WTI-Brent premium back to over $18 per barrel. The WTI Cushing discount to Brent remained at historically elevated levels of about $20/barrel in early April but, as the month progressed, it narrowed noticeably. At the end of April the discount was $14.8/barrel and for the month averaged $17.2/barrel, against $18.4/barrel in March. The pronounced narrowing of the WTI…
Man group looks to be opening up around 6% this morning on a set of interim results that allay the worst fears over funds under management. Below are the highlights – Funds under management (FUM) at 30 June 2012 of $52.7 billion (31 December 2011: $58.4 billion), reflecting sales of $7.2 billion, redemptions of $9.6…
FTSE 100, Daily, Candle Last week we felt that the FTSE was looking set to find support from the lower end of the trading range, red region, so the price action had been broadly in line, that was until today. Today we can see that once the market was called to open lower, on renewed…
Given the events of today in European markets and the continuing worries in both Greece and Spain, we recommend that readers take a look at page 62 of our latest edition (Link – http://issuu.com/spreadbetmagazine/docs/spreadbet-magazine-v7_generic) in which we explore potential scenarios in a break up and how you can position yourself for these potential outcomes… Remember,…
Markets were in full sell-off mode today on Eurozone concerns although the Ibex did make sparkling recovery as the dat wore on even in the face of sharply rising Spanish debt yields as investors begin to anticipate the possibility of a full bailout for the country. In the early part of last week optimism was…
UPDATE – Long trade closed @ 6190 for a nice 287pts. We have added to our Trading Buy recommendations with a long position in anticipation of a corrective bounce from these levels in the Spanish Ibex Index @ 5903 – we have dropped almost 20% in a shade over 2 weeks and 10% in 3…
As with our recent Trading Buy calls, we simply think Lonmins valuation is at a 10 year trough, the stocks excessively oversold and is ripe for a takeout. Below is the 10 day chart – regular readers will note a familiar pattern here that sets itself up for a nice swing buy trade. Long @…
Below is another diagram of the AAII Investor Sentiment index (American Association of Individual Investors) and which reflects very bearish sentiment this week – just 22% bulls v 42% bears. The ratio of bears to bulls is 0.53. These are levels typically seen at market bottoms, not during price advances. Looking at the chart we can…
Currency trends otell us something about the mood of global traders, and which way they’re starting to lean. In the ongoing battle between “risk-on” and “risk-off” trades, one of the markets worth keeping an eye on is the Australian Dollar. For a number of reasons, global traders buy the Aussie when they’re turning more optimistic…
The FTSE is down almost 100 pts at 5562 at 8:45am and European markets similarly sharply lower with the Spanish IBEX index down over 3% (200 pts) and plumbing the recent 8 year lows towards the key 6000 level as worries over GreecE again resurface and the Euro looks to test the psychologically important 1.20…
