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  • Tough Year Lies Ahead For The U.S. Coal Industry [View article]
    The coal stocks are a crap shoot. Some of the bigger players aren't going to make it.
    Dec 28, 2014. 11:13 AM | 2 Likes Like |Link to Comment
  • Still No Reason To Buy The Dip In Natural Gas [View article]
    I live in western Canada and it is balmy for this time of year. A warm December has crushed any chance of a spike in prices. The shorts got lucky. If January is also abnormally warm, $2.50, or lower, is almost a certainty. I am waiting until mid to late January before looking at the long side.
    Dec 27, 2014. 05:55 PM | Likes Like |Link to Comment
  • The Oil Price Crisis: What Is The Economic Cost To The U.S.? [View article]
    Falling gasoline prices are not what most people would call a "crisis". If this is what deflation is all about, let's have more of it!
    Dec 27, 2014. 05:39 PM | 7 Likes Like |Link to Comment
  • 2014's Trash Could Be 2015's Treasure [View article]
    Eric, good article. Would you care to venture into uncharted waters and tell us what sectors you see as the big performers for 2015?
    Dec 27, 2014. 11:04 AM | 3 Likes Like |Link to Comment
  • Fires Still Burning In The Oil Patch [View article]
    Just about every analyst is giving the Saudis full credit for the current weakness in crude oil pricing. Why? What, exactly, are the Saudi's 'doing' that is different from other oil producers? NOTHING! All are producing at levels not much different that what existed one year ago. It is the high cost American producers that will eventually be forced, by market pricing, to cut back on their elevated crude output. It is quite conceivable that imports from the Middle east will rise once again as American oil becomes increasing unprofitable. I don't $20 oil in the cards. The bankers will make sure that American production is scaled back and probably, very quickly.

    If the US economy is truly expanding as rapidly as indicated by the recently announced 5% increase in quarterly GDP, then increased demand should sop up much of excess crude production. However, if oil demand continues to slide in America, we can be reasonably certain that the government produced GDP numbers are nothing more than a complete lie and that something is very wrong with the economy.
    Dec 26, 2014. 11:27 AM | 5 Likes Like |Link to Comment
  • Share Repurchases, Stock Sales [View article]
    Large scale corporate buybacks have exposed the EPS as the rather useless indicator that it is. A corporation that buys back 10% of it's float could experience a 5% reduction in actual earnings while at the same time, there would an improvement in it's EPS. Smoke and mirrors.

    In my opinion. corporate buybacks are a 'gift' to high net worth shareholders (including their own executives) that allow those individuals to cash out at inflated prices without having to wait for the retail customer to step up to the plate, an event that may not occur for a very long time.

    Without the buybacks, how much lower would the S&P be right now and what's the probable outcome when the buybacks dry up?
    Dec 26, 2014. 10:30 AM | Likes Like |Link to Comment
  • Is Coal A Dead Commodity? [View article]
    Coal prices are moving down. Expect more bankruptcies. I think Walter Energy is next.
    Dec 22, 2014. 10:58 AM | Likes Like |Link to Comment
  • Has QE3 Really Come To An End? [View article]
    Excellent reference! The CME would not be offering discounts to the Central Banks if there was no demand.
    Dec 21, 2014. 12:14 AM | Likes Like |Link to Comment
  • It Seems Like Hedge Funds Are Jumping Into The Gold Market [View article]
    This author's analysis appears to be badly flawed. Given that the dollar value of GDX was up 458 million and that of the triple leveraged NUGT was up less than 9 million, I fail to see how it can be concluded that the hedge funds and speculators are taking up a large short interest. In fact, large jump in the trading volume of any ETF is indicative is increased interest by all traders not necessarily those who are those of the hedge fund variety.

    Since all ETF sponsors create new units in order to meet demand, what evidence is there to indicate that there has been a significant increase in the short interest? None that I can tell from what has been presented in this article.

    The hedge funds have earned a well deserved reputation for being on the wrong side of major moves so I prefer to believe that the recent interest in the miners is the so called 'smart money' that is behind the surge in dollar value for GDX.

    Dec 20, 2014. 11:19 PM | 4 Likes Like |Link to Comment
  • The Case For $20 A Barrel Oil [View article]
    $20 a barrel? Well anything is possible but with oil demand still on the rise worldwide, I think it's much more likely that we will see $150 in the not too distant future. The current excess supply is the biggest reason why oil has fallen but with only 1or 2 million barrels of excess production, I cannot see how $20 could be possible. India and China are huge oil importers and that is only going their demand is only going one way: UP!
    Dec 18, 2014. 01:17 PM | 2 Likes Like |Link to Comment
  • This Is How A Bear Market Starts [View article]
    The energy sector, even after the vicious sell off, remains in longer term bull market and will probably recover much quicker than gold. That said, if GE is even close to developing a commercially viable cold fusion power generator, all bets are off. The vast oil complex would be in deep trouble.

    The latest pop in the S&P doesn't smell right. It's almost time for the media to be yapping about how the markets are behaving badly because the QE punch bowl has been taken away and that QE4 is a must. I suspect the current joy will be short lived although from now till XMAS may be choppy. I feel much more comfortable being short the overall market than long. Time is now the bear's friend, if that bear is patient.
    Dec 18, 2014. 12:57 PM | 2 Likes Like |Link to Comment
  • Black Gold Loses Glitter [View article]
    I am not a Schiff fan due to his never ending 'the sky is falling' predictions, but this is a thoughtfully written article that makes several good points.
    Dec 16, 2014. 01:04 PM | 2 Likes Like |Link to Comment
  • The Volatility In The UNG Continues [View article]
    This article is spot on. Good job. During the winter, production is not the issue, it's what left in storage and what are the temperatures projected to be in the populous NE of the US. A cold snap in December will not impact pricing nearly as much as a cold snap in March, especially is storage levels are below normal.
    Dec 16, 2014. 11:23 AM | 2 Likes Like |Link to Comment
  • Natural Gas: Predicting, Especially The Future [View article]
    The current sell down should be all over by the end of December. Then, it will be time to buy.
    Dec 15, 2014. 09:19 PM | 5 Likes Like |Link to Comment
  • Signs That Gold May Be Headed Higher... Finally [View article]
    The cheapest gold to export would be the stuff laying around American bank vaults, just laying around and collecting dust.
    Dec 15, 2014. 02:10 PM | Likes Like |Link to Comment