Eric Bolling Stock Picks & Commentary

Torture Debate

2011-05-27T10:00:00.000-04:00

Opportunist Magazine Interview

2011-05-04T09:38:00.000-04:00

Eric Bolling “Calls ‘Em As He Sees ‘Em”

The host of Fox Business Network’s “Follow The Money” talks with Managing Editor Leslie Stone about his former life in pro sports, the excitement of the trading floor and how he broke into financial journalism.

Eric Bolling’s TV career began quite by accident. “Oil had started climbing to $50 a barrel for the first time, and CNBC had a camera on the NYMEX (New York Mercantile Exchange) trading floor. I was all caught up in the excitement when one of their reporters tapped me on the shoulder and asked if I’d give him a few minutes about what was going on in the oil pits,” Bolling says. The network liked what they saw and he soon found himself doing a weekly segment from the trading floor. “About a year into that someone from CNBC called and said they were planning a new show and asked if I’d like to become involved. They needed someone right then and there and they grabbed me. ‘Fast Money’ debuted in June 2006 and is still on the air today.”

Opportunist: Was it difficult to go from commodities trader to TV personality virtually overnight?

Eric: I had to contemplate should I stay in the trading world or make the leap over to full-time TV? It was a tough call because I was at the top of my game and both are fantastic career opportunities. Trading was great — it got me here — but you cannot be a full-time trader and do financial TV. It’s a conflict of interest, among other things.

Opportunist: You’re known for your “take-no-prisoners” approach to public figures. Why are you so hard on them?

Eric: (Laughs) “Political hack” is what some people call me, but I love it. I grew up in Chicago, where everything you do is tied to city hall. It’s part of my DNA. I live for the politics, and I’m not afraid to ask a congressperson from either side of the aisle to throw away the talking points and tackle what’s really going on. I don’t hold back, so they usually get mad and spill their guts.

Opportunist: How do you handle guests who skirt the issues or refuse to answer your questions?

Eric: Keep asking and call them out! Politicians hate to be called out on air — even those who see things exactly as I do. I’ll say, “Hey senator or congressman, you just said you want to cut the deficit but you’ve given me no examples of how you’re going to do it. If you’re on TV telling me you are going to cut the deficit, you need to tell me how. Sometimes they will come up with something and sometimes they won’t.

We do a segment every Tuesday night with the mayor of Lansing, Mich. He’s very union-friendly and pro-autoworkers and steel workers. Our discussions get very heated and intense. We just go at it! He blames Wall Street, and I blame the unions.

Opportunist: Has anyone ever been apprehensive about appearing on your show?

Eric: Frankly, yes, there are several instances where we tried to book a guest for a second round and when the people handling their schedule realized it was my show they declined because it was too hard the first time. Maybe that’s why I take heat — for being too tough or obnoxious — but as long as we get the information out, that’s all good.

Opportunist: What was your most exciting moment in broadcast?

Eric: I had the opportunity to sit down with Jesse Ventura, former governor of Minnesota, to talk about conspiracy theories. Suddenly, the conversation took a left-hand turn toward 9/11, and he jumped into the U.S. government being behind the attacks. He pulled out a picture and said it was faked! I said, “Governor, you’re out of your mind. I was in the World Trade Center for both (1993 and 2001) and I watched a plane fly into the building with my own two eyes.” He stood up, shaking, with his eyes blaring. It was so intense that he wanted to take me down in a wrestling hold!

Whenever they tap me to fill in for Bill O’Reilly, the intensity of being “in the zone” is incomparable to anything I’ve ever done — in a good way. It's like being up to bat with bases loaded, two outs, bottom of the ninth and the pitchers throwing 100-mile fastballs at you!

Opportunist: What prompted your move from CNBC's “Fast Money” to the Fox Business Network?

Eric: When I would come home at 10 o’clock at night my 7-year-old son would be in tears, crying “Daddy why aren’t you ever here anymore?” So, I asked CNBC to move the show to an earlier time. They said they would but, in the meantime, Mr. Ailes (from Fox) came by and said they were launching a new network and offered me an opportunity to host a show called “Happy Hour.” Three weeks later, CNBC announced the show’s move to 5 p.m., but I had already given Fox my word.

Opportunist: Was it odd to compete with your former show in the same time slot?

Eric: It was definitely interesting to go up against a show that I developed at CNBC. One of my first duties at Fox was to fill in for Neil Cavuto. It was right before the 2008 presidential election cycle, when candidates were still picking running mates, and I interviewed Sarah Palin, then-governor of Alaska. We talked oil, and it was a great interview. Two days later, she was named McCain’s running mate. The media used that segment as a go-to interview to see if there was any hint of her becoming a candidate for vice president.

Opportunist: Tell us about a typical day working on “Follow The Money.”

Eric: We put the show together from the crack of dawn right up until show time. At 9 o’clock every morning we hold an editorial meeting to discuss what we’re going to air, and then we sit in the newsroom and tweak it. By 2 o’clock we lock the show down with what we like and then we tape it. Hopefully, everything turns out the way we expected. But we always ask, “What can we do better?” As a panel show, it’s unique because the panelists are there for the full hour. They help me weigh in on all the issues — the economy, elections, taxes or whatever. Even if it’s not their expertise I want to hear what they have to say. The show is a 24/7 commitment, just like trading. Something may happen overnight or on the weekend that I need to know. I can be at a cocktail party on a Saturday night and my Blackberry will start buzzing with news, but I thrive on it.

Opportunist: Who is the most impressive person you’ve met?

Eric: One of the most interesting interviews I’ve done was with Donald Trump. He’s a walking sound bite, and I admire him for having the nerve to actually say what the rest of us are thinking. Love him or hate him, you’ve got to respect where he’s coming from. He would be a great presidential candidate.

Opportunist: Have you met Rupert Murdoch? How involved is he with Fox?

Eric: Yes, I’ve met Mr. Murdoch a few times. I’m up on the 12th floor, though, and all the intricate corporate stuff takes place on other floors.

Opportunist: Who was your most enjoyable interview and why?

Eric: Honestly, they’re all great. I’m fortunate to meet so many lawmakers and politicians and titans of business. Dr. Phil is fun and interesting. And, no, he didn’t try to analyze me. (Laughs) He surprises me with how tuned-in he is to the politics of today. He breaks things down to where the rubber meets the road, with real-world examples of how tough economic times are affecting the average person.

Opportunist: How did you land a professional baseball contract?

