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 To Play: Bottom In the Barrel?


Strengthen your portfolio in good times and bad.


OPEC Emergency

An emergency OPEC meeting is being held tomorrow. According to Bloomberg, the oil cartel's first production cut in almost 2 years -- expected to be 1 million barrels -- could fail to stop the plunge in crude as the financial crisis spreads to emerging markets.

Ben Dell of Sanford Bernstein says the correlation between OPEC cuts and price increases is practically zero and merely confirms the market is oversupplied. Yesterday crude fell to a 16-month low of $66.75 a barrel in New York. Read Toddo's view on energy in yesterday's Random Thoughts.

From the Bull Pen
: It's been a mess in the commodities sector. But Professor Adam Michael stated on the Buzz yesterday that a close for crude above $70 would be short-term positive. This would coincide with $57 for the Oil Fund ETF (USO).

From the Bear Cave: We've long maintained that lower crude was a negative indicator and that, longer term, prices are likely to decline. Bears can eye Panera Bread (PNRA) for a downside play. Note the $45 resistance level.

Quick Check Around the World

Asian trading closed with the Hang Seng -3.55%, Nikkei -2.46%, Sensex -3.92%, Taiwan -2.72% and Shanghai -1.07%.

Glancing towards Europe, we see the CAC -2.81%, DAX -3.70%, FTSE -1.55%

As of 8:10 a.m. EST, S&P Futures are trading -13 to 889, and Nasdaq futures are -13 to 1235.

A Look At Commodities

Crude oil is trading +0.16 to 66.91. Gold is -28 to 707. Silver is -0.090 to 9.370 and copper is -15.60 to 185.10.

The dollar index is +0.481 to 85.836.

On the Radar


08:30 Initial Claims

Click here for the full trading radar.

Almost Friday! Good luck!

< Previous
  • 1
Next >
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