The froth seems to have come out of the natural gas market now that the futures have fallen over 30% since hitting new highs earlier this week. Yesterday, natural gas was down just 0.9% (compared to the multiple 10%+ moves the market has seen this month). Yesterday was inventory day, and the EIA reported that […]
Sevens Report 2.28.14
Russian Market In Downtrend Long Before Debacle in Ukraine
Sevens Report 2.27.14
Sevens Report 2.26.14
This chart, courtesy of my anarchistic friends at ZeroHedge, shows that speculative net longs are negative in S&P 500 futures, proving just how skeptical investors are of this rally.
Sevens Report 2.25.14
Last Week
Once again, last week was not a particularly good week for economic data. Starting with the manufacturing sector, data here in the U.S. was mixed. The Empire State and Philly Fed manufacturing indices both badly missed expectations, with the Empire State falling to 4.4 vs. (E) 8.5 and Philly plunging to -6.3 vs. (E) of 8.0. But, refuting the weak readings was the national flash February manufacturing PMI, which rose to a multi-year high at 56.7.
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Sevens Report 2.24.14
Sevens Report 2.21.14