Eric: I was drafted out of Rollins College in Winter Park, Fla. Rollins is a baseball powerhouse and a recruiter school to the scouts. My senior year I was playing third base when the Pittsburgh Pirates came down to dedicate our new stadium. During the second inning, I hit a homerun off their starting pitcher. It was a fantastic moment for me and probably the worst for him, to have some college kid show him up like that. Duke University had awarded me a fellowship to its School of Public Policy but I opted to play professional baseball instead.

Opportunist: Tell us about life in professional sports.

Eric: It was tough. We got $400 a week plus room and board. There wasn’t much going on in Pirate City (Bradenton, Fla). We’d basically hang out at the local mall with our Pirates jacket on. And we shared a bus with the Braves that we had to push-start for a good portion of the season. Someone would jump into the driver’s seat and pop the clutch while a few of us pushed it. Then we’d jump in and go.

You’re there because you love something. I couldn’t imagine doing anything if my heart wasn't in it. The same formula works for baseball, trading and TV. You have to start out with a total commitment to the cause. I’m all in because there are a hundred thousand Little Leaguers trying to fill one spot.

Opportunist: How did you go from baseball to commodities trading?

Eric: I blew a rotator cuff in my second year with the Pirates and had to look for a job. Mobil Oil was the first one that came along. The father of my girlfriend at the time was in the oil trading business, and I asked him to help me get in and we kind of bumped around with that. Then I landed on the NYMEX (New York Mercantile Exchange), where I spent about 17 years as a board member, specializing in natural gas, crude oil, gold, and other commodities.

Opportunist: It’s been reported that you account for up to 5 percent of total volume in the natural gas futures floor. How do you accomplish that?

Eric: It’s tough. Trading isn’t for the weak or those who can’t stomach risks or make a total commitment. If it were easy everyone would do it. It’s a 24-hour business. When you get that phone call at 3 o’clock in the morning that says “get up and check the screen,” you better be willing to wake up and see what’s happening in oil. People who succeed study hard and take risks.

Opportunist: Do you have any advice for aspiring broadcast journalists?

Eric: It’s very competitive, but if you love it and it gets your blood flowing, stay with it. Today, networks are using more business people on opinion shows and news shows. It’s a long, hard fight but I enjoy it. Like anything else — baseball or any pro sports career — there are plenty of “coaches” who say you can’t do it. So, you have to be the one who persists and doesn’t quit.

Opportunist: What’s next for you Eric?

Eric: When I’m done with this, I’m going to be the Energy Secretary to any future administration. (Laughs) I am laughing — but not really. Frankly, neither the right nor the left is ready to attack the issues. A $33 billion spending cut is a deck chair off the Titanic when we have a $14 trillion debt that’s going to sink this ship. It’s insulting to anyone with intelligence.

Opportunist: Do you see the United States moving to green, renewable energy?

Eric: In the distant future. We can’t put all our eggs in the green agenda basket. We are wasting our time on windmills and biofuels from switch grass. I’d like to see us safely and efficiently embrace nuclear energy. And we really shouldn’t be figuring out ways for Brazil to drill oil so we can buy from them instead of Saudi Arabia. We have more oil than Saudi Arabia, so why are we buying Brazilian or Venezuelan oil? Our policy should be 100 percent focused on domestic energy production. The environmental lobby wields a lot of votes at the expense of mainstream America. At some point we’re going to have to say, “Sorry environmentalists” and focus on drilling our own oil.

Opportunist: Do you have faith in the future of electric automobiles?

Eric: The consumer isn’t ready for the electric vehicle. Case in point: GM was expecting to deliver 10,000 Chevy Volts in its first year but only delivered 600 or 700 within two months. They will never meet their projection. What’s so green about a Chevy Volt anyway? Electricity comes from coal. Come on, give me a break. Let’s put it this way, you sure can’t install a windmill on a Ford F-150 and expect to drive it across town.

Opportunist: Do you believe the recent disaster in Japan will have a long-term negative impact on the nuclear industry?

Eric: There was already a lot of negativity being slapped on the nuclear industry. It doesn’t deserve that. It’s the safest, cleanest and cheapest form of energy in the world and we should be embracing it rather than running away from it. It’s the answer. The United States currently operates at about 18 percent nuclear power whereas France is 80 percent and other European countries are 50 percent. It would take pressure off oil and ease prices at the pump and the grocery aisle, and yet no one seems to want to embrace it.

Opportunist: Thank you so much for agreeing to talk with us. We wish you continued success.

Eric: My pleasure. By the way, please tell Roy Meadows, my finance professor at Rollins College (and Opportunist magazine’s co-founder), that I learned more from him in one semester than I did in all my years of college.

Fred Thomson Interview:Teaching The Pig To Dance

2011-03-11T12:44:00.003-05:00

FBN's Eric Bolling: Oil Prices Spike as Libyan Protests Increase

2011-03-11T12:41:00.000-05:00

FBN's Eric Bolling: Oil Prices Spike as Libyan Protests Increase

Eric on New Jersey People

2011-03-11T12:36:00.000-05:00

Why Money Rocks Became Follow The Money

2011-01-11T12:03:00.001-05:00

Fox Business Host Eric Bolling Explains Why Money Rocks Became Follow The Money
by Mark Joyella | 10:38 am, January 11th, 2011

Fox Business host Eric Bolling opened up about his family life and the evolution of his show, which debuted with the name Money Rocks. Bolling, a self-described “political junkie” has developed a following for his take-no-prisoners approach to public figures.

The pitbull approach didn’t really fit with the light name Money Rocks, and Bolling and the show’s producers quickly realized the name had to go:

Bolling and his producers didn’t feel the title Money Rocks fit the hard-hitting direction in which they were headed, so in October, Bolling announced a new name for the program, Follow the Money with Eric Bolling.

The new name made more sense, Bolling tells Park Place magazine, as he started calling out public officials on government spending–an approach that’s been a success with viewers:

“He’s a Jersey boy like me; he just calls ‘em as he sees ‘em,” says Neil Cavuto, senior vice president of Fox Business Network and a Mendham resident. “Viewers sense that clear, blunt approach. That’s why so many are drawn to Eric and his show.”

from:
http://www.mediaite.com/tv/fox-business-host-eric-bolling-explains-why-money-rocks-became-follow-the-money/

Hold On to Your Gold

2010-05-25T10:47:00.001-04:00

Fred Thompson on Lessons Learned at the Dinner Table

2010-05-19T10:53:00.000-04:00

Blumenthal's Blunder

2010-05-18T10:54:00.000-04:00

Arizona vs. California

2010-05-17T10:56:00.000-04:00

Gold Reaches New All-Time High

2010-05-13T10:50:00.001-04:00

Trying to Move to Mexico?

