Thursday, June 18, 2009

US News, July 2009

FREE PDF download click here

Wall Street Journal June 18, 2009

FREE PDF download click here

Financial Sector: On the Mend or in the Mire?

06/18/09 Laguna Beach, California Today we examine a couple of recent stories from Fantasyland - otherwise known as Wall Street. Seven of America’s largest banks repaid their TARP borrowings to the US Treasury yesterday, in the process providing one more occasion for hopeful investors to proclaim the end of the credit crisis. The details of the repayments were as follows: (more)

Gasoline, Oil Strategies

Crude Oil

Given slack demand tied to the global recession, some have questioned whether recent gains in crude oil are indeed justified. I am one of the biggest commodity bulls out there (I had been recommending buying oil in January and February), but I do think crude oil is a bit toppy, and the charts are showing a potentially bearish crossover right now that could be indicating a near-term correction.

NYMEX July crude oil futures have been struggling to move above $70 a barrel, and I think a correction could take the market down to $65, the 200-day moving average, or lower, to the 50-day moving average at $61. I see that as a good value area to buy in line with a resumption of another leg up in July and August. (more)