Israeli air strikes into Syria over the weekend caused a spike in crude oil prices when the futures opened on Sunday night. While neither Israel or Syria are relevant for the global oil market, traders …
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Reminder: Dan and I will be Hosting a Free Webinar on Monday April 22nd at 4:15pm EST previewing AAPL’s Q2 earnings report and we will debate 2 options trade structures that we are considering to play the event. …
Continue readingI mentioned my long-term expectation for lower commodity prices in this morning’s Macro Wrap. I promptly received a question about my thoughts on crude oil. The 3 year chart of the front month WTI crude …
Continue readingTo give you a sense of the importance of the European banking crisis, let me throw out a few points. European bank balance sheets have assets that total around $40 trillion. In contrast, American bank …
Continue readingEnergy (as measured by XLE) is the best performing major sector in the U.S. market this year, up more than 8% vs. the 5.2% advance for the S&P 500. It had been a forgotten pocket …
Continue readingCrude Oil has had quite the steady bleed today. Today is the 3rd decline of 2% or more since QE3 was announced, and it’s added up to a steep selloff for oil in the past …
Continue readingThe recent 10% decline in crude oil after the QE3 announcement caught everyone’s attention with the speed of the decline. Though stocks have pulled back, they are still near the highs of the year, while …
Continue readingWTI Front month crude oil rallied more than 9% on Friday. That was the first +9% rally in the front month contract since March 12th, 2009. It’s even rare that you have a one day …
Continue readingAs oil falls, the bull market cheerleaders are starting to use it as part of the bullish thesis again. As Dan said in his MorningWord today, we are not cheerleaders, just traders trying to make …
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