2010-05-10T11:02:00.000-04:00

Gold's Record Setting Run

2009-10-08T11:34:00.000-04:00

Twitter Taking Over The G-20?

2009-04-03T14:18:00.000-04:00

G twining their sweetie. At halftime of NBA games NBA's -- don't and that -- even weeding in the presidential in the chamber. During the presidential address on talking about Twitter with us today we -- Todd Davis he's one of the top shareholders. -- Twitter these new phenomenal the hottest social networking site around Todd give us give -- say -- a sense of how. -- growing from your perspective."

" Both growing very fast I can't give you exact numbers but. Let's just say it is it's taking off. Very quickly put has been around for about three years but in the last year. Even the last a few months it's really taken --"

" I -- it's not I've been talking about what are quite a bit I actually use Twitter just some of the shows they keep my my screen opened its open right now. I find it a very very valuable -- knowledge from social networking I want to tell people what I'm doing but I put out things like I have Todd -- Chris -- just that we did that right now. To the Twitter community. Is this -- this -- not it's so -- a flash in the pan or is this something to revolutionize the way we we kind of interact with each other."

" Well I hope it's the latter. I don't think it's a flash in the pan and I I think that it's it's a new communications standard for people it's a new way to social network it's very efficient. You know people that don't have a lot of time to coordinate their hearts out and blogs. Can send out a short message and reach thousands hundreds. Potentially millions of people without message."

" odd couple -- put aside a second go that you're on they want to know happy hour live to -- tweaking it's so in other words I put it out there are now. The people who already have put out there to their. To their followers it really -- viral that -- here's my question -- a good friend of -- once that Twitter headquarters here in New York. He went any thought that the only forty. Employees running this whole ship is bad enough and what are you going to do to make sure. That -- grows and is able to grow."

" Now it's not enough we're -- we're going to be increasing the number of people in the company would just raise a bunch of money that money is for hiring people to. The scale the organization to to scale the platform itself to make sure it couldn't stand all this growth."

" Now let's talk about FaceBook real quick I've noticed at FaceBook has changed the way you -- the way the way you post what you're doing to almost mirror. The -- and for people I don't know we have a 140 characters to say what you get -- say -- by the looks very very eerily similar to what are the top U."

" Well they say that it's the purest form of flattery I think there's they're seeing what's going on obviously. And I think they want to add functionality to their site they want to go where the you know where the action is so -- there's probably a little bit back on."

" Testing of functionality what's on the horizon for Twitter and I know you can put. A -- pick up you can upload a picture that your guy could take a picture here upload affect them going to do that later in the show. What else what are the other applications that that entire and its Woodard make it more robust."

" Well there's a lot applications coming every day they're. -- is building something of an ecosystem where. It's open application developers are free to develop maps on top of the platform. The Twitter. Home page itself is about to change. You know they've. They said publicly how search is going to be a bigger elements of it real time search does not too many places where you can get instantaneous access to information. Like you can't on Twitter so. You're going to see more search capability on the home page and in overall throughout the site."

" I ever got Todd Davis -- take your pictures are right here I'm going to learn. -- pick it up and posted to my Twitter account twitter.com forward slash Eric -- knows bassist Todd Davis thank you very much that they should joining us. --"

Street Meat: G-20 Important?

2009-03-31T14:19:00.000-04:00

" I can't we just treat hot sizzling -- beef chop and you don't G twenty white -- one important industry. Nineteen countries -- the European. Union representing 90% of the world's GDP 66% of the world's population. All lot represented their -- their past eight coordinated. Response. Here is there any issue over how much money versus how much regulation and here's their problem of back push it's a populist. Backlash against spending any more money you -- body here sometimes and -- a blocked number till Denny's what's important -- things as we. Today they rallied very strong financials like to take on the heels of G twenty that may be over inflated. Take out one out. Mark to market April 2 that means we're going to hear from the get nasty weather outlook is they would mark to market which tells you basically exactly what these assets are worth. Not be opening number of mark to model mark to -- believe that stuff I suggest they stay with exactly what they have. Bank of America disappoint they still don't get all the doing his -- raise salaries dropping bonus. They still say they're guys too much money -- that chart fallen look at -- three month chart of peace and has and great stock I've only in the past I'd won a little bit more today you guys check it out nice little -- rounding the bottom of for a ten dollar price tag on pension. Last but not least you can't make this stuff out. White House wheels what are they driving. Politico dot before whatever city you guys sure they say yeah we're sure check this -- two point three vehicles in the White House parking lot. Eighteen were born only five. Or domestic these the guys who make decision on what auto industry should look like. Energies are standing -- doesn't drive next interest in right next last at least I swear to you this is true. Tim Geithner what does -- drive. Like who drives an Acura unbelievable right Larry Summers -- Peter Orszag of Volvo had a Honda. -- you have -- here's what I need to know Steven Ratner the energy cars are I need someone to Twitter be with a picture of what he's driving Twitter. Eric Bolling a space between aren't."

Bear Sterns: One Year Later

2009-03-17T14:21:00.000-04:00

" That's collapsing a year ago setting off. The financial firestorm that eventually brought present Obama into office our next guest. Donated generously to democratic candidates including the president last year. Let's find out if he's happy with mr. Obama's performance buffs are joining us now and these -- good -- he runs the hybrids capital which provides seed money to hedge funds. You -- are critical for Goldman Sachs and Lehman Brothers. So what about it."

