1210 days ago
Lumber futures fill gap, hit 61% Fibonacci of drop
It's been a sharp comeback for lumber futures, which are retracing a big drop back from the peaks earlier in the year. The 61.8% Fib retracement offers possible resistance.
1210 days ago
Chart of the day: Bloomberg Commodity Index at 6 year high
Source: Bloomberg
1211 days ago
Doordash is making quite some noise entering the public market
The company's shares soared on entering the market, with a 85% increase on their first day of trading on the NYSE, giving the company a valuation of $60 billion. The stock was priced at $102 on Tuesday night before reaching almost $190 as I'm writing this piece. Food delivery really is one of the sector winning the pandemic, both in the real economy and on stock markets.
1212 days ago
The spread between March and April natural gas futures collapsed to zero on Tuesday
This spread is critical in gauging how tight supplies will be for the North American winter. In one of the earliest collapses to less than zero, for the first time since 2015, this suggests traders are forecasting a mild winter that will dent energy demand. "It's a significant event," said Gary Cunningham, a director at Stamford, Connecticut-based Tradition Energy. "We may end winter with very strong gas inventories." - source: www.zerohedge.com, Bloomberg
1212 days ago
Bitcoin vs. Gold: everybody is letting the old treasure go to grab the new one
Since October, Gold saw a $7 billion capital outflow, while Bitcoin boomed with a $2 billion capital inflow.
