Category: General

Hugo Chavez Is Gone, but His Oil Legacy Lives On

Posted on by The INO.com Team

On March 5, 2013, Hugo Chávez, one of the most iconic presidents in the world, died at the age of 58. While he was alive, Chávez was a highly controversial figure, calling George W. Bush a drunkard and a "psychologically sick man" and Tony Blair an "imperialist pawn who attempts to curry favor with Danger Bush-Hitler."

Like him or hate him, Chávez definitely had a huge following in Venezuela, as well as the entirety of Latin America. His anti-American and socialistic rhetoric made him an ally of Fidel Castro in Cuba and Ahmadinejad in Iran. Combined with Correa in Ecuador, Fernández in Argentina, and Morales in Bolivia, Chávez was able to make a front in South America against the "evil imperialist gringos."

But with him no longer in the picture, things will change, and cheap Venezuelan oil will be able to flow into the markets, right? Continue reading "Hugo Chavez Is Gone, but His Oil Legacy Lives On" →

Weekly Futures Recap W/Mike Seery

Posted on by The INO.com Team

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Precious Metal Futures-- The precious metals were mixed this week with silver futures getting hammered this Friday afternoon down $.56 at 28.65 an ounce down around $.20 for the trading week stuck in a 4 week sideways pattern which is unusual for silver to have this low of volatility for this long of a stretch still trading below its 20 day moving average which currently stands at 28.85 and far below its 100 day moving average which is at 31.65 with major support at $28 an ounce. Gold futures for the April contract my opinion are forming a rounding bottom trading higher than their 20 day moving average but below their 100 day moving average with stands at 1, 666 with major support at 1, 560 and the next resistance level which happened about 4 weeks ago at 1, 620 and if those levels are breached which I think could happen next week you will start to see the bull market come back while closing last Friday at 1, 593 up around $15 for the trading week. Copper futures for the May contract are still trading below their 20 and 100 day moving average finishing this week a positive note up around 300 points at 3.47 after settling last Friday at 3.52 down about 500 points for the week but coming off weekly lows which were hit at 3.40 which also created an 8 month low and I am scratching my head wondering why copper prices keep going down the housing market is doing so well if you look at lumber prices they are right near contract highs and the stock market continues to rally basically on a daily basis which I would think will start to lend support in the copper market and I do believe you should start taking advantage of these weak prices. Continue reading "Weekly Futures Recap W/Mike Seery" →

Chart to Watch - FSYS

Posted on by The INO.com Team

We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.

Today he is going to take a look at the technical picture of Fuel Systems Solutions, Inc. (FSYS).

I hope you are having a GREAT week !

Let's take a look at FSYS this week.

FSYS made a double bottom base and a huge move higher out of the base, which means sharply higher prices could be on the way for FSYS. Continue reading "Chart to Watch - FSYS" →

Poll: Do you participate in March Madness?

Posted on by The INO.com Team

March Madness kicks off today and offices everywhere are finalizing their office pools. My family and I put the finishing touches on our family bracket challenge last night. It's become a tradition in our house, with the winner earning bragging rights for a year. I thought it would be fun to ask our readers....

Do you participate in March Madness?

View Results

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I would love to hear who you think is going to win as well. I'm going with Indiana for the win.

Every success,
Jeremy

Average for U.S. jobless claims at fresh 5-year low

Posted on by The INO.com Team

The number of people seeking U.S. unemployment aid barely changed last week, while the average over the past month fell to a fresh five-year low. The decline in layoffs is helping strengthen the job market.

Weekly unemployment benefit applications rose just 2,000 to a seasonally adjusted 336,000, the Labor Department said Thursday.

Over the past four weeks, applications have dropped by 7,500 to 339,750. That's the lowest since February 2008, just three months into the recession.

Economists pay close attention to the four-week average because it can smooth out week to week fluctuations. The steady decline in unemployment claims signals that companies are laying off fewer workers. That suggests many aren't worried about economic conditions in the near future. Continue reading "Average for U.S. jobless claims at fresh 5-year low" →