‘The Italian Job’ is a 1969 film caper and one of the best-loved British films of all time. Its premise is a gold heist in Rome involving lots of Minis. In one of the most famous scenes, two of the heisters are testing explosives on a truck, leading Michael Caine to utter the immortal words ‘you were only supposed to blow the bloody doors off!’.
Although I’m working on a few other posts, I’ve been distracted this past week by a number of key documents, speeches, and data releases (and of course, the omnipresent preoccupation of linking cartoons to commodities). Hither and thither, here are some observations I have cobbled together.
Commodityworld™ is very much like The Rolling Stones, full of energy and gathering no moss. Seeing a recent picture of the Stones got me wondering about which commodity best represented each of them (welcome to my world…). Keith was easy to choose, but as for Mick I couldn’t get no satisfaction, well, you’ll see…here’s the wrinkled rockers with their commodity equivalents. » read more
I bid you a royally warm welcome to this last Friday in April. The week that was brought us a rally in natural gas, busting through resistance at $4.40ish, which had rebuffed a number of tests in the past month or so. Crude has bobbed along, treading water with the floatation devices of a weaker US dollar and the omnipresent unrest in the Middle East, while economic data or economic outlooks (h/t Ben Bernanke) provided little impetus for prices to rally. Next week is exciting for fifty-seven reasons – two of those being Nonfarm Friday and the Kentucky Derby, but for now, a royal feast is served: » read more
As we come to the end of this first full week in April, the commodity train is stuck at a station called déjà vu, as Japan experiences another sizeable aftershock (to add to the 900 aftershocks in the past month), and oil prices continue to rally on the escalating turmoil in Libya. Natural gas has built up a head of steam and has headed south for six consecutive days on undemanding weather (from a heating perspective) and record production (…déjà vu). That said, prices are seemingly halting at the psychological stop sign of $4. Hark, snacks ahoy: » read more
Matt Smith spent his twenties working in investment management in London, before swapping his bowler hat for a banjo and moving to Louisville, KY, and Summit Energy. When he is not reading, writing (or dreaming) about financial markets, he can be found enthusing about music, red wine, spicy food, or his family. And lamenting his soccer team, West Ham.
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