" But some of them do and he looked me up on Gould reports showed up afraid solely on the oldest upload your life full disclosure I with the law school with the president. -- a couple of years behind me in law school I knew back -- I like him I think he's a terrific guide. I don't share his politics a 100% -- more right of center person economically. I think Cody and -- at a bar alone together we get a an agreement on most economic issues but the president is a good man he's doing things. In the best possible way he can which is measured. And aggressive for the problem you have to remember. That we learned something from the Great Depression all of us did none of us were around when it happened. But this is -- once and an eighty year calamity what we're experiencing right now what do we learn from the depression Ben Bernanke said at last Sunday on sixty minutes. We have to be aggressive. We have to be pro active and we have to protect. Banks. And the consumer who has deposits in these banks who get. And so -- the shareholders at all that's the premise that I have the biggest problem -- lost for shareholders protect the depositors okay Cody they're trying to attract private capital back into the banking industry. The biggest private capital command if they would wash out the sheriff I I I understand that but they already went down another path that they you have to remember the Bush Administration. Enacted to tap the talk programmer at least point to the congress with a TARP program you're a situation now where you've started down a road okay. And we can't wipe out the last six or seven months ago I remember back to September the fifteenth where people go back in history and say. That was a demarcation day of this crisis that was the twenty ninth of October 1929. We saw the death of Lehman Brothers we saw widespread panic in the markets. We saw a global panic it I was in Sydney Australia the day Lehman Brothers. -- movie there was panic is Sydney Australia as a true that was around the world. Put yourself in the seat the secretary of treasury. The Federal Reserve banking chairman and the president of the United States you're watching the markets melt down the -- you learn something from history. Bernanke road eight. -- thesis. On of the pressure. Now you're probably argue they should've let the free markets go and let these guys go watch out the shareholders and from the and frees up the system. But the minute they let Lehman Brothers fail. Everybody went to the sidelines and you said something variously early sixties we don't know what the rules are anymore. Yeah that's something I agree with the -- the government has a yacht a job as a blue and white Jersey with a whistle. Let me stop you fillets before you go there you said what we started down this road -- back in October. Why don't we have to continue down a path of spending when we may not need to that that make any sense okay Eric that's not my point. My point is. We made a decision rightly or wrongly to give out the -- money but -- we made a decision to try to keep these guys in business again and on saying about that. They said if we stay the course. You're going to see more lending and you can see in traction a private equity backing these markets OK that's the quickest road to recovery from here. If you want to go in reverse right now and bankrupt Goldman Sachs bankrupt Morgan Stanley as I do -- how much we know what's. But that's another nice -- insolvent without more welfare but that's the issue that's oversight we can keep up my right that's that's anger we need rational discourse right now please don't be offended by this Buffett said a couple of weeks ago this is an economic Pearl Harbor. It may not be an economic Pearl -- it actually may be a civil war. And could be an economic -- can work."

" So AIG yeah. It's related to receive another thirty. Billion dollars I mean with given everything that's happened with AIG should they get them back they're they're trying to clear these contracts out should they get that money should get the money as you are -- people out there to give eight -- flying another thirty billion how much money hardly -- actionable. Going to get directly about the -- as -- as far I asked some hot when I come up to me they asked. What do you guys doing."

" Okay but you have that you're going to run the danger that we ran in the Great Depression of an uprising of populism the -- The great congressman or senator you -- long you have forty wanted to do. We wanted to give everybody twice 500 bucks and he wanted to get my house sounds like Obama okay sounds like Bernanke of okay I don't think that's their game plan. Okay I think I think the -- Obama is a progressive. Bernanke is an economic historian of its hard not to like the guy okay. Now they they gave a little bit of a puff piece on sixty minutes please -- home -- middle class guy. With middle class values flying to help the country."

" Anthony Wright have you back to talk more about this because quite the viewers out there I -- I probably all of us as well I want to say -- the viewers I'm I'm I'm calling for rational discourse in this debate."

" I'm calling for a progressive isn't okay and I'm calling for his soothing of the anger. Okay so that we can get to the root of the problem and I'll leave you want -- thirty billion."

" Every -- funny you have we."

" We were talking about contract -- outlived the thirty -- can get my satellite contract professor we were talking about contract law one of these data. Heinemann okay think that's really what it -- a day -- and thank you guys are having sky bridge cap."

Street Meat: Russian Out

2009-02-18T14:22:00.000-05:00

" Eric please just right here next to me I think me I can't tell you. -- topic Rebecca hot sizzling segment on TV right here right now we're going to talk about those wind turbines in a minute. By the way guys if you visit here go to fox business dot com you can check this out street meets up every single night in the first of first street. Russian outfit rushing out. But it just won't -- Russia right now Russia's on the birth of the depression they're clearly in a recession on the verge of the precious white industrial production. Down big time numbered about yesterday also. Oil prices down any question about Russia being tied to oil price will get to in this decade the ruble. Very very important Russian ruble down 37%. In the last five months that currencies that currency knees strong currency especially oil prices going down. -- low currency. Low oil prices turned. Big big trouble they need to rebounded oil not all they need -- well here's the simple -- VIP it's -- years the stock wanted to play Russia played simple com it's a Telecom company in Russia but guess what guys check this out Telecom and Russian down big time next arena put up for a reason next week. Here's your oil chart. Sane -- what is. But Telecom and do with oil in Russia everything is based on oil where's the play. When oil turns around you can start picking and choosing your Russian stocks and make a lot of money number one VIP when oil goes VIP is short of follow. What do played on T -- level bigger picture macro picture. EE and emerging markets need to get we'll give you a lot of Russia -- less rate -- here we go gold guess what. 980 predict and I need to have a -- easy to -- today involved were watching that 1000. 35 dollar all time high in -- keep your -- and all these stocks were worried she'll be there as well -- these -- upon these. I hear about this guy yesterday old news forget about let's move on -- all break -- got. Rebecca just talking about wind turbines GE's only profitable division I shouldn't say only. The most profitable. Profitable division is debt we -- interpreted generation. The power generation that's the only thing here's my suggestion he listened. I'm tired beaten up by you guys call me to cut crafts up enough money. -- Break up in the financial services breaking up into NBC and break it up into your properly maybe he'll be able to sell some of the parts are people out there who might want -- that street."

Golden Years

2009-02-09T14:23:00.000-05:00

" Article that might ever wrote in -- had to do with gold and what we that we and we shot the beginning of the show. It at eighty -- gold that same weekend for the -- trading week got that -- was writing this article on December 1997. Bringing back all that in 1997. Gold is now up 559. Dollar from that point more than a 150%. If you bought the S&P 500. That same time -- actually invested in stock that they may be an index S&P 500."

" They went okay 1000870. Right as we speak -- break -- so -- ten to 1500% of."

" Yeah -- yeah just. But commodities in general it will run in the same -- a lot of the gold. Rally a lot of the oil rally has been in of this flow of money in and out of my estimate of victimized and the bigger portion of the ninety's -- On their ear I mean if you invested throughout the ninety's he got out during the -- she's probably lost money if you invested during the ninety's and -- held. You're doing fantastically so. Oil had its moment gold has had a couple of moments I'm always always always long gold -- the -- system."

" Portion my powerful little let me play on out of Minnesota they're great that greatly -- because he's that a -- portfolios you know long ball because this goes to a question from Robert this is. You know after the fall in 1929 many people with money Bob -- are invested in gold mining. What is the best play after this fall do you think it's pure oil right."

