Posts Tagged 'USO'

Oil in Big Macs: Chart of the Day

Source: Gregor.us

The idea for this comparison of Oil to Big Macs, is that a Big Mac is representative of a basket of agricultural goods and thus compares the relative advantage of trading food for oil.  Whats interesting about this is that theoretically, it should be a somewhat inflation-adjusted measure of oil prices.  As of now it appears agricultural goods is undervalued relative to Oil. 

Interesting to see how the plays out in a pairs trade?

Short Oil (USO  United States Oil Fund LP)

Long Agriculture (RJA  ELEMENTS – Rogers International Commodity Index Agriculture Total Return)

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The Big Energy Trade: The WidowMaker

A bold trade is unfolding in the energy markets, dubbed the “Widowmaker.”  Traders play the spread between gasoline and heating oil, as seasonal demand shifts with the warming weather in the Northern Hermisphere.  There seems to be larger bets on the market this year, as hot money is entering the trade.  The trade is known as the “widowmaker” because of its volatile and unpredictable nature.  However, traders are making larger speculative bets in gasoline after an unusuasly cold winter and an expected sharp increase in gasoline demand this summer.

From Reuters:

“The hot money is on gasoline this season and a lot of hedge funds have bet on it,” said an oil products trader at a bank and a regular widowmaker trader. “Seasonality is back because of run cuts and because it’s been such a cold winter. There is a belief that demand for gasoline will be very good this year because it is not as connected to the recession as distillates,” the trader said

The risk of course, is that gas prices stay below heating oil, like in 2008 when record high oil prices slashed demand for motor fuel. The Chart belw shows a shap spike in the spread in the summer of 2005, 2006, but a huge fall in 2008.

Gasoline vs. Heating Oil Spread

Source: Hard Asset Investor

 

WaysToPlay the WidowMaker?

Long UGA  United States Gasoline Fund, LP

Short UHN  United States Heating Oil Fund, LP

track this trade over time:  http://www.etfdesk.com/headline.aspx?hId=2379

The Gas/Heating Oil spread has rallied sharply since the depths of the financial crisis.

Over the past year, the long UGA/short UHN  strategy would have gained about 20%.  Not suprisingly, these funds track the movements of the Oil funds closely, so essentially the Long/Short trade is a hedged Oil position.

Source: ETFDesk.com

UHN started trading on 4/9/2008, since then USO has fallen 54.91%, but the Gas/Heating Oil ETF Long/Short is up 19%. Notice that during the depths of Oil price declines in late ’08, Gas prices fell further.  As Oil (USO)  has recovered, Gas (UGA) has outpaced both Oil and Heating Oil (UHN).

Source: ETFDesk.com

 

 

Contango Can Kill Commodity ETF returns: ETFDESK Provides Alternatives

There is a great article from Index Universe today explaining the contango effect for future-based energy ETFs, USO and UNG.

Contango is a phenomenon in the futures market where, in simple terms, the price  to deliver a commodity in the future is higher than the spot price, or far future delivery is higher than shorter future delivery.  It is exemplified by a upward slowing forward curve.  The issue is magnified in future funds like USO, where contracts need to “rolled” into more expensive future contracts. 

Index Universe does a good job explaining this:

When markets are in contango, investors in futures or futures-based ETFs like the United States Oil Fund, USO, can lose money. It’s axiomatic, but we still get a surprising amount of e-mail from folks who simply think this is a myth. So let’s walk it through.

Let’s suppose that you (or the fund you own, such as USO) is holding the March oil contract (the “front month,” in futures terminology). As the expiration date approaches, you have to sell that contract. If you don’t, you’ll have to take delivery of physical oil inCushing, Okla.—and let’s be honest, no one wants to do that.

So you sell the March contract and buy the April contract. This is called “rolling” the position, and it’s what most traditional commodity ETFs, including USO, do.

Now suppose that “spot” oil is trading for $75/barrel. As the March contract approaches expiration, its price will converge with the spot price. That’s the way the commodities market works. But if the markets are in contango, the April contract will cost more; say, $80/barrel.

You don’t lose any money when you sell the March contract and buy the April contract; you simply own fewer contracts at a higher price. The trouble happens over the next month. If the spot price of oil stays flat at $75/barrel, the value of that April contract will slowly decay from $80/barrel to $75/barrel.

 

Contango has been present in most commodities this year, and Commodity ETF investors have suffered due to heavy contango.

The S&P GSCI Spot Index has outperformed the futures-based GSCI Total Return Index by 26%.

