The price of a barrel of oil would be closer to 10 dollars per barrel if the commodity wasn’t traded as an investment instrument, given the record-high levels of U.S. oil inventories, Peter Beutel, president of Cameron Hanover, said: “I honestly think that if there were no investors using oil as an asset that the [...] [...more]
The above chart represents the seasonality for Crude Oil Futures Continuous Contract (CL) for the past 20 years. Date range: January 1, 1990 to December 31, 2009 Source: Equity Clock If you look at this seasonal chart you can see the bad seasonality from October to late December. If you add the large contango in [...] [...more]
Oil futures are showing large contango spreads in the November and December contracts. November and December futures are trading 2.3% and 4.4% respectively, above front month prices. That is a carry trader paradise, especially if you are bearish on oil or on the economy in general. Small investors using the oil ETF`s also benefit from [...] [...more]
Japan’s Nikkei 225 stock average added 80 points, or 0.9 percent, to 8,904 after hitting a 16-month closing low the previous day. I am still long Nikkei Futures expecting a continuation of the rally. My first target is 9100. Yesterday`s action was a little disappointing. I was antecipating a rally that didn`t materialize, but today`s [...] [...more]
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