" It calls a great question as Robert great question what happens is typically when gold is good when the price of gold is going higher. The mining stocks lagged that the commodity price for some reason -- a lot of things going on a mining does electricity costs there's geopolitics we will give you your basement pulling. Goal eleven months in foreign countries that may have geopolitical problems. When this when the when the commodity price goes which ultimately drives the equity price you'd be better off in NE TF she'll be what they're -- tips -- their majorities the biggest and and -- it's it's definitely the one I would I would recommend getting into. That's going to perform better than the mining stocks."

" Art let's should go butler told -- oil barons and -- only if fox business on the first ever fox this is Docomo Keyaron Fox as a dot com. And we're getting a lot of comments -- getting action on our comments which is ready to -- your screen you can click on comments and some comments coming in specifically for Eric and Mike feel free to jump in his battle oil. For Eric Peter wants to know what's going to take for all the break out of the forty to fifty dollar trading range where are we right now oil at 41 herself."

" 41 so it's it's been as high as 42 to -- 4050 -- really in the Vietnam and that's moving down we've we've touched the for the 42 dollar print earlier today what's happening is right now that for some reason the view oil market is is. Let's put this way it was a crowded -- a lot of people investing in oil because -- run up -- 147 dollars -- it over truck shot on the way up. In my opinion it's overshooting on the way down we should never seen a 33 dollar barrel of oil was seeing a forty. -- changed all of barrel I think if the economy does start showing signs of a heart -- yeah you're gonna sit fifty dollars fairly easily in my prediction sometime built by the -- you can see eighty."

" Maybe an 85 dollar a barrel near 85 there India right. I think -- curling hotter and I think you make the argument that given the that the data -- of how week it is and how much how much oil sloshing around. You know -- forties actually shows and -- okay. And in fact I think a lot of commodities better records showing this sort of --"

" I think it -- you -- you may not in the hate me for this but here's a charter natural gas where you see this chart this will be -- test here. Adjustment that I demographic this is about this is about six months chart okay so it's gone from. You know and you should decide here is up almost fourteen dollars for him and be TO in trading for right now cesium massive slide. In natural gas medicine as well just quirky. Because natural gas produced here in the US and used here in the US is no problem he can't. I mean technically you can bring some would provide natural gas and but in essence it's really a US commodity we've had some massively. Next week cold weather this January this past January I think eventually that's been true work its way through the system UC high natural gas prices were."

Eric Bolling Reveals His Infrastructure Stock Picks

2009-01-29T14:15:00.001-05:00

Eric Bolling loves the infrastructure sector, and thinks this is a good time to jump into the sector as long as the stock picks are selected carefully.

The co-anchor of FOX Business’s Happy Hour show, who has been an active trader of equities, commodities and more for years, recently shared his thoughts on how to invest in infrastructure, declaring that a downturn in the sector over the last seven months “is an opportunity to buy into the infrastructure play at a low price.”

His enthusiasm doesn’t come from the stimulus package now going through the U.S. Congress -- “it doesn’t hurt, but I don’t hang my hat on” a $1 trillion plan -- but rather the global growth story coming out of places such as China, India and Latin America.

Bolling recommends companies with a global presence, and suggests avoiding companies with big debts, credit arms or those that “aren’t reacting well” in the market. He says the best way to get into the sector is to build a position slowly.

Bolling’s infrastructure stock picks are:

Companhia Vale do Rio Doce ADRs (RIO: 14.52, -0.364, -2.45%)

“This is probably my all-time favorite stock” Bolling said of the Brazilian metals and mining company, noting that it’s “the most global” of the miners.

FMC Corp. (FMC: 45.43, -1.39, -2.97%)

FMC is a leading producer of lithium. Bolling likes it because the lithium goes into batteries for all sorts of devices and other things that power the world.

Chevron (CVX: 68.22, -1.62, -2.32%)

Chevron is “by far my favorite energy play,” Bolling said, noting that the company has a high share of the West Coast energy market, which has high margins.

Google (GOOG: 357.92, -9.95, -2.7%)

“This is the Mac Daddy” in the Internet space, Bolling said. “It’s the leader, the innovator -- the one to own.”

Fluor (FLR: 37.06, -1.7, -4.39%)

Fluor, which serves companies globally in a number of industries, is “a great global engineer,” Bolling said.

Jacobs Engineering (JEC: 40.83, -1.93, -4.51%)

Bolling thinks this company is another good bet among engineering firms.

US Steel (X: 23.5975, -1.5725, -6.25%)

This is “my sleeper,” Bolling said. He mentioned that it traded at nearly $200 over the summer, and “at $33 a share I think it’s a bargain.”

Bolling’s infrastructure stock pans are:

General Electric (GE: 10.675, -0.475, -4.26%)

GE may be an infrastructure play, but the fact that its credit unit is such a big part of the company means it should be avoided for now, Bolling said.

Caterpillar (CAT: 29.63, -1.64, -5.24%)

Caterpillar’s stock “is reacting poorly in an environment where you’d think it would be doing well” and is at five-year lows, Bolling noted. “If it’s not acting well, don’t own it.”

The Gold and Platinum Connection

2009-01-12T11:35:00.001-05:00

From thestreet.com 1/12/08

I started trading commodities in 1987. I became a member of the New York Mercantile Exchange that year and focused most of my attention on crude oil. Since I spent the day in the crude oil pit, I tended to trade mostly crude and the energy-related commodities. During the trading day the audible volume varied but for the most part it was almost impossible to hear anything outside the pit.
On occasion, you would hear a swell of volume slowly build to a roar coming from another pit. Many times, it was the result of a refinery fire and the subsequent gasoline pit explosion (pun intended). Or if the daily weather report showed a dramatic surprise change in the 6-10, you might hear the distillate pit volume pick up.
Back then, the Commodity Exchange was an independent exchange trading primarily metals located in the northwest quadrant of the massive 4 World Trade Center trading facility. Nymex occupied the southwest, the Coffee, Sugar and Cocoa Exchange was in the southeast, and the Cotton Exchange was in the remaining northeast quad.
Those were the glory days of commodity trading in New York. Four exchanges trading hundreds of commodities from a shared trading facility. The trading was aggressive with so many traders on one floor, and those traders sharing one set of men's room facilities (99% of floor traders were men, a result of the very physical/violent pits). The cafeteria was dangerous. Fights broke out in the lunchroom, in hallways and I even saw one start in an elevator. The fight finished as the two dudes rolled out into the lobby. I swear this is all true. ....
Rest Of Article

