China’s still at it. Attempting to suck up every ounce of crude oil on a global basis, they are not unlike the Daniel Plainview character from There Will Be Blood, an oil magnate to whom you either leased your land or you watched as he drained the oil from it horizontally, right out from under…
Oil
Hot Links: Madoff Madness & the King of the Pipelines
Hot Links for Weekend Reading… Trouble coming for the rest of the Madoffs, $199 million worth. (USAToday) Speaking of Madoff, here’s regulatory reform expert Bill Singer on the continuing deficiency of oversight. (BrokeAndBroker) All hail REX, the King of Pipelines – bringing stimulus to a town near you. (WSJ) NYU: “What Recession?” (NYP) The death…
More Hot Links: World's Longest Bridge
More Hot Links for Weekend Reading… Legendary Las Vegas impresario Bob Stupak has passed. (WSJ) Is NBC really a core business for GE or is it, in fact, up for sale, along with CNBC? (ZeroHedge) Cool: The legendary trading culture of Susquehanna International. (InfectiousGreed) A behind the scenes look at Andrew Cuomo, the New York…
Kidz Korner: Why Come Cars Don't Take Natural Gas?
Kidz Korner is a feature here on The Reformed Broker where I explain complex financial issues to kids from the neighborhood in a simple, straightforward way. __________________________________________________________ Little Timmy Johnson: My mom was cursing under her breath the other day when she was filling up her car at the gas station, why was she so…
Hot Links: Monday Morning
Stuff I’m Reading this Morning… READ THIS FIRST: Marla Singer submitted this op-ed to the New York Times, which they probably will never run. (ZeroHedge) Americans are no longer the big spenders in this world. (SmartMoney) Fellow inmates say Bernie Madoff is dying of cancer in prison. (NYP) Steve Forbes has a new book out…
Natural Gas: The Washington Generals of the Commodities Market
Yesterday the price of natural gas dipped under $3 per thousand cubic feet, the lowest level for the commodity in 7 years. With spot crude roughly 100% higher than it’s ’09 low and in an environment where virtually every agricultural, industrial and precious commodity is showing gains for the year, nat gas stands alone as a major…
We're All Correlated Now
Lockstep Main Entry: lock·step Pronunciation: ˈläk-ˌstep Function: noun 1 : a mode of marching in step by a body of persons going one after another as closely as possible 2 : a standard method or procedure that is mindlessly adhered to or that minimizes individuality — in lockstep : in perfect or rigid often mindless…
Market Recap: Story Time
The Reformed Broker, here with today’s Market Recap… Quadruple Witching Options Expiration day…Yawn. Oil was lower and so, in our deflationary environment, so were most stocks. Techs looked weak all day off the Research In Motion (RIMM) results from last night. Thanks for reading this week, tune in tomorrow for Hot Links. Good night!
Droppin' Knowledge: Tudor Can't Forgive Himself
“If trading is like chess, then macro is like three-dimensional chess. It is just hard to find a great macro trader.” Paul Tudor Jones, May 2008 There’s a great interview up on Institutional Investor with Paul Tudor Jones, one of the biggest and most successful hedge fund managers in the business. It’s a bit dated (from…
Market Recap: Of Silver and Centipedes
[vodpod id=ExternalVideo.830915&w=425&h=350&fv=] The Reformed Broker, AKA Goldie Hawn here with today’s Market Recap… When they write the book on May of 2009, they won’t be talking about General Motors’ (GM) long-overdue bankruptcy, they’ll be talking about the raging, historic rally in commodities. Here’s a quick glimpse at this month’s Silver run (the biggest monthly percentage gain for…
