December 31, 2008
December 30, 2008
Bullish Crude Oil Strategy for 2009
by Phil Streible
Crude oil has tumbled more than 70 percent off its record high above $147 a barrel in July, sliding below $40 in the final days of 2008. While this bearishness may persist in the short-term, I expect a rebound to $60 - $80 by the fourth-quarter of 2009 and recommend establishing a long-term bullish position now. (more…)
A recent survey of 33 analysts conducted by Bloomberg revealed that crude oil is seen averaging $60 a barrel in 2009, up from just under $40 currently. OPEC’s pledge of a 14 percent supply cut is seen crimping inventories, and the U.S. economy is also seen improving by year-end. Crude oil futures averaged $100 in 2008.
Lind Plus Senior Market Strategist Phil Streible said traders looking to establish long positions could consider the December 2009 $50/$60 crude oil call spread or $55/$66 call spread. Strife in the Gaza strip gave crude oil futures a 12 percent boost on Monday, December 29, but the market has pulled back before the Department of Energy’s inventory report, coming up Wednesday. An increase in stockpiles is expected.
December 29, 2008
What follows is a consolidated schedule for trading on some of the most popular North American futures markets for the New Year’s day holiday on Thursday, January 1, 2009. All times are Central Time (Chicago). The schedule is taken from sources that Lind-Waldock believes are accurate and are subject to change. The schedule has been assembled for informational purposes only, and Lind-Waldock is not responsible for any errors or omissions. To confirm any part of the schedule, please call your Trade Desk, or check the Web site of the appropriate exchange.
CME Group Open-Outcry Floor Trading
Foreign exchange, interest rates close at 12:00 p.m. noon
Other products close at regular times.
CME Group Globex Electronic Trading
FX, interest rate products close at 3:15 p.m.
Other products close at regular times, including NYMEX/COMEX products traded on Globex.
ICE Futures U.S. Electronic Trading
Softs trade regular hours; index products close at 3:15 p.m., financials close at 4:00 p.m.
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CME Group Open-Outcry Floor Trading closed.
CME Globex Electronic Trading closed.
NYMEX/COMEX open-outcry and products on CME Globex closed; regular CME Globex open for trade date of Friday, January 2.
ICE Futures U.S. closed; electronic softs re-open at regular time for trade date of Friday, January 2.
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CME Group Globex Electronic Trading
5:00 a.m. opening for equity, FX, interest rate, real estate, GSCI, DOW AIG ER, weather, and commodity products. Regular 9:30 a.m. opening for CBOT grains. Dairy products will remain closed until 9:05 a.m. on Monday, January 5, 2009.
ICE Futures U.S. Electronic Trading
Softs trade regular hours; index products close at 3:15 p.m., financials close at 4:00 p.m.
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For further information, please visit these links:
http://theice.com
http://cmegroup.mediaroom.com/index.php?s=43&item=639
http://www.nymex.com/holida_schedu.aspx
December 26, 2008
December 24, 2008
December 23, 2008
Cocoa Conditions Looking Bullish
By Phil Streible
Cocoa is looking bullish from both technical and fundamental standpoints, and is likely to see prices rise despite a global recession that has dampened demand in many commodity markets. Cocoa futures are facing a unique situation, with poor weather creating supply pressures. Front-month March 2009 futures are actually trading higher than December 2009 futures, an unusual situation that confirms the supply pressures. (more…)