Commodity Opportunities Abound

2009-01-05T10:36:00.001-05:00

From thestreet.com 1/05/09

One of the things that keeps me sane in the really hectic, crazy world I have carved out for myself is frequent treks to the beach. Once there a daily run is absolute happiness for me. Ending a tough 2008 (there seems to be no better way to describe the year than just plain "tough") and launching into a hopeful 2009 I was able to get out for seven runs in six days. Believe me, I am grateful for the ability to do this all thanks to a wonderful career trading. If you don't know my past, you may be thinking that I am being pretentious by talking about my time on the beach. But it wasn't always this way for me. went from a runner in the soybean pit during Chicago summers to the energy pits of New York. Early on, I recall thinking how cool it would be to be a trader. Those dreams were squashed when I realized that it would be a near impossibility given the fact that it required a $50,000 balance to trade. With no money in the bank (or family), and my $150 salary a week, it would be like climbing Mount Everest to ever get that trading badge.
Back to the run. On one outing, my 10-year old son decided to run with me. On the way, we passed a cemetery and this started an interesting conversation between us. "Dad, why do people die?" he asked, along with many other inquisitive questions. He then asked me why God doesn't just drop money down from heaven so that everyone could buy anything they wanted? "And what about starving children?" It was getting heavy, but I did my best to explain. ....
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A Letter to Detroit

2008-12-07T10:48:00.002-05:00

From thestreet.com

Dear Messrs. Mulally, Nardelli, Wagoner and Gettelfinger:
The popular reality program "The Biggest Loser" pits obese people against each other in a competition to see who can lose the most weight. Sound familiar? You, Detroit's Big Three automakers, are obese companies that need to drop the excesses weighing you down. You can't compete with foreign auto companies doing business in the U.S. and abroad. Each of you has an issue that should infuriate every taxpayer. On top of that, the United Auto Workers, the union representing your employees, has only exacerbated your problems.
Ford(F Quote - Cramer on F - Stock Picks)
Mr. Mulally, as Ford's CEO you are asking for a $9 billion line of credit ... "just in case." You have testified under oath that you really don't need that money but want it just in case one of the other automakers goes belly up. That would help your business sell more cars, right? With all due respect, good-bye. No money for you! ..........
Rest of Article....

The Stages of Grief

2008-11-24T11:29:00.000-05:00

From thestreet.com 11/24/08

I spend a good amount of the trading day talking to people from all walks of trading life. On Thursday I had a profound conversation with a guy I had never spoken to before. The conference call was the result of a heated conversation I was having with a money manager regarding Citigroup(C Quote - Cramer on C - Stock Picks). I was fuming about how the shorts were crushing the stock. It felt like it was Lehman, American International Group(AIG Quote - Cramer on AIG - Stock Picks), Fannie Mae(FNM Quote - Cramer on FNM - Stock Picks), and Freddie Mac (FRE Quote - Cramer on FRE - Stock Picks) all over again. It felt like the market was going to zero. I was really worked up. My friend interrupted me and suggested I hold on while he put another trader on the conference call. "Paul" (not his real name) also was worked up about how the markets were acting so irrationally. During our conversation, he uttered a thought in passing, "This feels almost like someone is dying." ....
Rest of Article

Obamanomically Correct

2008-11-10T11:32:00.000-05:00

From thestreet.com 11/10/08

am very thankful for this column. It has provided me a platform to sound off on a wide range of topics: the dollar, OPEC, drilling, interest rates, real estate, the bailout package, gold, volatility, stocks, bonds, and of course, politics. Now that the election is over, I can focus in on the economy and the markets again. I will be forever changed in that I have found a new passion for the political process. I have been given a great opportunity to host a daily show on Foxnews.com called "The Strategy Room" and we throw around topics that affect everyone.
I mention "The Strategy Room" because it is intended to be a political forum. During my months as host, I have realized that the economy is front and center on the minds of just about all of the emailers to the show. They are worried about their investments, their homes and their jobs. ......
Rest Of Article

Looking Ahead With Hope and Trepidation

2008-11-03T15:48:00.002-05:00

From thestreet.com 11/3/2008

One day left until we find out who will occupy the White House for the next four years. Whoever it is, he will inherit a mess. Campaign promises will have to addressed before they're discarded. The rescue/bailout has to be implemented, and more important, paid for. And there will be pressure from all around to re-regulate the markets. Most of this will likely take many quarters to sort out, so I anticipate volatility in the markets early on. My hunch is that government will grow in size and grow in scrutiny as it prints itself trillions of dollars to work with. Over time, analysts will simply take it for granted that big government is here to stay.
The volatility in the markets will eventually give way to steadying yet directionless markets. September is known as the weakest month for the S&P, and it did not disappoint, with futures opening the month at 1282 and closing at 1169, a loss of 8%. .....
Rest Of Article

Tax Plan To Jumpstart The Economy ?

2008-10-29T23:38:00.001-04:00

Global Markets Reaction To Wall St

2008-10-29T23:35:00.001-04:00

New Music Format Debuts

2008-10-29T23:34:00.000-04:00

The Killer 'C's'

2008-10-20T11:24:00.002-04:00

From thestreet.com 10/20/08

I was doing my regular Saturday morning television show "Bulls & Bears" on Fox. The topic was taxes and I was trying to explain why I disliked presidential candidate Sen. Barack Obama's "spread the wealth around" comment to Joe the Plumber. A friend and professor at Temple University, Marc Lamont Hill, joined us to defend the democrat's side of the issue. The discussion came back around to me and an analogy popped into my mind. I said, "Marc, let me see if I can put this in terms you can relate to. Being a professor, how would your students feel if you decided to implement the following -- all the hard working, late-night studying, social-life sacrificing 'A' students had to give the bottom dwelling 'D' students some of their high scores? The 'D's' would come up to 'C's' and the 'A's' would come down to 'C's.' You would be removing the incentive to work hard, succeed and get rewarded." ....
Rest Of Article

Central Banks Should Go Long

2008-10-14T15:29:00.002-04:00

From thestreet.com 10/13/08
I have spent 12 hours a day and most weekends engulfed in thought and opinion surrounding this current financial crisis. I have listened to and interviewed economists, congressmen and congresswomen, senators, administrators, regulators and CEOs. There is only one conclusion I can come to. It is clear that nothing is clear ... to anyone . There has been enough finger-pointing to fill a century of political opinion. Banks blame lenders, lenders blame regulators, regulators blame politicians, and politicians, being the carnivores they are, blame each other.
It has gotten to the point where, if I am interviewing someone and he or she starts the interview with a line about how we got here, I stop them mid-thought and ask, "We all have our own ideas about how we got here, now... can you offer any help going forward?"....
Rest of Article