Source: Index Universe

As seen in the chart below, USO has underperformed spot Oil prices by 68%.

Source: Index Universe

Natural Gas has performed even worse with Spot Nat Gas prices rising 18% over the past year, while UNG has fallen 48%. 

Source: Index Universe

 

While we have written in the past that commodities can provide valuable portfolio diversification, one needs to tread carefully in these markets.  Looking out for contango and backwardation (the opposite effect of Contango which can actually enhance future based returns vs spot prices)  is neccesary when trading commodities, particulary volitile ones like Oil and NatGas. Index Universe notes that contango currently costs USO 6% before funds fees. Now obvisouly if you think Oil is set to rise more than 6%, it still may be a good bet.   However, for commodities in heavy contango, it might be advisiable to find commodity proxies, like holding companies that specialize in commodity products.  Now investing in equity alternatives have seperate risks and should be duly noted. However, one of the benefits of holding an ETF is that some of the individual company risk can diversified out by holding an entire sector opposed to one firm.  In times of heavy contango Commodity Corporations might be viable alternatives.

The performance of  FCG  (First Trust ISE-Revere Natural Gas Index Fund which is an index of NatGas producation and service companies) over UNG over the past year when NatGas prices were in heavy contango is astounding:  FCG was up %59 while UNG was down 43%.

source: ETFDesk.com

OIH (Oil Services HOLDRS) outperformed USO by about 7% over the past year.

source: ETFDesk.com

Daily “Ways-to-Play” The News Before the Moves 2/9/2010

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Traders Making Biggest Bet of AllTime Against Euro

According to the FT, traders have accumlulated the largest short position against the currency in its existenence, with positions totaling near $8 billion.

sell Rydex Euro Currency Trust (FXE)

buy ProShares UltraShort Euro (EUO);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Euro Falling, US Recovery Under Threat

Intensified fears over government debt in the eurozone are pushing the euro weaker against the dollar. The G7 achieved nothing over the weekend, the IMF is stuck on the sidelines, and the Europeans are sitting on their hands at least until a summit on Thursday. There is a lot of trading time between now and then – and most of it is likely to be spent weakening the euro further.

buy PowerShares DB US Dollar Index Bullish Fund (UUP)

sell SPDR-Financial (XLF)

sell S&P 500 SPDR (SPY)

selliShares S&P Global Financials (IXG)

sell iShares DJ US Financial Sector (IYF)

sell Rydex Euro Currency Trust (FXE)

buy ProShares UltraShort Euro (EUO);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Brian Nick: Time To Short Gold

Brian Nick, investment strategist, Barclays Wealth (Nick): Now is a good time to short gold, but probably a better time to short gold would have been back in November, when it was $200/oz higher

sell iShares COMEX Gold Trust (IAU)

sell streetTRACKS Gold Trust (GLD)

buy ProShares UltraShort Gold (GLL)

buy PowerShares DB Gold Short Exchange Traded Note (DGZ)

buy PowerShares DB Gold Double Short Exchange Traded Note (DZZ);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Tumbling Oil Prices May Herald a Bigger Dive to Come

Back when the world economy was booming prior to the credit crisis, speculation about how high the price of oil could go was all the rage on Wall Street. As demand surged, investment bank Goldman Sachs famously predicted $200-a-barrel prices, while more provocative commentators saw the price tag reaching $1,000 a barrel.

sell PowerShares DB Oil Fund (DBO)

sell United States Oil Fund LP (USO)

sell iPath S&P GSCI Crude Oil Total Return Index ETN (OIL)

sell United States 12 Month Oil Fund, LP (USL)

buy ProShares UltraShort DJ-AIG Crude Oil (SCO)

buy PowerShares DB Crude Oil Double Short ETN (DTO)

buy PowerShares DB Crude Oil Short ETN (SZO)

buy United States Short Oil Fund, LP (DNO);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Sugar Shortage May Turn ‘Acute’ in Third Quarter

Feb. 9 (Bloomberg) — A global sugar shortage, which drove prices to the highest level in three decades, may peak in the third quarter this year on demand from the U.S., Mexico, India and Pakistan, according to U.K.-based Tropix Capital Management.

buy iPath Dow Jones AIG Sugar Total Return Sub Index (SGG);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Daily “Ways-to-Play” The News Before the Moves 12/18/2009


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Nuveen Investments Arranges Additional VRDP Liquidity Facilities for Its Closed-End Funds

Nuveen Investments has arranged up to $2.5 billion in liquidity support from three major financial institutions for its leveraged municipal closed-end funds to issue Variable Rate Demand Preferred shares (VRDP). This represents an important action necessary to refinance those funds’ outstanding auction rate preferred securities (ARPS).

