Gold has worked down from Alexander's time... When something holds good for two thousand years I do not believe it can be so because of prejudice or mistaken theory.
Bernard M. Baruch
It does not take much in the way of volume to move markets in thin trade so be careful. Wind was taken from the bulls sales in Crude this week as prices traded down to seven month lows. August Crude is finding buyers at $90/barrel but that level will need to hold or prices could see $85 in the coming weeks. Some clients are long from higher levels and I’m thinking we see $95 before $85. The distillates will need to bottom before we see any upside in Crude as well. That did not happen today with ...
A rising tide lifts all boats! As stocks increase and metal bulls get back in the driver’s ‘s seat look for commodity appreciation. Crude manages a slightly higher close but the real story is the prices should settle $2 off their intra-day lows as trades below $92/barrel were rejected in August. If the distillates did not trade 1-2% lower today we would have likely seen more appreciation. On signs of an interim bottom in heating oil and RBOB that should signal a turn higher in Crude. Six out ...
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