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Alaron Energy CommentCHICAGO - May 13/08 - SNS -- Following is the energy futures comment from Alaron Trading Corp.
The oil market pulled back as it tried to assess the damage that was done by the devastating earthquake in Chengdu, China. Tens of thousands of people were killed and many more injured and missing in the aftermath of the 7.9 magnitude earthquake. Reports of damage are wide spread and the government has ordered chemical plants to be closed. Power plants are also shut down as the market will try to gage the long term impact. The energy market was also trying to understand and absorb why China's oil demand fell 3.8% in April, yet China's demand is still up on the year by 9.8%. China's inflation in April came in at a blistering 8.5% which was the second highest monthly level in 12 years. Of course the key will be what the Chinese government plans to do about it. In the short run they have moved to tightened monetary policy by raising rates on commercial banks by 50 basis points to 16.5%. Are gas prices getting you down? Well hang in there because it won't be too long before you might have an alternative. The New York Times reports that Nissan Motor Company plans to sell an electric car in the United States and Japan in 2010. The International Energy Agency lowered the world demand estimates as they lowered the China demand numbers as well. Check me out on the Fox Business Network! If you don't get it you need to call your cable operator today. Also call to get your free trial of Alaronenergies! Call me at 800-935-6487 or email me at pflynn@alaron.com to open your trading account. Buy June crude at 12100 - stop 11950. Buy June heating oil at 33000 - stop 32700. Stopped on short June RBOB from apprx 31900 at apprx 32100. Buy June natural gas at 1100 - stop 1070. Have a GREAT day! Phil Flynn Alaron Research Team 800.563.9510 pflynn@alaron.com DISCLAIMER: Futures and options trading involve substantial risk. The valuation of futures and options may fluctuate, and as a result, clients may lose more then their original investment. In no event should the content of this website be construed as an express of an implied promise, guarantee or implication by of from the author(s) that you will profit or that losses can or will be limited in any manner whatsoever. Past performance is not necessarily indicative of future results. Information provided on this website is intended solely for informative purposes and is obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted. Alaron Trading Corp. its officers, directors, employees and brokers may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Information on this page is derived from third parties and is deemed to be reliable. STAT Communications Ltd. accepts no responsibility for errors, omissions or inaccuracies in any of the material presented on this web site. Opinions expressed on this web site are those of the respective individuals and/or institutions and do not represent the opinions of STAT Communications Ltd. and/or STAT Publishing or its staff and/or management.
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