November 2006 - Posts

• Oil Prices Rising?

  Tuesday, November 28, 2006 1:58 AM

  For a long time now oil has been range bound at the US$60 per barrel level. OPEC has already announced cuts and has said that more cuts are on the way, however traders have remained sceptical. Growing US stockpiles and a slowing US economy have also prevented oil from rallying Read More Posted by crazyjim 0 Comments Go to top

• Google Breaks 500

  Tuesday, November 21, 2006 8:57 PM

  When I first wrote about Google , the company had just posted their 3rd Quarter results and Google hit $459.97. I liked what I saw and posted my thoughts. Today Google broke past $500 and at the time of writing, Google is trading at $508.86, up 2.8% for the day Read More Posted by crazyjim 0 Comments Go to top

• Miners Continue To Consolidate

  Monday, November 20, 2006 9:56 PM

  The consolidation in the mining sector continues with news of Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) making a US$26 billion cash and stock bid for copper giant Phelps Dodge (NYSE: PD) . Phelps Dodge stock closed at US$120.47 which represents 26% increase to yesterdays close Read More Posted by crazyjim 0 Comments Go to top

• Oil Slides To US$56

  Thursday, November 16, 2006 9:21 PM

  The beginning of this article says it all. The price of oil sank by more than $2 a barrel Thursday, settling at its lowest level in a year as traders focused on the bearish aspects of conflicting market trends. OPEC is cutting output, but the U.S. economy is slowing; winter is near, but the country has an abundance of home heating fuels Read More Posted by crazyjim 0 Comments Go to top

• US CPI Down

  Thursday, November 16, 2006 8:58 PM

  Here's the latest CPI data from the US Bureau of Labor Statistics. CONSUMER PRICE INDEX: OCTOBER 2006 The Consumer Price Index for All Urban Consumers (CPI-U) decreased 0.5 percent in October, before seasonal adjustment, the Bureau of Labor Statistics of the U Read More Posted by crazyjim 0 Comments Go to top

• Declining PPI Sets Up Rate Cuts

  Tuesday, November 14, 2006 9:42 PM

  Just how much the US economy has slowed can be shown by today’s release of the Producer Price Index from the Bureau Of Labor Statistics . PPI numbers reached a peak growth rate of .9%(adjusted) back in April and those strong numbers were one of the factors that prompted the Federal Reserve to maintain its policy of interest rate rises Read More Posted by crazyjim 0 Comments Go to top

• Oil Range Bound

  Tuesday, November 14, 2006 5:12 AM

  Oil prices remain stuck in a trading range between US$62 and US$57.80. The recently announced production cuts of 1.2 million barrels per day by OPEC have done little to help prices higher. Here's an AFP article where Iran's envoy suggests that further cuts are on the way Read More Posted by crazyjim 0 Comments Go to top

• Teck Cominco Set For Zinc Highs

  Wednesday, November 08, 2006 11:48 PM

  Here's part of a Bloomberg story on zinc prices hitting new highs and forecast to go higher: ``Zinc looks as though it's running out,'' said Adam Rowley, London-based analyst in an interview yesterday in Mumbai. ``When a commodity runs the price can go anywhere as we have seen in copper and nickel Read More Posted by crazyjim 2 Comments Go to top

• Supply Constraints Return For Oil

  Friday, November 03, 2006 10:36 PM

  Those OPEC cuts in October didn’t give oil prices the boost that I was expecting. Traders weren’t convinced about OPEC members having the stomach or resolve to carry out the promised cuts. Oil had a solid jump on NYMEX to be above US$59 today and the main reason was a possible rebel attack on production facilities in Nigeria Read More Posted by crazyjim 0 Comments Go to top

• Uranium Is Hot

  Thursday, November 02, 2006 3:15 AM

  According to UXC the spot price of uranium is at US$60 per pound. With uranium supplied from weapons depletion programs drying up and the recent setback at Cameco's Cigar Lake, ongoing supply constraints are set to continue, while demand grows. That's the basic scenario that is behind uranium Read More Posted by crazyjim 0 Comments Go to top

• Oil Below US$60

  Thursday, November 02, 2006 1:23 AM

  If you have invested in oil or biofuel stocks then you probably won't be too happy about the oil price falling back below US$60. Events having an adverse effect on the oil price include a lower than expected US GDP of 1.6%, traders still being unconvinced about OPEC's ability to carry out its promised production cuts , and healthy US stockpiles Read More Posted by crazyjim 0 Comments Go to top

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