Currently viewing the tag: "Dry Heat"

Cash/Futures. DRY HEAT Report 3/2/15

On March 2, 2015 - 7:30 AM By

A man from Orange County called after my last letter and questioned where I got my information regarding the pay levels of West Coast longshoremen. He felt his union was being portrayed unfairly, and it was the “owners” who were causing the delays in offloading. He disputed that he made as much as $200,000/yr.as a [...]

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Poor stevedores. DRY HEAT Report 2/9/15

On February 9, 2015 - 7:39 AM By

Written 2/7/15 | It has been about 5 months since the International Longshoreman and Warehouse Union (ILWU) told crews on the West Coast of the US to “work safe” and a work slow-down began at 29 West Coast ports. Those ports handle 43.5% of containerized cargo shipments from the US. They are the entry and [...]

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Gas Wars. DRY HEAT Report 1/12/15

On January 12, 2015 - 7:48 AM By

Last week I mentioned, in my General Comments, that I thought of crude oil as a bellwether for most commodities. There are different opinions about the effects of the 50+% decline in the price of crude. One argument is that it will save the average consumer money to be spent on other items, thereby friendly. [...]

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Bellwether. DRY HEAT Report 1/5/15

On January 5, 2015 - 8:26 AM By

Recently the stock market did something it hadn’t done since 2008. It traded down on the last trading day of 2014 and down again on the first trading day of 2015. I can’t say that it portends anything in particular for the rest of the new year, but I would bet we will see more [...]

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Derivatives Dance. DRY HEAT Report 12/15/14

On December 15, 2014 - 8:06 AM By

Over the weekend I had a lot of calls from friends who are both Democrat and Republican. They couldn’t believe that there was a bipartisan agreement to “adjust” the Dodd-Frank legislation that would allow loosing derivatives positions, of the big bank’s bets, to be guaranteed by the taxpayers. A prominent Democrat congresswoman spoke out against [...]

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Energy Deflation. DRY HEAT Report 12/8/14

On December 8, 2014 - 7:31 AM By

There is no doubt that the world economy is slowing down. Germany and France are stalling, while Japan, Italy, Greece and Spain are in recession. China, the world’s new #1 economy is slowing down. Here in the U.S., BLS statistics show our economy growing at 4% for two straight quarters, though the jobs created are [...]

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Turkey week. DRY HEAT Report 11/24/14

On November 24, 2014 - 7:53 AM By

A short Thanksgiving week. No trading Thursday and most markets close at 12:00 – 12:45pm on Friday. I hope you all have a great Thanksgiving. Now the markets; Gold & Silver: Gold and silver still appear to be correcting. The biggest event on the horizon is the Swiss vote, on November 30th, that would require [...]

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This last Friday, the Department of Agriculture announced the approval for planting of a new genetically modified potato, the Innate Potato. It was developed by the J.R. Simplot Company of Boise, Idaho. J.R. Simplot, the company founder, was known as the Potato King when I first became involved in the commodity markets. His company was [...]

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General Comment: I recently read a piece by Dr. Kent Moors about the cut in oil prices by the Saudis being the biggest economic threat to Russia. Traditionally, Asian buyers of Saudi crude pay a premium which makes it a higher price than Europe or North America pays. Russia began to compete in the fast [...]

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Janet Yellen, current head duck at the Fed, spoke up today at a conference on “Economic Inequality” at the Boston branch of the central bank. She’s concerned about rising economic inequality in the United States. I am concerned too, that I am not in the top 1%. To be fair, Janet Yellen has accepted a [...]

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Dollar Signs. DRY HEAT Report 10/6/14

On October 6, 2014 - 7:15 AM By

General Comment: The US dollar index gained about 8.5% between the market close on the week of 5/9/14 until Friday’s close of 86.823. That’s the highest it has been in over four years. Many of the companies that make up the S&P 500 rely on overseas sales for up to half of their revenue. European [...]

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The Metals Melt Down. DRY HEAT Report 9/22/14

On September 22, 2014 - 7:30 AM By

Writing this market letter late Sunday evening I am struck by the realization that anyone who bought silver, even at the lows of the last four years, a loser on the trade. Gold has lost but has held up better than silver. If you bought either metal between early 2010 and midyear 2013, and you [...]

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