No one gave me what I worked for ... there was a time I had a full time job and 3 parttime jobs, I had no life other than the jobs, hard to spend money too as I was either working or sleeping ... My point is no one knows what they can do until they try, and if everyone keeps looking for the easy way out, the handouts, they will NEVER know what they're made of. [more]
Watch. Crude will close up today. [more]
With any product, but especially commodities, you have multiple scenarios; as those scenarios play out you can make money, lose money, or go no where ... it's supply AND demand AND speculation.
Possible scenarios (a few examples): [more]
I went to the US EIA website and in the search box, typed in "Contango" ... [more]
Our markets, the DJIA, the Nasdaq, and the S&P, as well as many other indicii, depend on the Energy Sector. If the Energy sector has a bad day ... the markets are going to have a bad day. [more]
I know the headlines. Worried about another SURPRISE increase in the US EIA report for tomorrow? The "talking heads" always focus on the trees ... never seeming to see the forest, and certainly not reporting on it. The talking heads new buzzzzz word is "demand" and new buzzzz phrase "demand is falling". Magicians get away with it by getting you to focus where they want you watch and not where they're pulling off the trick. Scam artists too. Could Madoff have gotten away with his fraud for so long if his investors looked at the whole forest, instead of the individual trees Madoff was pointing to? [more]
Here's a real good question: Do you lease a tanker for a 3 to 6 month time frame, at $68 - 70,000 USD per day if you're going to DUMP the cargo tomorrow? Not unless you're planning to use the ship for a $70k a day doorstop, or paper weight. Iran, a member of OPEC, leased 6 tankers ... Iran's production cuts ... (ha. ha) are going into tankers. [more]
Did I Get It Right? ... [more]
contango Definition A condition in which distant delivery prices for futures exceed spot prices, often due to the costs of storing and insuring the underlying commodity. Opposite of backwardation.
Yesterdays' expiring February WTI contact was priced at $34/bbl, a $24 discount to the January 2010 contract currently trading at $58/bbl. That's contango! [more]