Thursday, May 29, 2008

shipping a standard 40-foot container from Shanghai to the east coast of North America now costs $8,000 (U.S.), up from $3,000 in 2000 when oil was just $20 a barrel

Two bank economists argue in a report released Tuesday that because of higher fuel costs, shipping a standard 40-foot container from Shanghai to the east coast of North America now costs $8,000 (U.S.), up from $3,000 in 2000 when oil was just $20 a barrel."... http://crudeawakeningaustin.blogspot.com/2008/05/from-reportonbusiness.html

Tuesday, May 27, 2008

U.S. home prices dropped at the sharpest rate in two decades during the first quarter

PRICES DROP MOST IN 20 YEARS
NEW YORK - U.S. home prices dropped at the sharpest rate in two decades during the first quarter, a closely watched index showed Tuesday, a somber indication that the housing slump continues to deepen.

Friday, May 23, 2008

Blame Wall Street for $135 Oil on Wrong-Way Betting

http://www.bloomberg.com/apps/news?pid=20601109&sid=aNpbEqWbUwok&refer=home
May 22 (Bloomberg) -- Oil's rally to a record above $135 a barrel came as traders bought crude to cover wrong-way bets that prices would decline, according to data from the New York Mercantile Exchange.

The number of outstanding futures contracts, known as open interest, fell 8.1 percent in a week to 1.36 million at the same time that prices rose 2.6 percent, the data show. Falling open interest and rising prices are signs that traders are buying to exit so-called short positions that would profit if oil fell, and lose money as they rose.

Thursday, May 22, 2008

Expert Advisors Based on Popular Trading Systems and Alchemy of Trading Robot Optimization

"Expert Advisors Based on Popular Trading Systems and Alchemy of Trading Robot Optimization"

http://articles.mql4.com/618

This article dwells on implementation algorithm of simplest trading systems. The article will be useful for beginning traders and EA writers.

Friday, May 16, 2008

Oil spikes to all time high 128

http://biz.yahoo.com/ap/080516/oil_prices.html?.v=13
NEW YORK (AP) -- Oil prices surged more than $3 Friday, shattering a previous record in a spike near $128 a barrel, as prices at the pump pushed to new highs of their own. The gains come 10 days before the Memorial Day holiday, the traditional start of the peak U.S. summer driving season, suggesting that retail gas prices have further to rise.

Bush in Saudi Arabia...

King sees no reason to raise oil production...

China hacks US with US technology copy, Cisco routers

http://www.worldtribune.com/worldtribune/WTARC/2008/ea_china0141_05_15.asp China hacks US networks with Cisco copies Made In China

PALM BEACH ESTATE SELLS FOR $100 MILLION; FOREIGN BUYER...

Philly's $100 cheesesteak...

Wednesday, May 14, 2008

China Construction companies receive boost from earthquake

http://www.forbes.com/afxnewslimited/feeds/afx/2008/05/14/afx5006501.html BEIJING (XFN-ASIA) - China A-shares closed higher, with nonferrous metals and cement companies leading the gains on expectations of higher demand after Monday's Sichuan earthquake, dealers said.

A significant rebound by banks also helped to boost the market.

The benchmark Shanghai Composite Index closed up 97.19 points or 2.73 pct at 3,657.43.

Turnover fell to 122.32 bln yuan from 122.66 bln in the previous session.

'The earthquake did not change the uptrend of the market, which received sustained support from regulators,' said Jin Hongming, an analyst at Guotai Junan Securities.

'More new stock funds are also entering the market, and fund managers generally favor large caps like banks,' Jin added.

Inflation eases as food prices soar

FEEL NO PAIN: INFLATION 'EASES' AS FOOD PRICES JUMP MOST IN 18 YEARS...

Monday, May 12, 2008

Friday, May 9, 2008

Oil breaks 126 all time high

  • Crude oil hits all-time high $126.20/barrel May 9 on dollar weakness, geopolitical concerns about Nigeria and Venezuela, and hedging against credit crisis
  • New record obliterates not only nominal high but inflation-adjusted high of $100-111/b reached in 1981 (when Iran cut exports)
  • Since 2001, dollar price of oil and gold moved in tandem, rising >267% and >239% respectively
  • Verleger: Price rise due to US adding sweet crude to Strategic Petroleum Reserve and related option hedging
  • Spiegel: Thanks to fuel subsidies, real price not high enough to cut demand
  • Upside risks: low inventories, higher cost of production (due to labor shortages, credit crisis, extraction of unconventional sources), growing demand supported by fuel subsidies, $ weakness, speculation, hedging
  • Spike risks: weather, geopolitics
  • Downside risks: recession bets, end of refinery maintenance, increased non-OPEC supply and refinery capacity, lower demand in spring
  • Consensus estimate for average WTI price in 2008 raised from $76/b to $87/b (UniCredit $100; BNP $89; Danske $83.5; Standard Chartered Bank $82; Natixis $67.7; Barclays $97.70)
  • NYMEX futures predict oil prices to remain above $100/barrel in 2008

"The politicians' response should be, 'Get used to it,'" said Novogratz of the emerging energy crisis now fuelled by rising oil costs. He was particularly scathing of Hillary Clinton's gas tax holiday, which he called "the stupidest idea I ever heard."... http://blog.wired.com/wiredscience/2008/05/only-greentech.html

Friday, May 2, 2008

Salmon fishing banned on West Coast

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/05/02/BABT10F7PE.DTL&tsp=1 Salmon fishing was banned along the West Coast for the first time in 160 years Thursday, a decision that is expected to have a devastating economic impact on fishermen, dozens of businesses, tourism and boating.

Thursday, May 1, 2008

Gold 850 – Mobius sees commodity boom continuing

http://www.zealllc.com/2008/glogold4.htm

http://www.breitbart.com/article.php?id=080430191254.lghbtwt2&show_article=1 Three Chinese banks in world's top four: study

Recent gold headlines from Kitco…