]

Gold Pushes Towards $1700, Oil Tags Along - January 2, 2013 23:28

My daughter recently discovered the original Muppet Movie on Netflix and while watching Gold and Oil today all I could think of was the great duet between Kermit and Fozzie at the beginning of the movie…. ‘movin’ right along’ indeed.  Gold popped higher this morning on news that the House had approved — ostensibly with […]

Commodities Taken to Woodshed In Election Bloodbath - November 7, 2012 22:11

Equities have put in one of the worst days they’ve had in months today on the news that Barack Obama survived his recall vote yesterday.  Tax rates on dividends and capital gains are likely to rise and the fiscal cliff is approaching rapidly.  The truth is that there was little substantive difference between the two […]

Gold Threatens the $1700 Level as Equities Sag - October 23, 2012 23:01

The fear trade seems to be returning in full force, but this time it is fear of a true global recession that is driving capital back into the very fickle arms of the U.S. Dollar and, to a lesser extent, U.S. Treasuries.  After as successful defence of 79 the USDX has moved back to 80 […]