| London robusta coffee hits 9-year high
London robusta coffee futures hit a nine-and-a-half-year high and cocoa reached a four-year peak on Friday on a wave of enthusiasm among investment funds for all sorts of commodities. Reallocation of investments for the New Year has already seen several basic resource prices, including gold and oil, hit record highs this month and soft commodities such as coffee and cocoa have been tipped as a good bet for the year ahead. "Funds are increasing their holding in both commodities at the moment. It is not an overnight thing, I think it has been building for some time," soft commodities trader Jeff Cooper of Ambrian Commodities said. .
Meeting demand for oil-pricing answers
Stephen Schork, a former New York commodities trader who lives in Villanova, is attracting a lot of attention with his three-year-old newsletter that analyzes the wild changes in oil prices. Only about 100 people have agreed to pay the upwards of $10,500 that he charges for a one-year subscription. He shows up regularly in newspapers and on national television as reporters seek help in making sense of this crucial and volatile commodity market. This exposure during the year when crude oil prices nearly doubled has produced "a ton of people on trial subscriptions," he said. Schork, 41, caught a wave when the collapse of Enron and other factors came together to drastically change the oil markets. In addition to supply-and-demand and what OPEC is thinking, people with oil-centered lives now "have to worry about what some 28-year-old hedge fund manager in Manhattan, with billions of dollars of other people's money, will do next," Schork said over coffee at the MilkBoy Cafe in Ardmore.
Cop Search for Jersey Man Who Disappeared in Colorado Blizzard After ...
Colorado police are searching for a 23-year-old New Jersey man who vanished during a blizzard after downing at least 20 drinks at a bar in Breckenridge, a small ski resort town. Alphonse Michael Barbiere, a Wall Street commodities trader, stumbled out of the bar at 1:30 a.m. Friday with a friend, according to The Denver Post. When the friend lit a cigarette, Barbiere started walking down the street — in the opposite direction of the condo his family and friends were renting, the newspaper reported. "He didn't say anything to anybody about where he was going," Breckenridge Assistant Police Chief Greg Morrison told the newspaper. Police want to question three unidentified friends who were snapped in photos with Barbiere several hours before he disappeared, The Denver Post reported.
Xstrata spurns Vale approach
Xstrata has rejected an informal cash and share takeover approach from Brazilian mining group Vale pitched at just under £40 a share or $76bn (£38.9bn) for its entire equity. Xstrata and Glencore, the Swiss commodities trader that owns 35 per cent of the Anglo-Swiss mining group, dismissed the offer and are holding out for a price equivalent to about £45 a share, according to people close to the deal. .
Using CCI and Stochastics For Long and Short Term Forex Trading
Sam Seiden brings over 15 years experience of equities and futures trading which began when he was on the floor of the Chicago Mercantile Exchange. He has traded equities, futures, interest rate markets, forex, options, and commodities for his personal interests for years and has educated hundreds of traders and investors through seminars and daily advisory services both domestically and internationally.
Sam has been involved in the markets since 1991 both on and off the floor of the Chicago Mercantile Exchange. He has served as the Director of Technical Research for two trading firms and regularly contributes articles to industry publications. Sam is known for his trading, technical research, and educational guidance. Software instructions HotComm is the multimedia communication tool we will be using to host our New Live Market and Education Sessions.
London shares down midmorning; housebuilder weakness helps offset ...
LONDON, Feb. 11, 2008 (Thomson Financial delivered by Newstex) -- UK blue-chips slipped lower midmorning after comments from the G7 summit about the global economic outlook reignited investor fears, and with weakness among the housebuilders helping to offset strength in the commodities sectors. At 10.07 am, the FTSE 100 index was 15.7 points weaker at 5,768.3, albeit off the early morning low of 5,732.4, while the FTSE 250 slipped 36.7 points lower to 9,770.8. Volume was average, with 182.6 mln shares having changed hands in 56,929 deals. Over the weekend the Group of Seven (G7) finance chiefs conceded that global economic prospects have deteriorated since they last met in October and that they stand ready to take collective and individual action to boost prospects. 'The G7 comments are weighing on the market this morning,' one senior trader said.
Oil price strikes record $US90
CRUDE oil prices struck a record $US90 a barrel in after-hours trading in New York overnight, amid increased tensions between Turkey's government and Kurdish rebels in northern Iraq. Traders said a weak US dollar and supply jitters had also stoked the price surge. The price gains came after New York's main oil futures contract, light sweet crude for delivery in November, had jumped $US2.07 to a record close of $US89.47 a barrel. London prices also pushed higher in after-hours trading, as Brent North Sea crude for December delivery soared to $US84.88 after the contract had earlier settled $US1.47 higher at $US84.60. Oil prices have pushed higher this week amid geopolitical angst related to the Turkey-Iraq border and a weakening dollar, which makes dollar-priced commodities such as oil cheaper for buyers with stronger currencies and therefore lifts crude demand.
MIdget Eagles shine at scholarship tournament
Five members of the Squamish Eagles Midget hockey club did not disappoint after being chosen to represent the Greater Vancouver Canucks in an annual scholarship tournament on Saturday (Jan. 26). The Midgets joined forces with regional rivals to form the team and win the 31st annual Pacific Coast Amateur Hockey Association Midget Scholarship Tournament. The tournament is meant to promote and reward scholastic achievement and sportsmanship, and one player from each team was chosen for a $500 Vancouver Canucks Special Bursary Award. Goalie Brett Miller, forwards Oliver McQuaid and Keegan Moore, and defencemen Dylan Ackerman and Jesse Anderson represented the Squamish Eagles, which contributed more players than any other team. With their stellar play, the Canucks won the Fred "Cyclone" Taylor Memorial Cup for the first time since 1999.
|