Check out how others are using ETFs to capitalize on this news or add your own opinion

Time Capsule Post (2010 Forecasts) — Open One Year Hence (The Big Picture)

“I hereby invoke Bob Farrell’s Rule #9: When all the experts and forecasts agree — something else is going to happen. Let’s look at the forecasted year-end 2010 levels for the S&P500 and S&P500 earnings:”

buy UltraShort S&P 500 ProShares (SDS)

sell S&P 500 SPDR (SPY);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Debt disaster fears rumble from Athens to London

By Polya Lesova, MarketWatch FRANKFURT (MarketWatch) — Rumors of a debt disaster are swirling around Europe, from Athens to Madrid and all the way to London. Investors have rushed to sell Greek bonds since the newly elected government of George Papandreou made a startling revelation: the deficit will soar to over 12% of gross domestic product this year, well above previous official projections.

sell WisdomTree Dreyfus Euro Fund (EU)

buy ProShares UltraShort Euro (EUO)

buy Market Vectors Double Short Euro ETN (DRR);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Gulf petro-powers to launch currency in latest threat to dollar hegemony

The Arab states of the Gulf region have agreed to launch a single currency modelled on the euro, hoping to blaze a trail towards a pan-Arab monetary union swelling to the ancient borders of the Ummayad Caliphate.

buy United States Oil Fund LP (USO)

buy United States 12 Month Oil Fund, LP (USL);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Nuclear Power Expansion in China Stirs Concerns

China is preparing to build three times as many nuclear power plants in the coming decade as the rest of the world combined, a breakneck pace with the potential to help slow global warming.

buy PowerShares Dynamic Building & Construction Portfolio (PKB)

Check out how others are using ETFs to capitalize on this news or add your own opinion

Germany warns of fiscal crackdown-Economist

“Germany is heading for a severe fiscal crackdown once the economic crisis is over, warned Wolfgang Schäuble, finance minister, on Wednesday, adding that reining in a soaring budget deficit would “not be achieved with the conventional instruments”.”- Could lead to higher taxes, rates…

sell iShares MSCI-Germany (EWG)

Check out how others are using ETFs to capitalize on this news or add your own opinion

U.S. Hurting in Wallet — and Spirit (WSJ)

The lingering economic crisis hasn’t just cost America trillions of dollars in lost wealth. It’s also taking a heavy toll on the national psyche, leaving scars that may take years to heal.

sell Claymore/Robb Report Global Luxury Index ETF (ROB);

Check out how others are using ETFs to capitalize on this news or add your own opinion

New Global Role Ahead for Chinese Yuan

As the dollar and euro face new pressures, Hong Kong’s former central bank chief Joseph Yam calls for a strengthened role for the Chinese yuan

Check out how others are using ETFs to capitalize on this news or add your own opinion

Oil Rises After Report That Iranian Forces Surround Iraqi Well

Oil rose after reports that Iranian forces entered Iraqi territory and surrounded a well.

buy United States Oil Fund LP (USO)

buy United States 12 Month Oil Fund, LP (USL);

Check out how others are using ETFs to capitalize on this news or add your own opinion

ETFDesk Daily 12/11/2009 Top News and Investment Ideas

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Today’s market-moving headlines, macro trade ideas and more…

  • The Invesco PowerShares Monthly ETF Report
  • VIX May Double in ’10 as Stock Gain Slows
  • France Said to Consider Following U.K. Bank Bonus Tax
  • British public finances: Tax and mend
  • Schofield UK AAA
  • Pimco Buys Abu Dhabi, Qatar Bonds After Dubai Shock
  • EVV & EVG Authorized To Participate in TALF Program
  • Military use of consumer technology: War games
  • Small business, big problem
  • China Imposes Duties on U.S., Russian Steel Imports
  • The peak-oil debate: 2020 vision
  • China’s economic recovery gathers pace
  • Oil futures edge higher as IEA raises 2010 demand forecast
  • Barclays Suspends Further Sales and Issuance of iPath MSCI India Index ETN
  • Carlyle turns its sights on Turkey
  • Rosenberg: Market Volatility Will Double And Stocks Will Collapse
The Invesco PowerShares Monthly ETF Report

