November crude oil was higher due to short covering overnight as it consolidated some of Wednesday's decline. Stochastics and the RSI are turning bearish again signaling that sideways to lower prices are possible near-term. If November extends the decline off September's high, the 62% retracement level of the June-September rally crossing at 87.19 is the next downside target. Closes above the 20-day moving average crossing at 93.75 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 91.14. Second resistance is the 20-day moving average crossing at 93.75. First support is the 62% retracement level of the June-September rally crossing at 87.19. Second support is the 75% retracement level of the June-September rally crossing at 84.29. Continue reading "Morning Energy Market Commentary"
Will Changes to Redbox bring on a Coinstar stock revival?
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Home movie watching has dramatically changed in recent years. With online streaming services such as Netflix, brick-and-mortar stores like Blockbuster have become practically obsolete. Continue reading "Will Changes to Redbox bring on a Coinstar stock revival?"
MarketClub TV for 10/03/12: Zero hour, 9 PM ET
Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Wednesday, the 3rd of October.
All eyes will be on the presidential debate this evening at 9 PM, Eastern Time. We expect the markets will be little moved until after the first debate.
According to our poll yesterday, it would appear that Ben Bernanke has more power over the markets than both Pres. Obama and presidential challenger, Mitt Romney.
As an independently registered voter, I take my vote very seriously. I always do as much research as I can on both candidates. This video link on President Obama found its way into my mailbox. I found it very interesting and wanted to share it and I believe no matter what your political persuasion it is worth watching. If you have any interesting videos on Mitt Romney, feel free to share them with us.
Be sure to watch the debate tonight. Continue reading "MarketClub TV for 10/03/12: Zero hour, 9 PM ET"
Why My Portfolio Gained 30% This Year: John Stephenson
The Energy Report: John, In your last interview, you were pretty optimistic about much higher oil prices. What can you attribute the oil market's recent weakness to? Did everyone just get spooked?
John Stephenson: There was a rumor that the U.S. was going to release strategic petroleum reserves, which would lower prices at the pump and also lower prices in the world market. It would be a temporary fix, because the actual total volume of the reserve is only about a month's worth of U.S. consumption. Nonetheless, it would definitely lower prices. There's some waning of geopolitical risk, and some of that risk rhetoric was positive for oil prices.
The European ban on importing Iranian oil has had a pretty dramatic impact on tightening supply. It's roughly equivalent to when Libya was offline because of its revolution. That same level of production, about 1.5 million barrels (MMbbl) is off the global market now, creating a fairly tight supply picture. Then there is the Israel/Iran nuclear confrontation, which has also driven oil prices higher. Realistically, there's very strong support for oil prices in the $9095 per barrel (bbl) range because one of the big sources of demand for oil has actually turned out to be the Middle East itself, where the producers are becoming their own best customers. They're like drug dealers getting hooked on their own supply, and their consumption growth rates are double those of China. Continue reading "Why My Portfolio Gained 30% This Year: John Stephenson"
Gold Rush!
By Mike Landfair
I’ve recommended buying Gold since 2004 and I always get the look. Are you crazy? Or Gold? Isn’t that risky? Or, How do I buy it? Or, Hasn’t it already moved? They may ask how much should I buy and I’ll give them a percentage and they will say, Where do you I buy it? Should I buy Gold or stocks? What are you doing with your money?
Then a year or two later, I’ll meet them again and they’ll say, “Do you still own your Gold?” I’ll say yes I do. And they will say, “I wished we’d bought it when you told us. We just took a big hit in the market. Of course Gold is too high now, isn’t it?”
Here we are at $1775 as I write this and I think Gold will double from here and Silver could be at $100 or more, maybe in 2013. When I suggest this to anyone who asks me what I’m doing to get better returns than CDs, I always get the look. Continue reading "Gold Rush!"
