Market Summary: September 12, 2021

Sep 13, 2021

In the week following the worst hurricane in the US Gulf Coast in the last 16 years, Crude and product market prices are conspicuously void of trends. The bullish effect of the loss of approximately 21 MB of Crude production due to Hurricane Ida... more

Notes From Underground: Will It Be An Inflated Jobs Report?

Sep 09, 2021

After FEDERAL RESERVE Chairman Jerome Powell’s Jackson Hole speech, the jobs data may have taken on added significance. Inflation was not a concern for Powell as that is considered transitory within the bowels of the FOMC. The failure of the... more

Market Summary: September 5, 2021

Sep 07, 2021

Hurricane Ida, a category four storm with winds exceeding 145 MPH, made landfall last Sunday in eastern Louisiana. Most US Gulf oil production, Natural Gas production and more than 2.3 MBPD of refining capacity were affected. Slow recovery of... more

The Roundtable Insight – Harley Bassman, Brian Pellegrini and Yra Harris on the Economy and the Financial Markets

Sep 01, 2021

Harley Bassman, Brian Pellegrini and Yra Harris on the Economy and the Financial Markets

Mr. Bassman is a Managing Partner at Simplify Asset Management, a designer and manager of ETFs that offer better portfolio solutions for... more

A Golden Coma

Sep 01, 2021

After soaring to an all-time peak in August 2020 in US dollar terms, gold has traded on either side of $1800 per ounce throughout 2021. The yellow precious metal reached a record level in nearly all currencies in 2019 and 2020. Gold was the first... more

Notes From Underground: Powell’s Pathetic Political Posturing

Aug 30, 2021

First of all, my offer of any part of a $10,000 bet with 10-1 odds against Jerome Powell being renominated as FED CHAIR is OFFICIALLY RESCINDED. The Fed Chair’s speech was so pathetic that it can only be explained by his desire to be renamed... more

Market Summary: August 29, 2021

Aug 30, 2021

In a stunning reversal, petroleum prices recovered all of last week's price plunge plus an additional 2 to 3%. Diminishing COVID-19 concerns and clear signs of recovering demand from the US, China and India, further aided by a weakening dollar,... more

Notes From Underground: For What It’s Worth

Aug 26, 2021

There is a wonderful song from the tumultuous 1960s by the band Buffalo Springfield that is so apropos for the financial markets over the last two weeks (staying away from Kabul). The lyrics for the first two verses describe the situation for... more

The One, Two, Three of Support and Resistance

Aug 23, 2021

I love creating sayings that drive home truths in technical analysis. One of my favorites has always been:

“First test good,

second okay,

third go the other way.”

So, what does it means? It means that the first test... more

Market Summary: August 22, 2021

Aug 23, 2021

Petroleum prices plunged more than 8% this week, their largest weekly loss in more than nine months. Prices have fallen for seven consecutive days and are at their lowest level since May 20th. The last time WTI fell for seven consecutive trading... more