Two Commodity ETFs to Buy

Dan Dicker is watching commodities for how to buy equities and is looking at two ETFs as a way to take advantage of.



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Phil Flynn: The Commodities Got It In All Directions

Crude oil bulls got slapped everywhere they looked as a rate hike in Europe, weak manufacturing data in the US and growing concerns about Ireland's debt problems slammed commodities across the board. Perhaps the Fed knew that things are not that rosy and they were right to print all of that money.

Now with inflation running wild in China, the market knows that the Chinese are going to have to tap on the breaks, striking a major blow to global oil demand expectations. Over the longer term this is another critical time in this oil market when the price failed to capitalize and follow through on a breakout to new highs. Just 5 days ago oil hit a new 2 year high bring out a chorus of $100 a barrel predictions that many said that we would see by the end of the year.

These calls seem to me to be the same predictions we heard in the beginning of the year as oil hit 8395, a post economic crisis at least until the Dubai crisis sent oil price hurling back down to below $70.00. Then a UAE 10 billion dollar rescue plan and all was well in the oil market. Oil surged and hit a new high of 8715 in May and the $100 a barrel predictions were heard quite loudly.

That was before the Greece debt crisis which brought oil back down to 6424. Then of course it was the EU to the rescue with a massive bailout package and oil recovered slowly back to the eighties before settling back into the low......Read the entire article.

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What is the Best Selling Renewable Energy Book on Amazon?

What is the best selling renewable energy book on Amazon? It's "Renewable Energy - Facts and Fantasies" by Craig Shields.

"Our civilization's ever increasing hunger for energy and its fixation on fossil fuels to provide that energy is in the process of imploding on itself as our population grows and its demographics change. Yet we live in a world of tough realities, where an elegant solution simply does not exist." Craig Shields provides a broad survey of the subject, presenting 25 interviews with the widest possible variety of subject matter specialists, each chosen to provide the reader with an accessible and fair minded treatment of a particular issue. The technology, the economics, and the politics of renewables form a fantastically complicated calculus that needs to be thoroughly understood if we are to have relevant, informed discussions on this subject the most important challenge in the history of mankind, the migration to clean and sustainable energy sources.



Just click here to get your copy of "Renewable Energy - Facts and Fantasies"


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Crude Oil Daily Technical Outlook Wednesday Morning Nov. 17th

Crude oil was lower overnight as it extends the decline off last week's high. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near term.

If December extends the aforementioned decline, the 50% retracement level of the August-November rally crossing at 80.49 is the next downside target. Closes above the 10 day moving average crossing at 85.64 would confirm that a short term low has been posted.

First resistance is the 20 day moving average crossing at 84.04
Second resistance is the 10 day moving average crossing at 85.64

Crude oil pivot point for Wednesday morning is 83.04

First support is the overnight low crossing at 81.18
Second support is the 50% retracement level of the August-November rally crossing at 80.49


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Commodity Corner: Crude Oil Falls 3%

A stronger dollar, coupled with fears of slower economic growth in Asia, contributed to a three percent drop in December oil futures Tuesday.

Crude oil settled at $82.34 a barrel, compared to $84.86 on Monday, as the euro weakened amid reports that the European Union seeks to counter Ireland's debt problems with a bailout. Bailing out Ireland, which is struggling with the burden of having nationalized three banks to cope with its real estate bust, could create new problems for large banks and have a chilling effect on lending elsewhere in the EU.

In Asia, efforts to curb the rate of inflation stoked concerns that oil demand will soften. South Korea's central bank has boosted interest rates to combat inflation, and China is expected to implement its own monetary policy tightening measures.

Crude oil peaked at $84.74 and bottomed out at $82.26.

Natural gas for December delivery also slumped Tuesday, settling roughly 2.5 cents lower at $3.82 per thousand cubic feet. According to the National Oceanic and Atmospheric Administration (NOAA), temperatures throughout the Northeast and Midwest should not be colder than normal through next week. As a result, demand for natural gas fired electricity is expected to remain at normal levels during the period.

The price of front month natural gas fluctuated from $3.78 to $3.92.

December gasoline also lost ground Tuesday, settling 3.5 cents lower to $2.16 a gallon. It traded from $2.14 to $2.20.

Posted courtesy of Rigzone.Com

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Sharon Epperson: Where is Crude Oil and Gold Headed on Wednesday?

CNBC's Sharon Epperson discusses the day's activity in the commodities markets, and looks ahead to where oil and gold are likely headed tomorrow.


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Stock Market and Commodities Commentary For Tuesday Evening Nov. 16th

The S&P 500 index closed sharply lower on Tuesday and below the 20 day moving average crossing at 1193.63 confirming that a short term top has been posted. The low range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near term. If December extends the decline off last week's high, the 25% retracement level of the July-November rally crossing at 1169.37 is the next downside target. Closes above the 10 day moving average crossing at 1206.09 would temper the near term bearish outlook. First resistance is the 10 day moving average crossing at 1206.09. Second resistance is last Tuesday's high crossing at 1224.50. First support is today's low crossing at 1175.20. Second support is the 25% retracement level of the July-November rally crossing at 1169.37.