Nowhere to Run

2008-10-06T11:38:00.001-04:00

From thestreet.com 10/6/08

"Is everything going to be OK, Dad?"My son asks me this question on the ride back from the beach Sunday afternoon. While listening to Bloomberg radio for the entire two-hour drive yesterday, I had no idea he was paying attention to the commentator and expert guests. He is 10 years old, for heaven's sake. Why should he have to worry about our economic future?
Well, it wasn't easy trying to explain how we got where we are. And it wasn't easy trying to convince him that things will be OKafter hearing that European regulators are doing whatever they can to help avert a financial meltdown there. But I tried.
I explained that things will get uglier before they get better. But the sun does eventually shine after prolonged rain storms. And it will shine here as well. "America will be ok, buddy."
Rest Of Article

A House of Cards on Solid Ground

2008-09-29T10:01:00.000-04:00

From thestreet.com 9/29/08

I have watched, listened to and spoken to more senators and representatives in the last two weeks than I care to. The fact that they are all willing to get on TV and tell us why they think we desperately need a $700 billion bailout, or why we need it somewhat, or why the plan is ridiculous tells me that they know less than you or me.
The way I understand this is that the loose lending practices over the better part of the last 20 years or so is the foundation for a disastrous house of cards. Congress, the Fed and various administrations' acceptance of the "affordable housing" push was the first floor. There is plenty of blame to go around, but without this basic premise, the subprime lending boom-turned-explosion couldn't have taken place. Fannie (FNM Quote - Cramer on FNM - Stock Picks) and Freddie (FRE Quote - Cramer on FRE - Stock Picks) were encouraged to lend more and therefore generate more fees. ....
Rest of Article

Treacherous Times

2008-09-29T09:58:00.001-04:00

Stay Calm Amid the Chaos

2008-09-21T14:27:00.001-04:00

From thestreet.com 9/21/08

The upheaval in the financial markets in recent days has been treacherous. The 4% swings of multi-trillion dollar markets is both unprecedented and unsettling. But we have to take some solace in the fact that the indices ended this past week virtually unchanged, thanks to a lot of help from the Federal Reserve, the Treasury, the White House and even Congress.

You know all the numbers: the $700 billion Treasury wants to use to rescue our financial system by buying bad mortgage-related debt, the $85 billion loan to AIG, etc.

Of all the week's events, Tuesday morning stands out most in my mind. With AIG(AIG Quote - Cramer on AIG - Stock Picks) on the verge, I called my friend and broker Bobby at UBS(UBS Quote - Cramer on UBS - Stock Picks). I asked him how UBS stood given the fact that over the last few days, one investment bank after the other had been targeted by aggressive short-sellers. He said his firm was in very good shape. My concern was that after the shorts were through with all the U.S. banks holding mortgage derivatives, they would turn to the international banks with similar exposure. I instructed Bobby to but the full value of my portfolio in Treasury bills. He said the rates were really low and I instructed him to do it anyway. I was worried that my 23 years of blood, sweat and many tears would get swallowed by short-sellers smelling blood. I have no issue with legal short selling; I just did not want my portfolio to be chum for their very successful campaign.

Turns out Hank Paulson saw the same thing I did and headed it off before the impending run on the banking system was able to take hold.
I applaud those actions and those only. I am a free market advocate and have a hard time justifying some recent Fed and Treasury actions, but the protection of our deposited money in the various money market funds was brilliant. It differentiates the Wall Street risk from Main Street fallout. I agree that most on Main Street could care less if Lehman bankers are out on the street looking for work. I agree with them: That's the nature of risk and working for a company dealing in risk as its business model.
But when Mom and Pop on the corner of Main and Elm are worried about their cash deposited in the bank, we come face to face with the possibility of a a run on the banking system. We all lose in a run on the bank. Wall Street freezes and Main Street panics. The scary thing is that the panic would be justified as no one knows what ends a run on the modern bank. I certainly don't and haven't heard anything out of the government regulators and lawmakers that addresses a run on the banking system. So I bought 3-month T-bills for almost no yield. 80 basis points! I did not care that I would be getting three times that amount in normal times. Last week was not normal. I have no gut feeling what the next few months will bring. As my pal Dennis Gartman would say, if you put a gun to my head to guess what is next, I would choose "just pull the trigger" option. Its the safest!
My bottom line here is to keep calm, be nimble and this is not the time to take risks that haven't been fully vetted. I have reduced my exposure across the board, moved cash into T-bills and am waiting for a more clear sign of stability before putting more money to work.
As an update, I am long Goldman Sachs(GS Quote - Cramer on GS - Stock Picks), Toll Brothers(TOL Quote - Cramer on TOL - Stock Picks), Hovnanian(HOV Quote - Cramer on HOV - Stock Picks), CME(CME Quote - Cramer on CME - Stock Picks), the dollar index, gold, Exxon Mobil(XOM Quote - Cramer on XOM - Stock Picks), Devon Energy(DVN Quote - Cramer on DVN - Stock Picks), Chesapeake Energy(CHK Quote - Cramer on CHK - Stock Picks) and Chevron(CVX Quote - Cramer on CVX - Stock Picks). I am also looking for an entry point into natural gas futures. I haven't added new positions and am playing very close to the vest right now.
This means more now than any other time I have written it:Trade with your head and not over it!

Quick Shots

2008-09-16T12:14:00.000-04:00

Saudis Going Beyond Oil

2008-09-16T12:12:00.000-04:00

Saudi Prince On Economic Diversification

2008-09-16T12:02:00.001-04:00

Ike Spikes Gas Prices

2008-09-13T11:51:00.001-04:00

Watch for a Builder Rebound

2008-09-08T11:10:00.001-04:00

From thestreet.com 9/8/08

When I heard that Treasury Secretary Henry Paulson, Fed Chairman Ben Bernanke and the two CEOs of Fannie Mae (FNM - Cramer's Take - Stockpickr) and Freddie Mac (FRE - Cramer's Take - Stockpickr) were meeting this weekend to discuss a rescue package for the mortgage-financing giants, I wasn't sure how the market would react.
That is until I heard Pimco's Bill Gross talk about the way the feds might backstop the two. He would be the guy to listen to with regard to where money and influence might be applied. His assessment was right on, and the market is certainly applauding the outcome. As you are no doubt aware by now, the U.S. government will take over Fannie and Freddie under a conservatorship plan and receive senior preferred stock. This investment implies the full support of the U.S. government and should strengthen our housing market's shaky legs. .......
Rest Of Article

Avoid Urge to Get 'Even'

2008-09-03T23:52:00.001-04:00

From thestreet.com 9/3/08

If the first day of trading is any guide, September is proving to be as volatile as the last few months. My friend Mike Santoli at Barron's recently noted that the recent market moves can partially be explained by a simple notion: Investors burned by the market are trading bigger and bigger in order to "get back to even."

