Beat Up And Down In The Dumps, Gold Pulls Off Reversal Last Friday

posted in: Commodities, Derivatives, Technicals | 0

Another down week for gold – fifth in a row!  Last Friday’s action in the meantime points to potential relief ahead – at least near-term. At one point when the metal made a weekly low on Friday, it was down … Continued

Peek Into Future Through Futures

The following are futures positions of non-commercials as of July 21, 2015.  Change is week-over-week. 10-year note: Is global growth slowing?  The ongoing slump in commodities seems to suggest that.  In this scenario, it would make sense for investors to … Continued

Soaring U.S. Corporate Bond Issuance — The Good, The Bad And The Ugly

posted in: Commodities, Credit, Economy | 0

U.S. corporate bond issuance is on track for yet another record year this year. In the first half, issuance totaled $877.7 billion, comprised of $697.8 billion in investment-grade and $179.9 billion in high-yield.  Annualized, both categories, as well as the … Continued

Weekly Covered Call Post-GLD Breakdown

The yellow metal cannot catch a break. GLD, the SPDR Gold ETF, broke down last week, losing eight-month support at $110.  The corresponding support on spot gold lies around $1,140.  Friday, gold closed at $1,132.20 and GLD at $108.65. The … Continued

Peek Into Future Through Futures

The following are futures positions of non-commercials as of July 14, 2015.  Change is week-over-week. 10-year note: Fed Chair Janet Yellen during her mid-week Humphrey-Hawkins testimony reiterated her desire to hike interest rates later this year, if data cooperate.  On … Continued

COT: Peek Into Future Through Futures

The following are futures positions of non-commercials as of July 7, 2015.  Change is week-over-week. 10-year note: After the June FOMC minutes were released, investors pushed back expectations for the first interest rate hike to March next year.  The minutes … Continued

Oil-Related Layoffs Muted — Is It About To Change?

posted in: Commodities, Economy | 0

U.S. oil-related layoffs so far subdued Not surprising given ~80% rise in crude production past five-plus years Current production level problematic given inventory spike and downward pressure on crude price The spot West Texas Intermediate crude has gone through a … Continued

Cash-Secured Put To Benefit From Potential N/T Strength In Otherwise Unloved Gold

Looking around, there is no lack of things for investors to worry about.  Although that is not the impression one gets looking at how gold is trading. After an incessant rally, Chinese stocks are in the midst of a sharp … Continued

Peek Into Future Through Futures

The following are futures positions of non-commercials as of June 30, 2015.  Change is week-over-week. 10-year note: Non-commercials continue to reduce net shorts – currently lowest since September 23rd last year.  They have reduced net shorts by 98 percent in … Continued

Peek Into Future Through Futures

The following are futures positions of non-commercials as of June 23, 2015.  Change is week-over-week. 10-year note: Yields pushed up nearly 21 basis points for the week.  Sales of both new and existing homes did well in May (even though … Continued