The ever-changing pattern in the energy inflation mosaic is likely to come from the Natural Gas prices (both in the US and in Europe) overtaking the leadership from the price of crude oil.

Why? The price of Natural gas is far, far less politicized – how many ppl quote natgas prices daily?Adding to the confusion – the units of measurement in Europe and in the US are different (the US uses $/mmBTU while Europe uses Euro/MWHEurope has almost fully greenlighted Natural Gas as a green fuelUS shipments of ...

The market should bounce pretty soon

The key to watch now is now the USD – the greenback.We need to see some weakness in it to pave the road for a market snapback.USD is making multi-year highs but was flat-lining last 2 days. ...

When will this carnage in Equities stop?

We still don’t see signs of decisive reversal, but we can tell you two things with certainty:·       the market would not make a bottom on good news·       it would be on sellers’ exhaustion. ...

Judging by the returns on hedge funds YTD

we could likely see a few high-profile closures by the year-end.We track at least 60 (!) large Hedge Funds trailing S&P500 by 500 bps or more, that means YTD produced negative returns of -15-40%.OuchAs we all know, given the high watermark rule that most Hedge Funds follow, it is a lot easier to close the ...

Why are cryptocurrencies getting slaughtered in line with big speculative Tech stocks?

Because of the common ownership: Are some of these folks pure short-term gamblers? Yes, a bit.. Are some of these folks clueless about the excessive valuations (i.e. exorbitant valuations)? Yes, a bit, but they think it doesn’t matter! Are these investors facing fear and calls for liquidations? Yes, a LOT! We call it “weak hands” ...

This chart clearly depicts that Canadian crude oil production (blue line) is breaking out to the new all-time highs.

While US Crude Oil production is barely recovering (almost stagnating)… ...