CL Redux

Quote from InvestVision:

Here is the performance of one Hedgie we are competing with on daily basis
we should advise these fund clients to see our EON KID for their potifolio management :p

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http://www.marketwatch.com/story/gold-oil-can-gain-as-unrest-eases-brynjolfsson-2011-03-31

Brynjolfsson’s top fund, commanding 2% in management fees and 20% in performance fees with a minimum investment of $1 million, amassed gains of 5.4% in 2009 and 5.4% last year. So far this year, it has lost 0.4%, according to the firm.

His funds invest mainly in commodities, bonds including Treasurys and inflation-linked bonds from various countries, and emerging-market equities, bonds, and currencies.
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My dart throwing monkey is achieving better returns, she specializes in commodities and commodity currencies :D

Monkey-throwing-darts.jpg
 
The rally came as the dollar slumped 0.4% against the euro on speculation the European Central Bank is poised to raise interest rates to ward off rising inflation.

"Right now the market is focused on the idea that a rate increase in Europe is imminent," said Phil Flynn, senior market analyst at PFG Best. "The weaker dollar is bullish for commodities, and that's what really gave us the boost."

Crude oil, which is priced in the U.S. currency, often rises when the dollar declines. A weaker greenback makes oil a more attractive investment for buyers in other currencies.


Quote from InvestVision:

Any news event you guys seen for spike or just random event

1) One is today is Q1 end as stated in Reuters post , other japan potential 200,000 oil usage increase forecast

2) on bullish side I would add: US driving season coming with summer vacation soon ( Refinaries need to load up crude few months before ) , this bullish item was mentioned by JP Morgan analyst few days ago

Any news on unrest related Saudi , Siria etc. Which is bullish ???

3) I posted earlier libyan news which is bearish item ( kusa flee to uk , he has ton of info on gaddafi inner workings to reveal to coalition in return for exemption of his own trail )


If no news item I would assume spike reasons 1) and 2)
OR
Hedgies are tired of this 103.50 , 105+ range of last couple sessions , they want change :p
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Quote from bighog:

anyone trying to put rhyme or reason on the next dollar move for CL either up or down should not answer the door if the bell rings. They are coming to take you away to the looney bin.

Except TA daytraders, we are far better than fundamental guesses because we have something concrete to hang our hat on.

Even numbers and 1/2 a buck numbers are crunch points for many in CL.......... 10600 10550 etc
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a dollar down would be a gift to swing long
 
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