Paper traded 5000 CLWR Nov 2.5 Calls for $0.30 (8.8 times usual volume) when stock was trading $2.28
Paper Bought 2150 VLO Mar 33 Calls for $1.01 (2.5 times usual volume) when stock was trading $28.89
Paper traded 10000 OSG Jan 4 Puts for $0.45 (22.5 times usual volume) when stock was trading $5.25
Paper Bought 16491 NRG Mar 25 Calls for $1.26 (3.4 times usual volume) when stock was trading $23.58
Paper Sold 6000 PCS Jan 10 Calls for $1.70 (3.6 times usual volume) when stock was trading $11.50
Copper prices start to fall as the construction season ends and typically remain on a downtrend through December. Silver on the other hand typically starts to rally in September as demand rises. Jewelers start to buy silver in preparation for the holiday season. Also, farmers in India are known to buy precious metals after their harvest which ends through september.
This year Soybeans and grains are very strong due to drought conditions across large parts of the United States. Historically, soybeans are in a weak period during September, reaching their seasonal lows in October when the harvest is over. Corn is typically in a downtrend, although a frost scare can cause price spikes.
Meat prices, such as live cattle tend to rise as the demand for cattle rises in the Fall. Typically people eat more meat as temperatures cool off. Government programs such as school lunches also increase demand as school is back in session.
In the past 12 years, the Euro has rallied 11 times from Labor Day through the end of the month. I am not sure if this year will go with the historical trend, however a Euro rally before the election could be expected. European uncertainties may become more apparent in the next few months during the U.S. election season.
David Cornes holds a degree in economics from the University of Montana.
South Africa accounts for 75% of the world’s platinum supply, with this standoff threatening 40% of the world’s production of the precious metal as workers are protesting wages.
As you can see from the chart below, the platinum/gold ratio is at a historical bottom. I would not hesitate to go long this ratio for various reasons, including platinum’s industrial applications. Platinum is a more rare metal than gold, and I think that it would be a quality investment as investors are flocking from fiat currency investments.
David Cornes holds a degree in economics from the University of Montana.
The Hang Seng underperformed today labeling itself as the worst performer in Asia as shares dropped
to their lowest in 3 weeks, losing 1.1%. Belle international, a Chinese footwear retailer was among those
dragging down the index, losing 4.6%, its worst in 7 months as the CEO said he expects pressure from
discounts of rival firms as they reduce inventory. Li Ning shed 4.3% ahead of earnings today, down 28%
this year. Oil giant CNOOC is down again today showing a 1.7% loss.
The FTSEurofirst is currently down .7% led by cyclical stocks and weak data from Japan exports. Miners
are down 1.7% hurt by poor results from global player BHP, who projects a 35% fall in second half
profits. Other cyclical stocks; autos and construction, fell 1% and 1.2% respectively. Banks are also down
0.6% today. Around Europe the Dax is -.72%, the CAC -.61% and the Madrid General -.83%.
MBA applications show worse this week down 7.4%.
Amazon launched the India Kindle store on its website, with over 1M titles offered in rupees.
In commodities crude is beginning down today while gold, silver and natural gas are looking to have big
gains.
Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market.
Comments can be directed to ryghcw19@uww.edu