Wednesday, 8 July 2009

CFTC & speculation on commodities

Another bear is Edward Meir, of MF Global, who wrote that, “Despite the string of declines hitting the crude-oil markets of late, we do not think the current selling bout is over just yet … The markets remain vulnerable to a poor fundamental backdrop, typified by high stocks and lackluster demand.”

And in noise out of D.C., the Commodities Futures Trading Commission says it will hold hearings in July and August on whether to limit investor positions in commodities, particularly crude oil, heating oil, natural gas and other energy products. The CFTC is targeting investments from exchange-traded funds and index investors. => ooooooppppsss

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