Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Two Ways: Black Gold Looking Tarnished?


Strengthen your portfolio in good times and bad.

Crude Attitude

Crude oil plunged over 8% yesterday, to below $46 a barrel, due in part to gains in the dollar and concerns that the pace of any global economic recovery could impact demand.

Reuters reports US crude for May delivery fell 8.8% to $45.88; Brent crude, the larger market, dropped 6.5% to $49.86. May US contracts also expire today, which is adding to the selling pressure.

International Monetary Fund director Dominique Strauss-Kahn said the agency will cut its global economic forecasts; Strauss-Kahn doesn't expect a recovery until the first half of 2010.

For more on the economy, see Professor Kevin Depew's Five Things: Point of Recognition Edges Closer.

From the Bull Pen: For oil exposure, bulls can continue to look to Halliburton (HAL) (the stock traded dry after earnings in the face of an ugly day). Transocean (RIG) is also a possibility fading (read: buy) into $60. Remember to set a 2% sell stop.

From the Bear Cave: Bears can consider a downside play in Tesoro Corporation (TSO). Watch if $14 support holds (also its 200 DMA). If that breaks, the next level of interest would be $13; then $12. One can limit risk with a 2% buy stop above entry.

Quick Check Around the World

Asian trading closed with the Hang Seng -2.95%, Nikkei -2.39%, India -0.74%, Shanghai -0.85% and Taiwan 1.73%.

Glancing towards Europe, we see the CAC -0.51%, DAX -0.07%, FTSE -0.44%,

As of 8:20 AM EST, S&P Futures are trading -7 to 825.00, and Nasdaq futures are -7 to 1306.00.

A Look at Commodities

Over in commodities, crude oil is trading +0.12 to 46.00 while gold is +3.60 to 891.10 this morning. Silver is +0.600 to 12.160 and copper -7.55 to 202.80.

The dollar index is -0.0550 to 86.9300.

No economic events today but click here for the full trading radar:

Win Win! Go get 'em!

In memory of our fallen friend and trusted colleague, Bennet Sedacca, 100% of the donations made to the RP Foundation through April will be channeled to philanthropic endeavors consistent with the RP mission, working closely with the Sedacca clan in the distribution of those funds. We thank you kindly for your support as we strive to effect positive change in the lives of children.
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos