It’s a Tuesday twofer as futures and commodities trader Rick Alexander provides his latest insights on both the energies and currencies markets.
Worries over the oil spill off the Gulf of Mexico weighed heavily on oil futures last week. But Kevin Haggerty saw it as a bonus for day traders. Read his commentary to find out why.
Heating oil has now joined crude and rbob with a buy signal as these three energies made their highest highs and close in over a month. Read what Rick Alexander sees in store for the energies in today’s session.
The state of CA has a GSP (same as GDP) larger than Greece, Spain, and Portugal combined, and it is essentially bankrupt, so the probability is that they all will get bailed out sooner or later. Find out what else is likely to affect the market over the next week.
With the Fed keeping rates steady and Obama giving his State of the Union address in conjunction with Bernanke’s reconfirmation as Federal Reserve Chairman, there is plenty of market news for Kevin Haggerty to cover this week- and the politicians would probably rather he didn’t.
Don’t expect a sugar coating from Kevin Haggerty. This week’s market commentary includes a scathing rebuke of the Obama administration’s economic stimulus plan and the presumption that when measured correctly, the unemployment rate has actually surpassed the 20% mark.
For the past few years and counting, crude oil futures have gained increasing popularity and attention from individual traders for a number of good reasons. Austin Passamonte explains why its a good commodity to trade.