Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life
http://www.thegmanifesto.com
Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life
http://www.thegmanifesto.com
Speculators may be running for the exit doors on talks of more government involvement in the futures market, but I feel their exit may be premature seeing that the government is just talking at this point. Since the government has not screwed things up enough they are now discussing more stringent controls in the commodities markets. I welcome regulation when it works and the theory of instituting position limits sounds good, however the likelihood of volatility decreasing on that action is debatable. Contrary to popular opinion it is the speculator that plays a vital role in providing liquidity in the marketplace and without their involvement price distortions may in fact increase. Is it completely impracticable to think that changes in supply & demand could have a more significant impact on pricing? Perhaps the fact that commodities are becoming a more mainstream asset class, recent estimates show that $25 billion has poured into commodities in the first half of 09’.
To find out exactly how we are positioning our clients in commodity futures and options, Contact us today at 1-888-920-9997. Don’t forget to tell them The G Manifesto Sent you.
Energies
The DOE reported crude oil supplies were down 2.9 million barrels, supplies of gasoline were up 1.9 million barrels and heating oil supplies were up 2.0 million barrels. August oil traded lower by $5.65 losing ground 7 out of the last 8 sessions, the longest losing streak since December. Support comes in at the 100 day moving average at 58.82 followed by 56.00. Resistance is at 62.00 followed by the 50 day moving average at 65.15. Currently we have no exposure with clients. August RBOB was lower by 10.25 cents. A potential triple bottom has formed between 1.6250 and 1.63 but stronger support is seen at 1.55/1.56. Being prices are extremely oversold we may see a bounce, resistance is first seen at 1.72 followed by 1.77. August heating oil lost 16.94 trading lower the last 8 consecutive sessions. Prices at the end of the week started to show some resolve closing almost 4 cents off their lows. Support at 1.50 resistance at 1.60.
The DOE reported underground supplies of natural gas were up 75 billion cubic feet last week to 2.796 trillion cubic feet. Supplies are now up 27% from a year ago. August natural gas was down 24 cents to a new contract low. We’ve been buying clients October $1 call spreads now for the last 3 to 4 weeks and are down but not out. If we do not see a reversal within the next 7/10 days we may start buying November instead of October. Last week’s low at 3.34 should support with resistance at 3.60 followed by 3.80.
To view our full commentary which includes the sectors of energies, livestock, currencies, financials, grains, softs, and metals, subscribe by visiting this link: http://mbwealth.com/subscribe.html.
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Risk Disclosure: The risk of loss in trading commodity futures and options can be substantial. Before trading MB Wealth recommends that you should carefully consider your financial position to determine if commodity trading is appropriate for you. All funds committed should be purely risk capital. Past performance is no guarantee of future trading results. There are no guarantees of market outcome stated, everything stated above are our opinions.
Brazilian authorities detained the wife of former boxing champion Arturo Gatti and formally accused her on Sunday of killing him at an upmarket seaside tourist resort in Brazil.
Police said 23-year-old Amanda Rodrigues was taken into custody after contradictions in her interrogation and presented a formal accusation against her. Prosecutors will later decide whether she will be charged.
Rodrigues, who denies any involvement in her husband’s death, was the first to find the slain boxer’s body early on Saturday inside the vacation apartment they were renting at the Porto de Galinhas resort in northeastern Brazil, police said.
The former junior welterweight champion was apparently strangled with the strap of a purse, which was found at the scene with blood stains, said Milena Saraiva, a spokeswoman for the Pernambuco state civil police.
She told The Associated Press that the Canadian also sustained a head injury.
Police said Rodrigues, a Brazilian, could not explain how she spent nearly 10 hours inside the residence without noticing that Gatti was already dead.
Rodrigues told police she had a fight with Gatti after dinner on Friday night and he pushed her to the ground during the altercation, causing her to sustain minor injuries to her elbow and chin.
She told authorities Gatti was drunk and that a third party likely committed the crime after he went to the apartment by himself.
Witnesses had reported to police that the couple fought and that Gatti was drunk.
Authorities were told the couple was extremely jealous of each other and that Gatti constantly complained about her clothing when she travelled to Brazil, Saraiva said.
Acelino “Popo” Freitas, a four-time world champion Brazilian boxer, told Globo TV’s website on Saturday that he was a close friend of Gatti and his wife and that he “knew they were having some sort of problem and were about to separate”.
They had planned to spend a month in Brazil on holiday.
The couple’s one-year-old son, who was unhurt, was handed to Rodrigues’ sister, Saraiva said.
The 37-year-old Gatti, whose epic trilogy with Micky Ward made him one of the most exciting fighters of his generation, retired in 2007 with a career record of 40-9 and 31 knockouts.
Known for his straightforward punching and granite-like chin, Gatti captured the super featherweight title in 1995, when he defeated Tracy Harris Patterson in Atlantic City. He won the junior welterweight title in 2004.
Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life
http://www.thegmanifesto.com
The wife of former boxing champion Arturo Gatti was detained as a suspect by Brazilian authorities Sunday following his death at a posh seaside resort.
Police said 23-year-old Amanda Rodrigues was taken into custody after contradictions in her interrogation. Gatti’s body was found early Saturday in a hotel room at the Porto de Galinhas resort in northeastern Brazil.
The former junior welterweight champion was apparently strangled with the strap of a purse, which was found at the scene with blood stains, said Milena Saraiva, a spokeswoman for the Pernambuco state civil police. She told The Associated Press that the Canadian also had a head injury.
The investigation was not complete, but Saraiva said authorities were preparing to present a formal accusation against Rodrigues, who denied being involved in her husband’s death.
Police said Rodrigues, a Brazilian, could not explain how she spent nearly 10 hours in the room without noticing that Gatti was already dead.
Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life
http://www.thegmanifesto.com