Crude oil closed sharply lower on Tuesday and below the 20 day moving average crossing at 84.09 confirming that a short term top has been posted. The low range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near term. If December extends the decline off last week's high, the 50% retracement level of the August-November rally crossing at 80.49 is the next downside target. Closes above the 10 day moving average crossing at 85.94 are needed to confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at 85.94. Second resistance is last Thursday's high crossing at 88.63. First support is today's low crossing at 82.23. Second support is the 50% retracement level of the August-November rally crossing at 80.49.

Natural gas closed lower on Tuesday and is poised to extend last week's decline. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term. Closes below the reaction low crossing at 3.743 are needed to confirm that a short term top has been posted. If December renews the rally off October's low, the 38% retracement level of the June-October decline crossing at 4.362 is the next upside target. First resistance is last Wednesday's high crossing at 4.249. Second resistance is the 38% retracement level of the June-October decline crossing at 4.362. First support is Monday's low crossing at 3.710. Second support is the reaction low crossing at 3.500.

The U.S. Dollar closed higher on Tuesday as it extends this month's rally. The high range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are overbought but remain bullish signaling that sideways to higher prices are possible near term. If December extends this month's rally, the 38% retracement level of this year's decline crossing at 80.54 is the next upside target. Closes below the 20 day moving average crossing at 77.60 are needed to confirm that a short term top has been posted. First resistance is today's high crossing at 79.59. Second resistance is the 38% retracement level of this year's decline crossing at 80.54. First support is the 20 day moving average crossing at 77.60. Second support is this month's low crossing at 75.24.

Gold closed sharply lower on Tuesday and below the 20 day moving average crossing at 1360.40 confirming that an important top has been posted. The low range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI remain bearish signaling that sideways to lower prices is possible near term. If December extends the decline off last week's high, the reaction low crossing at 1315.60 is the next downside target. Closes above the 10 day moving average crossing at 1380.60 would temper the near term bearish outlook. First resistance is the 10 day moving average crossing at 1380.60. Second resistance is last Tuesday's high crossing at 1424.30. First support is today's low crossing at 1329.00. Second support is the reaction low crossing at 1315.60.


Watch > What a Difference a Week Makes....Is It All Over For Gold?

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Adam Hewison: Try it … You’ll like it

From guest blogger Adam Hewison....

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Once you are a member, I have no doubt that you will appreciate exactly how powerful and easy MarketClub is to use.

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President of INO.com
Co-founder of MarketClub


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Bloomberg Analysis: Crude Oil May Plunge as Prices Diverge From Strength Index

Crude oil may plunge below $80 a barrel in New York as the failure of its relative strength index to keep pace with price gains signals that this month’s rally is over, according to technical analysis by Commerzbank AG. Futures surged to a two-year high of $88.63 a barrel on the New York Mercantile Exchange on Nov. 11. On that day, oil’s 14 day RSI, a measure of how rapidly prices rise or fall in that period, failed to surpass a nine month peak reached in October. That indicates the gains have run their course and a downward correction may be imminent, Commerzbank said.

“This suggests a loss of upside momentum,” London based analyst Karen Anne Jones said in an interview. Oil, which traded for $83.47 at 14:19 p.m. London time, earlier today broke a trend line that has supported prices since September at $83.88, and is set to plummet, Jones said. The 14 day RSI was at 50.8.

“The market is sitting today on the two month uptrend, and this is now exposed,” she said. “Failure looks likely and will spell a deeper retracement.” Once crude drops below $83.88 it will be drawn toward a range of $78.50 to $79.31 within three weeks, according to Commerzbank. This price band combines a threshold from the Fibonacci sequence of numbers, with the convergence point of two moving averages.

A move to the $78.50-$79.31 area would complete a 38.2 percent reversal of oil’s advance since May, Jones said. The significance of a 38.2 percent movement derives from the Fibonacci sequence, used by traders to predict points of resistance and support as markets repeat earlier moves. This region is also where crude’s 100 day and 200 day averages cross. The 100 day and 200 day rolling mean are both at $78.57 a barrel.

Bloomberg reporter Grant Smith can be contacted at gsmith52@bloomberg.net

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Phil Flynn: QE2 Or Not To QE2 That Is The Question

While the Fed printing presses continue to roll interest rate worries are seemingly dominating the direction of the oil market. While the Federal Reserves prints more money rates continue to raise giving surprising strength to the dollar and putting downward pressure on oil. The Chinese stock market got hammered overnight after The Bank of Korea worried about inflation raided their base interest rate by a quarter points to 2.50%. The move means that more than likely China will not be too far behind as countries across Asia are reacting to a major onslaught of inflationary pressures.

In the mean time the markets are focused on the problems in Europe. EU members want Ireland to take their money as they fear that Irelands debt problems could spread to other countries. Ireland ion the other hand says that they are fine and is telling the EU that they do not need their help. Yet the EU feels that the fallout from Ireland’s debt could drive up borrowing costs in other PIIG countries especially Portugal, Italy and Spain. The EU is saying please take the money. Of course all of this global intrigue is impacting the......Read the entire article.

Watch > What a Difference a Week Makes....Is It All Over For Gold?

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