Posted: 10 Dec 2009 12:54 AM PST

U.S. ETF Industry Highlights Financial Market Recap Market Performance: Month of November Strategy Focus: Build America Bonds: The Dawn of a New Fixed-Income Asset Class ETF in Focus: PowerShares Build America Bond Portfolio (BAB) PowerShares ETF Highlights

ETFDesk users see this as a potential opportunity to: buy PowerShares Build America Bond Portfolio (BAB);

Check out how others are using ETFs to capitalize on this news or add your own opinion

VIX May Double in ’10 as Stock Gain Slows

Posted: 10 Dec 2009 01:03 AM PST

The benchmark index for U.S. stock options may almost double in 2010 on investors’ concern that the Standard & Poor’s 500 Index’s rally outpaced prospects for economic and earnings growth

ETFDesk users see this as a potential opportunity to: buy iPath S&P 500 VIX Short-Term Futures ETN (VXX);

Check out how others are using ETFs to capitalize on this news or add your own opinion

France Said to Consider Following U.K. Bank Bonus Tax

Posted: 10 Dec 2009 01:45 AM PST

French banks would pay the charge, though the rate hasn’t been set, said the officials, who declined to be identified because they’re not authorized to speak to the press. Chancellor of the Exchequer Alistair Darling said yesterday all banks in the U.K. awarding discretionary bonuses of more than 25,000 pounds ($40,000) must pay a one-time levy of 50 percent. France is unlikely to impose a lower rate, an aide to Sarkozy said.

ETFDesk users see this as a potential opportunity to: sell iShares MSCI-France (EWQ);

Check out how others are using ETFs to capitalize on this news or add your own opinion

British public finances: Tax and mend

Posted: 10 Dec 2009 01:50 AM PST

Taxes rise in Britain, as the government struggles to get public finances in order

ETFDesk users see this as a potential opportunity to: sell iShares MSCI-U.K. (EWU);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Schofield UK AAA

Posted: 10 Dec 2009 03:16 AM PST

Worse than assumed..

ETFDesk users see this as a potential opportunity to: sell iShares MSCI-U.K. (EWU);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Pimco Buys Abu Dhabi, Qatar Bonds After Dubai Shock

Posted: 10 Dec 2009 04:07 AM PST

Pacific Investment Management Co., which runs the world’s biggest bond fund, is buying the debt of Abu Dhabi, Qatar and Ras Laffan Liquefied Natural Gas Co

ETFDesk users see this as a potential opportunity to: buy WisdomTree Middle East Dividend ETF (GULF)buyMarket Vectors-Gulf States (MES);

Check out how others are using ETFs to capitalize on this news or add your own opinion

EVV & EVG Authorized To Participate in TALF Program

Posted: 10 Dec 2009 04:59 AM PST

The Trustees of Eaton Vance Limited Duration Income Fund (NYSE Amex: EVV) and Eaton Vance Short Duration Diversified Income Fund (NYSE: EVG), each a closed-end investment company (collectively, the “Funds” and each a “Fund”), authorized the Funds’ participation in the Term Asset-Backed Loan Facility (“TALF”) program beginning December 14, 2009.

ETFDesk users see this as a potential opportunity to: buy Eaton Vance Short Duration Diversified Income Fund (EVG)buy Eaton Vance Limited Duration Income Fund (EVV);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Military use of consumer technology: War games

Posted: 10 Dec 2009 07:22 AM PST

Consumer products and video-gaming technology are boosting the performance and reducing the price of military equipment

ETFDesk users see this as a potential opportunity to: buy PowerShares Aerospace & Defense Portfolio (PPA);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Small business, big problem

Posted: 10 Dec 2009 07:25 AM PST

Smaller firms have far fewer choices. Too puny to be able to tap capital markets, they are at the mercy of the banks. America’s large firms get 30% of their financing from the banks; its smaller enterprises rely on them for 90% of their financing needs. In Europe small companies are in a similar bind. Bank lending to businesses in the euro zone fell by 1.2% year-on-year in October. True, lower lending volumes reflect weakening demand for bank credit as well as constrained supply.

ETFDesk users see this as a potential opportunity to: sell KBW Regional Banking ETF (KRE);

Check out how others are using ETFs to capitalize on this news or add your own opinion

China Imposes Duties on U.S., Russian Steel Imports

Posted: 10 Dec 2009 08:12 AM PST

China, the world’s largest steel consumer, will impose provisional duties on some U.S. and Russian imports following anti-dumping and subsidy investigations, escalating a trade spat started in September.

