November 14, 2008
Volatility continued this week. Both commodity and stock markets have seen wild swings. Lind Plus Senior market strategists Daniel Pavilonis and Phil Streible have been on top of the markets and were recently quoted on Bloomberg and Morningstar.
Commenting on the continued government intervention, Phil Streible said, “The China stimulus package news just fizzled.” You can read the entire here: Commodities Tumble on Economy.
Commenting on the tone of the market, Daniel Pavilonis said, “The aura of this whole situation is pretty negative, and it’s probably going to be pretty negative until we bottom out.” You can read the rest of the article here: Commodities Resume Slide on Economic, Demand Fears.
October 27, 2008
Lind-Waldock Senior Account Representative Tony Klancic offered a primer on futures trading and the gold delivery process as part of an article for ResourceInvestor.com. Tony’s piece comes after Gene’s commentary, which is summarized below.
Got Gold Report – How to Buy Physical Gold and Silver on the COMEX
By Gene Arensberg
24 Oct 2008 at 07:25 PM GMT-04:00
Think the futures price of metals is too low? The Got Gold Report reports on how to buy and actually take delivery of gold and silver metal from the futures markets that have savaged the price of them so much. If the COMEX is determined to under price its physical metal, then they ought not to mind seeing it leave their warehouse for the popular physical market.
Read the article here.
October 23, 2008
Lind Plus Senior Market Strategist Jeff Friedman was quoted in the Chicago Tribune today on how financial professionals are coping with the market’s wild ride. Read full article.
You can hear more from Jeff in a Lind-Waldock live webinar today at 3:30 p.m. CT. Jeff will give his views of the market ups and downs. It’s free to attend, register here.
Turmoil pushes traders to edge
Lack of confidence, surplus of stress dominate floor
By Joshua Boak, Tribune reporter October 23, 2008
By 5:30 a.m.—a good three hours before the stock market opened—Jeff Friedman was anticipating another rough day.
“It’s like a pounding surf in the ocean or whitewater rapids: You swallow some water, you’re coughing it out, you’re gasping for air, and when you’re about to catch your breath, here comes another big wave,” said Friedman, who started his career as a runner on the Chicago Board of Trade floor 30 years ago. More
October 8, 2008
Lind Plus Senior Market Strategist Carol Hurley was interviewed in the Chicago Tribune today in an article on coping with stress. Her photo appears in the printed version, but you can read her comments in the Chicago Trib online. Carol gave the perspective of how many traders cope. ”I notice a lot of people work out, but they also tend to drink a lot, so they go from one extreme to the other to create that balance. You hit the gym one night, hit the bar the next night,” she said.
October 6, 2008
Stocks Sustain Slump
By Jeff Friedman
Congress passed the $700 billion financial bailout last week, but the enthusiasm in the stock market was short-lived. People are worried about the price that will have to be paid, and the possibly of a not just a small recession, but a big one. Economic data is gloomy, and the stock market is taking a hit. The S&P 500 is now down about 25 percent on the year. This thing is ugly, and technicals are signaling further possible losses.
You could summarize last week as a flight to quality. The markets are in fear mode. As stocks slid, the three-month Treasury bill rate fell to levels not seen since World War II (hitting 0.0203 percent on September 17). The dollar rallied on ideas we in the U.S. are better off than in Europe, which is now feeling fallout in its financial sector. It looks like interest rates will need to be cut abroad as the need for government bailouts has spread to Europe. In Germany, commercial property lender Hypo Real Estate was the latest bailout target, and fears of massive bank withdrawals led Chancellor Angela Merkel to say the government will guarantee savings of private account holders. (more…)
October 2, 2008
Friedman’s Futures Forecast: October
By Jeff Friedman
All I can say with some certainty about the market outlook for October is that volatility has exploded—get used to it! We are in historic times. Last month, I thought the stock market might test a bottom, but that we’d largely have a trading affair in most commodity markets. I did not imagine what a rollercoaster ride it would be.
We have faced at an emergency government rescue of the financial sector, which will affect not only Wall Street but also Main Street too. I don’t like to call it a bailout, but everyone knows the figure and it’s huge, $700 billion. Bear Stearns, Fannie Mae, Freddie Mac, AIG, Merrill Lynch, Washington Mutual, I’m not sure I can count all the victims of this financial crisis in the past month. We might have more to come. This emergency measure was needed because credit, the ability to borrow, has frozen up. You may say you don’t care, but you should. It affects us all. And it’s affecting world markets, as the events of the past few weeks have proven we are all tied together in the global economy.
We know that when America sneezes, the world can catch a cold. The U.S. might not have the same influence we had previous eras, but if our economy breaks down, other nations will feel the pinch. The initial financial rescue package spearheaded by Treasury Secretary Paulson and Federal Reserve Chairman Ben Bernanke failed to pass through Congress as September came to a close, and revisions and concessions had to be made. It gives the Treasury authority to buy bad assets from companies’ books, raises FDIC deposit insurance to $250,000 from $100,000, and includes some tax breaks for both businesses and consumers. The revised package got the stamp of approval from the Senate, and it goes now to the House of Representatives for vote Friday, October 3. I think it will pass. (more…)
September 9, 2008
Lind-Waldock has just launched a new campaign, “Commodities Are Everywhere,” to showcase how commodities affect our everyday lives, and how individuals can invest in them. Enter our virtual kitchen at CommoditiesAreEverywhere.com and get contract specs and fun facts about commodities, view short online informational videos about commodities, and view our commercial too.
August 4, 2008
July 30, 2008
Gold futures took a bit tumble today, with the August COMEX contract closing down $13.60 at $902.90 an ounce, after hitting a one-month low intraday. The financial press cited a stronger U.S. dollar and equity market rally as reasons gold has lost some of its appeal today. Lind Plus Senior Market Strategist Dan Pavilonis gave his take on metals market action in a Dow Jones article by Allen Sykora.
July 22, 2008
Lind Plus Senior Market Strategists Adam Klopfenstein and Phil Streible were both quoted in Bloomberg articles in the past week. Read Phil’s thoughts on sugar in an article by Ron Day on July 22, and Adam’s comments on a mid-July commodity slide in articles by Millie Munshi and Ron Day on July 18. Phil Streible also gave his thoughts on corn in an article on MarketWatch.com by Moming Zhou on July 16.
Loading ...