Crude Oil plunged to new 6-year lows on Monday, the trading day after OPEC decided to lift their output target which pushed the price of Oil below the August 24th low. We stated earlier that what separates this move from the August move is that the August move was a momentum-based worldwide dump of risk assets whereas the current move towards presumed new…
The decision of the Organization of the Petroleum Exporting Countries (OPEC) – the international cartel of oil producers – to not curb the output of crude, which was announced at its meeting in the Austrian capital of Vienna on Friday, Dec 4, turned out to be a boon for stocks in the airline space. The…
Oil is plunging again, this time in the wake of OPEC’s inability to limit its members’ production. The US dollar, meanwhile, is up on the divergence between Fed tightening and ECB/BoJ/BoC easing. This widening gap is a perfect storm for the many, many entities that have borrowed dollars to speculate in foreign currencies or drill…
US equities were lackluster in light trading. Eye are focused largely to the near future, with the FOMC meeting December 15-16, the significant stock options expiration on December 18th, and of course, the traditional ‘Santa Claus’ rally into year end. Consumer Credit came in light today. Have a pleasant evening.
Menny Shalom is CEO of Wayerz. What are the core challenges in transferring money between financial institutions? Today using the banking system to wire money is almost unrealistic – as it represents the old-banking world – very expensive service for very poor service. Both parties (the sender and the receiver) don’t know when the wire will…
When it comes to investing, there are no bonus points for originality. Returns are returns, regardless of whether the trade was your idea or a hot tip from your brother in law. The good news is that the SEC makes available far better trading moves than those of your brother in law. Large institutional investors…
The Chart of the Day belongs to Fox Chase Bancorp (NASDAQ:FXCB). I found the savings bank stock by using Barchart to sort the Russell 3000 Index stocks first for the highest number of new highs in the last 20 trading session, then again for a technical buy signal of 80% or better, then I used the Flipchart feature to review the…
Perverse Central Bank Battle In the perverse central bank battle to defeat price deflation, the central banks are having a rough go of things. The price of West Texas Intermediate (WTI) light sweet crude is down 6 percent today to lows last seen late 2008 and January 2009. West Texas Crude Monthly There has not…
We spent a pleasant weekend back in the old country – Ireland. It rained almost the whole time. But life in the pubs was bright and cheery. We are renovating a handsome, but derelict, old mansion in County Waterford on the southeast coast. It will be our new European headquarters. New headquarters in old mansion……
Verizon Communications may consider the possibility of acquiring Yahoo if a deal makes sense, according to Fran Shammo, the CFO of the telecommunications company. During an industry conference in New York today, Shammo said Verizon could be interested “if Yahoo is right,” but he made it clear that it is too early to tell. According to him,…