ETFDesk users see this as a potential opportunity to: sell Market Vectors Steel Index Fund (SLX);

Check out how others are using ETFs to capitalize on this news or add your own opinion

The peak-oil debate: 2020 vision

Posted: 10 Dec 2009 08:16 AM PST

Despite repeated downward revisions in recent years in its forecasts of global oil supply in 2030, the IEA has not until now committed itself to a firm prediction for when oil supplies might cease to grow. Its latest energy outlook, released last month, says only that conventional oil (as opposed to hard-to-extract sources like Canada’s tar sands) is “projected to reach a plateau sometime before” 2030.

ETFDesk users see this as a potential opportunity to: buy PowerShares WilderHill Clean Energy Portfolio (PBW);buy United States Oil Fund LP (USO);

Check out how others are using ETFs to capitalize on this news or add your own opinion

China’s economic recovery gathers pace

Posted: 10 Dec 2009 03:40 PM PST

The rebound in the Chinese economy accelerated again in November with industrial production rising by a larger-than-expected 19.1 per cent compared to the year before.

ETFDesk users see this as a potential opportunity to: buy iShares FTSE/Xinhua China 25 (FXI)buy SPDR S&P China ETF (GXC);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Oil futures edge higher as IEA raises 2010 demand forecast

Posted: 10 Dec 2009 10:20 PM PST

The International Energy Agency has revised up by 130,000 barrels a day its forecast for 2010 global oil demand, which is now expected to average 86.3 million barrels a day. That represents an increase of 1.7%, or 1.5 million barrels a day, compared to 2009.

ETFDesk users see this as a potential opportunity to: buy United States Oil Fund LP (USO)buy iShares S&P Global Infrastructure Index Fund (IGF);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Barclays Suspends Further Sales and Issuance of iPath MSCI India Index ETN

Posted: 11 Dec 2009 12:07 AM PST

AS DISCLOSED IN THE PRICING SUPPLEMENT RELATING TO THE NOTES UNDER THE HEADING RIISK FACTORS THE MARKET VALUE OF THE SECURITIES MAY BE INFLUENCED BY MANY UNPREDICTABLE FACTORS, THE MARKET VALUE OF THE NOTES MAY BE INFLUENCED BY, AMONG OTHER THINGS, THE LEVELS OF SUPPLY AND DEMAND FOR THE NOTES. IT IS POSSIBLE THAT THE SUSPENSION, AS DESCRIBED ABOVE, MAY INFLUENCE THE MARKET VALUE OF THE NOTES.

ETFDesk users see this as a potential opportunity to: sell iPath MSCI India Index ETN (INP)buy WisdomTree India Earnings Fund               (EPI);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Carlyle turns its sights on Turkey

Posted: 11 Dec 2009 12:11 AM PST

Private equity is in its infancy in Turkey, but several groups have expressed a strong interest in its fast-developing infrastructure and growing market for consumer goods. Private equity buyers have closed deals this autumn to take stakes in Tuvturk, the vehicle inspection group, and in the ground handling company Havas.

ETFDesk users see this as a potential opportunity to: buy iShares MSCI Turkey  Investable Market Index Fund (TUR)buy Turkish Investment Fund (TKF);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Rosenberg: Market Volatility Will Double And Stocks Will Collapse

Posted: 11 Dec 2009 12:13 AM PST

Having been on the wrong side of the market in 2009, Gluskin Sheff’s David Rosenberg is doubling down his bearish bet. It’s the smartest course of action for him at this point — so expect market volatility to double in 2010:

ETFDesk users see this as a potential opportunity to: buy UltraShort S&P 500 ProShares (SDS)sell S&P 500 SPDR (SPY)buy iPath S&P 500 VIX Mid-Term Futures ETN (VXZ)buy iPath S&P 500 VIX Short-Term Futures ETN (VXX);

Check out how others are using ETFs to capitalize on this news or add your own opinion

ETFDesk Daily 12/09/2009 Top News and Investment Ideas

Sign up for Daily email and feed at etfdesk.com

Today’s market-moving headlines, macro trade ideas and more…

  • BofA/ML : Ten Investment Themes For 2010
  • Ken Rogoff: Housing, Unemployment Will Get Worse Before They Get Better
  • Mexico hedges against falling oil prices
  • Collapse In Tax Withholdings Refutes Improvements In Either Unemployment Or Corporate Profitability
  • Dubai debt concerns spread beyond Dubai World
  • Ben Bernanke, Treasury Salesman
  • Paulson taking the long view on market
  • Mexico hedges against falling oil prices
BofA/ML : Ten Investment Themes For 2010

Posted: 08 Dec 2009 02:57 AM PST

From Bank of America Merrill Lynch comes investment strategy in the form of ’10 themes for 2010. They feel that next year will be “a genuine watershed” in that it will reveal whether or not this ‘recovery’ is real or whether the fundamentally drawn out weakness typically associated with bear markets will rear its ugly head.

