NYU Professor Nouriel Roubini gives a rather bleak outlook for the good old USA in this Barron's interview.
Click on the post title (Yikes) for the video interview.
If you don't believe Professor Roubini watch this Colbert Report for the whole truth.
Click on the read more icon for the Colbert video.
read more | digg story
8/04/2008
8/03/2008
Atlas Shrugged
Finally read Atlas Shrugged, by Ayn Rand while I was on holidays. You see it listed as a must read in many business and investing books so I thought I should read it.
It did not disappoint. It is one of those books that you miss when you're done.
My only criticism is that Rand is one of those authors that feels the need to use a thousand words to describe something when ten would do the job.
If you read you learn to skim.
That said it is a great book, a wonderful case for capitalism and a dire warning for government bureaucracy that attempts to control it.
It was written in 1957 but stands today as relevant as ever.
Give it a read.
It did not disappoint. It is one of those books that you miss when you're done.
My only criticism is that Rand is one of those authors that feels the need to use a thousand words to describe something when ten would do the job.
If you read you learn to skim.
That said it is a great book, a wonderful case for capitalism and a dire warning for government bureaucracy that attempts to control it.
It was written in 1957 but stands today as relevant as ever.
Give it a read.
Speculators Aren’t Driving Up Oil Prices, Report Says
A little story I missed while on holidays.
The question as always remains if speculators were responsible for driving up the price of oil, who is responsible for driving down the price of oil?
It's always interesting to watch governments and people reaction to economics they don't like. Crude oil goes up in price, we don't like that so let's blame someone.
Crude oil goes down in price, we like that, so it's just normal supply and demand economics.
"A preliminary study by a federal task force concluded that the rise in oil prices over the last five years was “largely due” to rising demand for oil, rather than speculation."
Click on the read more icon for the full NY times story.
read more | digg story
The question as always remains if speculators were responsible for driving up the price of oil, who is responsible for driving down the price of oil?
It's always interesting to watch governments and people reaction to economics they don't like. Crude oil goes up in price, we don't like that so let's blame someone.
Crude oil goes down in price, we like that, so it's just normal supply and demand economics.
"A preliminary study by a federal task force concluded that the rise in oil prices over the last five years was “largely due” to rising demand for oil, rather than speculation."
Click on the read more icon for the full NY times story.
read more | digg story
8/01/2008
Trading The Trend
I am using the 3 minute chart for direction and trend identification. Today we only saw one trend that I could trade, long as shown on the first chart.
There were short moves on the range bar chart that you could have traded after that but the 3 minute didn't get there until the end of the day.
Patience is a virtue.
So I'm told.
(click on charts to view)
The daily crude oil chart seems to have found support on the 89 EMA (yellow) as it has been on it for 8 days now. It will be interesting to see if it holds or drops down to or through the 144 EMA (blue).
There were short moves on the range bar chart that you could have traded after that but the 3 minute didn't get there until the end of the day.
Patience is a virtue.
So I'm told.
(click on charts to view)
The daily crude oil chart seems to have found support on the 89 EMA (yellow) as it has been on it for 8 days now. It will be interesting to see if it holds or drops down to or through the 144 EMA (blue).
7/30/2008
Trading Crude Oil, Again
The barrel count is usually a nice day to trade and today was no exception with most signals offering good follow through.
I was using the 3 minute chart with the 34 and 89 EMAs for direction and waited for the 34 to get on the trade side of the 89 before taking any signals on the range bar chart.
Today's entry signals on the 16 tick range bar chart.
(click on charts to view)
I was using the 3 minute chart with the 34 and 89 EMAs for direction and waited for the 34 to get on the trade side of the 89 before taking any signals on the range bar chart.
Today's entry signals on the 16 tick range bar chart.
(click on charts to view)
7/29/2008
Oil Went Up, Oil Went Down
Well it was an interesting month for crude oil while I was away. Crude had been bouncing off the daily 34 EMA (white) for months and had not broken the 89 EMA (yellow) since February. Now it looks like the 144 EMA (blue) could be next.
We shall see.
NYMEX Light Sweet Crude Oil Daily Chart (click to view)
The fall for natural gas has been even more dramatic as the seasonal demand drops it adds to the short pressure.
NYMEX Henry Hub Natural Gas Chart
Hopefully volume sticks around for August and we see more action like this.
If you want to see some pics from this trip and others check out the solfest photography link.
http://flickr.com/photos/dudesolfest/
We shall see.
NYMEX Light Sweet Crude Oil Daily Chart (click to view)
The fall for natural gas has been even more dramatic as the seasonal demand drops it adds to the short pressure.
NYMEX Henry Hub Natural Gas Chart
Hopefully volume sticks around for August and we see more action like this.
If you want to see some pics from this trip and others check out the solfest photography link.
http://flickr.com/photos/dudesolfest/
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