Thursday, May 31, 2012

Add To Proshares UCO

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ITZ suggests adding another 1/4 position into the Proshares Ultra Crude Oil (UCO) ETF here at $29.25, bring the position to 3/4. We'll see how markets react tomorrow on the BLS Jobs Report. ITZ has been looking to add at $28, we'll perhaps see that tomorrow and make a decision as to add remaining quarter position then.

WTI Crude Oil Tests $86

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Wednesday, May 30, 2012

WTI Oil Below $90 ....Oversold!

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The Weekly Petroleum Status Report will be released on Thursday, May 31, 2012 at 11:00 A.M. and 1:00 P.M. (Eastern Time) due to the closure of the Federal Government on Monday, May 28. LINK

ITZ has used the Gold:WTIC Ratio for some time now, we could see gold rally soon, ITZ still believes the yellow metal could rise to $2,000. If it does & the ratio say remains at 17, will place oil @ $118. Most plausible is gold rising to $1700, that would equate at a 17:1 ratio to $100 oil. CHART

ITZ oil trade has been Proshares Ultra Crude Oil ETF (UCO) --- entering 1/4 trades on May 9th @ $36.70, May 23rd @ $32 and now targeting $28 as the next 1/4 position entry point. UCO closed today at $30.07.

S&P500 & VIX Update

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Are we looking to test the 200 ma Past Blog Post

Apple Update

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Monday, May 28, 2012

ITZ Weekend Update: Risk Appetite

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The US Dollar looks ready to pullback after putting in a 17-month high as technical positioning across financial markets signals at a broad recovery in risk appetite.

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Friday, May 25, 2012

Silver Wheaton (SLW) Update

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Washington Post Looks Interesting Here (WPO)

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Warren Buffett, whose Berkshire Hathaway Inc. (BRK/A) struck a deal this month to acquire 63 newspapers, said he may buy more publications as the industry rethinks whether to offer free content on the Internet. Berkshire is the largest shareholder of Washington Post Co. (WPO) and purchased the World-Herald last year. Buffett said the company’s newspapers won’t “move the needle in terms of Berkshire’s economic value” in a letter.   Read Story

Taking a look at the fundamentals, 2010 earnings estimates were for $24.36, they surprised at $38.15, 2011 est called for $19.71 they came in at $24.02. For 2012 & 2013 estimates are $20.17 & $18.63, respectively. Currently trading at $345 the stock trades at a forward p/e of 17 with a 2.85% yield.

Wednesday, May 23, 2012

Time To Add To Oil Position

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On May 7th, 2012 ITZ noted that WTI Crude Oil was most likely going to head lower and test the $90 level. ..LINK

ITZ suggested a 1/4 position in Proshares Ultra Crude Oil ETF (UCO) on May 9th @ $36.70

Let's enter another 1/4 position here @ $32
This is the 3rd consecutive year where crude oil has sold off in the month of May.

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Oil turns negative for 2012. Mark Fisher, MBF Clearing CEO, shares his thoughts on the reasons why.

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Euro Going Lower

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Monday, May 21, 2012

Relief Rally Or More?

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ITZ has been calling for a reversal at the 1286 level on the S&P 500, we came close. But is this just a relief rally or more? Past ITZ Post & Charts

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Sunday, May 20, 2012

Silver & Silver Wheaton (SLW) Updates

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ITZ has been looking for a reversal in silver and in Silver Wheaton (SLW) and at current levels the stock is a bargain.  Past post Chart

ITZ was calling for a reversal on silver prices around the $26/$27 level.... LINK
Recent Forbe's report 'Silver Wheaton's Worth $37 Despite Slump In Silver Prices'  >>click here

Eric Sprott on CNBC sees silver outperforming gold