ETFDesk users see this as a potential opportunity to: buy PowerShares WilderHill Clean Energy Portfolio (PBW);buy Market Vectors Gold Miners ETF (GDX)buy iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund (IEO)buy iShares S&P Global Financials (IXG)buy WisdomTree International LargeCap Dividend Fund (DOL)buy Nuveen Municipal Value Fund (NUV)buy WisdomTree Dreyfus Emerging Currency Fund (CEW);buy Direxion Daily 10-Yr Treasury Bear 3x Shares (TYO);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Ken Rogoff: Housing, Unemployment Will Get Worse Before They Get Better

Posted: 08 Dec 2009 08:18 AM PST

Harvard professor Ken Rogoff on TechTicker today.

ETFDesk users see this as a potential opportunity to: sell Retail HOLDRS (RTH)buy UltraShort Real Estate ProShares (SRS)sell SPDR S&P Retail ETF (XRT)sell iShares DJ US Real Estate (IYR)sell iShares FTSE NAREIT Retail Index Fund (RTL);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Mexico hedges against falling oil prices

Posted: 08 Dec 2009 12:06 PM PST

The world’s sixth largest oil producer said on Tuesday that it had hedged all its net oil exports for 2010, by buying protection against oil prices falling below $57 a barrel.

ETFDesk users see this as a potential opportunity to: sell SPDR S&P Oil & Gas Exploration & Production ETF (XOP)sell United States Oil Fund LP (USO);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Collapse In Tax Withholdings Refutes Improvements In Either Unemployment Or Corporate Profitability

Posted: 08 Dec 2009 02:26 PM PST

Even as the BLS and the administration are trying to cover up the real state of unemployment affairs using assorted semantic gimmicks of just what it means to be unemployed, and as companies provide adjusted EPS numbers, while actual earnings continue to collapse, the true barometer of spending, provided by the Financial Management Service, tax withholdings (net of refunds), continues to paint the truest picture of just what is really happening with both America’s consumer and the

ETFDesk users see this as a potential opportunity to: sell SPDR S&P Retail ETF (XRT)sell S&P 500 SPDR (SPY)buy UltraShort Lehman 20+ Year Treasury ProShares (TBT)buy Direxion Daily 30-Yr Treasury Bear 3x Shares (TMV)sell PIMCO 7-15 Year U.S. Treasury Index Fund (TENZ);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Dubai debt concerns spread beyond Dubai World

Posted: 08 Dec 2009 11:34 PM PST

Fears that Dubai’s debt problems are not limited to troubled state conglomerate

ETFDesk users see this as a potential opportunity to: sell iShares MSCI-Emerging Markets (EEM);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Ben Bernanke, Treasury Salesman

Posted: 08 Dec 2009 11:47 PM PST

The talk put a floor under the Treasury market,

ETFDesk users see this as a potential opportunity to: buy iShares Lehman 20+ Year Treasury Bond Fund (TLT);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Paulson taking the long view on market

Posted: 08 Dec 2009 11:55 PM PST

“Our net longs are the highest ever,” Mr Paulson said in a speech in New York on Tuesday. “There are lots more long opportunities than short opportunities in the market. Zero interest rates are a huge tonic,” he added.

ETFDesk users see this as a potential opportunity to: buy S&P 500 SPDR (SPY)buy streetTRACKS Gold Trust (GLD);

Check out how others are using ETFs to capitalize on this news or add your own opinion

Mexico hedges against falling oil prices

Posted: 08 Dec 2009 11:59 PM PST

Mexico has taken out a $1bn insurance policy against oil prices falling next year, a clear signal that commodities producers remain wary about the threat of a double-dip recession. The world’s sixth largest oil producer said on Tuesday that it had hedged all its net oil exports for 2010, by buying protection against oil prices falling below $57 a barrel.

ETFDesk users see this as a potential opportunity to: sell United States Oil Fund LP (USO)sell iShares MSCI-Mexico (EWW);

Check out how others are using ETFs to capitalize on this news or add your own opinion


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