Supporting our highest conviction trade yet, we now see fundamentals, sentiment, and technicals aligned for a significant correction in Crude Oil prices. While DS partners already hold a position in DTO, we are moving to formally call a short term WTI Crude Continuous Spot price target at $70. Below we explain in detail our thesis
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Crude Oil The oil issue has been speculative to this point. It's hard to argue against 90 dollar oil when we saw 145 in July 2008, but the fundamentals aren't congruent with the price growth we've seen and this trader finds it easier to argue FOR $60/ barrel oil. Crude supply in the U.S. remains
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Earnings season officially began, as the first member of the S&P 500 and Dow Jones Industrial Average to grab Q4 2009 earnings headlines, Alcoa (AA), reported a net profit of $0.01 EPS on Monday, January 11. The shortfall to the $0.06 EPS market consensus was explained by CEO Klaus Kleinfield by the unexpected weakness in the dollar,
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The Institute for Supply Chain Management surprised the world on Monday morning, as they announced the results of their manufacturing managers survey. The report is essentially a survey where every manager is asked to respond to his own experience. Each manager states whether they see conditions improving, deteriorating or remaining constant, with respect to thirteen main criteria. The December survey’s
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Few expect the U.S. Federal Reserve's FOMC to announce any change to the current monetary policy. The Fed Funds rate target is expected to stay at 0.25%, despite effective rates closer to 0.1%, while language will promise that purchase programs of private debt and Fannie/Freddie mortgage products are soon to wind down. Conditions of the
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Last week you could have thrown a dart onto the floor of the CME and almost assuredly poked the eye out of a commodity bull. This week there's no telling who you'd maim. Blood and gore aside, the sideways pattern of the past three weeks is over as far as crude oil is concerned. The
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The following is a Soap Box rant in response to the question below from a good friend of mine. I felt compelled to share it with readers… Question: "So a lot of chatter here about the housing recovery and this being a good time to buy companies such as whirlpool and sherwin williams. (Basically stuff
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While we all first learned that bonds and stocks perform "inversely" of each other, because bonds are relatively safe while equity shares are more risky, it should be understood that this is firstly and finally a ridiculous adage to waste a moment recalling. The oversimplified credence should, and soon will be, destroyed once and for all as long term
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The positive durable goods report, citing new orders up 1.8% for May, fought the May new home sales numbers, below consensus at -0.6% (m/m), as conviction wavered among market movers throughout early trading Wednesday. The crux of the day's market moving news came in the form of the FOMC statement on Federal Reserve policy, where
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