This makes a lot of sense. I remember a day when naturalgas prices were falling. I had been bullish in the morning -- and right -- as the early trade was higher. But as the day progressed, a weather pattern changed and the sellers took over.

I foolishly decided to defend my position. (That's a very bad idea, as no one is bigger than the market -- a golden rule to successful traders). As prices tumbled, I added to my long positions, assuming that I would need only a small bump up in price to "get back to even."

The price continued to fall, and I continued to add, still only needing a small turn north in price and I could get "back to even."......

Rest Of Article

Now, Let the Games Begin

2008-08-25T12:16:00.001-04:00

From thestreet.com 8/25/08

The 2008 Olympics are in the books. The U.S. won the most medals and China won the most Gold. Now it's time for the real games to begin.
The Democratic National Convention (DNC) kicks off this week, to be followed by the Republican National Convention (RNC) next week. The gamesmanship will far surpass that of the last two weeks in Beijing.
The Democrats will likely spend the week talking policy: the economy, energy, taxes, spending, trade and everything else that matters to them. Then they will presumably nominate Senator Barack Obama as their candidate with Senator Joe Biden at his side.
The GOP with go through the same drill and nominate Senator John McCain and whomever he chooses as a running mate......
Rest Of Article

Mark Spitz On The Olympic Record

2008-08-21T11:53:00.000-04:00

CME Chairman Duffy On Takeover Deal

2008-08-20T11:58:00.001-04:00

The Benefits of Trading

2008-08-19T11:02:00.000-04:00

From thestreet.com 8/19/08

While discussing the market's trials and tribulations with folks at a party this weekend, some interesting observations arose.
One guy who is in fixed income seemed to be the most talkative. Although he has always made a good living, his phone seldom rang, even in a very busy major brokerage office. It was the equities guys rocking and rolling for years.
Now as equities have become shaky investments, his fixed-income desk is in big demand. Fixed income represents safety and a hint of return, he said. We laughed at the rates seen in Treasuries, the fed funds rates and inflation. And we chatted a bit about the relationship between inflation and fixed-income returns.
Another guy spent his days in structured products. He told me that they were busy creating products -- anything that would pull people out of cash. He mentioned a bizarre structured product called a Barrier Note. It appears to be a structured investment that plays out like this: ...
Rest of Article

Traders Must Go by Intuition

2008-08-13T10:16:00.002-04:00

From thestreet.com 8/13/08

Last Sunday, during a ritual morning run, I remember feeling a hint of a breeze that seemed more emphatic than usual. It wasn't obvious, but it was enough to elicit my brain to think, "Hey, maybe there is a change in the weather coming."
When I returned from the run, my neighbor mentioned that she thought the weather was turning; she could "feel it." We intuitively spot slight changes in the weather, consciously or not.
In a column that I wrote on June 11, I talked about a trader's intuition about trading activity in stocks of agricultural companies. Until that day, these stocks had been on a tear.
Shares of Potash (POT - Cramer's Take - Stockpickr) had surged from $105 in January to $229 that day. Bunge sat at $122, Monsanto was trading $140 and Deere topped out at $82 per share........
Rest of Article

Maxwell, O' Hanlon on Georgia Conflict

2008-08-13T10:04:00.001-04:00

Nothing Lucky About Rally

2008-08-12T11:54:00.003-04:00

From thestreet.com 8/11/08

Eight seems to be the magic number.
In Chinese numerology, recurring numbers represent luck, and 8/8/08 was thought to be the luckiest day. Three eights were the perfect day to launch the Olympics. However, that day the luck was flowing here in our equity markets rather than in Beijing where the numerologists reside.
Think about this for a minute. If someone told you that there was a brand new conflict between Russia, a big oil producer with 200 million residents, and its small (population 4.5 million) border neighbor Georgia, and if you heard that Russian tanks were rolling and casualties were mounting, what would you guess the reaction would be in the oil market? Up $5? $10?

Rest Of Article

Big Blue Moving, Grooving

2008-08-06T15:42:00.002-04:00

From thestreet.com 8/6/08

At the end of the trading day, I usually spend a few minutes paging through stock and commodity charts. Occasionally, something jumps out at me. Yesterday I was scanning the usual suspects: Goldman(GS - Cramer's Take - Stockpickr), Chevron(CVX - Cramer's Take - Stockpickr), Apple (AAPL - Cramer's Take - Stockpickr), Research In Motion (RIMM - Cramer's Take - Stockpickr), steel, Chesapeake Energy(CHK - Cramer's Take - Stockpickr), oil, gold, dollar, corn, International Business Machines(IBM - Cramer's Take - Stockpickr), Morgan Stanley (MS - Cramer's Take - Stockpickr), Norfolk Southern(NSC - Cramer's Take - Stockpickr) ... wait a minute, go back ... IBM.
I know the green flags were waving all day in tech of all forms -- consumer tech, big-cap tech, semis and Internet infrastructure. Techs started strong and stayed strong all day. IBM is one of the little talked-about tech stocks lately that have been doing quite well. It is up about 19% year to date and has held up in the face of some really choppy markets recently.
Rest Of Article

All Aboard the Rails Trade

2008-08-04T15:39:00.000-04:00

From thestreet.com 8/4/08

Don't miss your train, it's departing.
After many attempts, Gold finally hit a record last week in London. It was a result of frenetic buying coming from everywhere. There was big buying in the U.S. and Europe, surprising even some longtime fans of Gold. You know, I have loved and recommended gold for years. This time the world brought Gold to a record that surprised some but not me.
This week, I talked on Fox's Bulls & Bears TV show about a trade that makes a ton of sense to me. With the recent high cost of fuel, the railroads have become the shipping method of choice. It has been a favorite space of Warren Buffett. He has amassed an 18% stake in Burlington Northern(BNI - Cramer's Take - Stockpickr).
One of the main reasons the rails are prospering now is because diesel fuel has risen faster than oil, gasoline and jet fuel. The national average diesel price topped out recently at $4.85 a gallon, up a whopping 67% vs. last year. It still sits at $4.68 per gallon today. .........
Rest Of Article

Quick Shots

2008-08-01T14:20:00.001-04:00

Playing the Mexican Peso

2008-07-30T11:15:00.002-04:00

From thestreet.com 7/30/08

In traditional tortilla-making, corn or maize is cured in lime-infused water. The lime juice releases the skin of the corn from the kernel and also liberates the vitamin niacin and the amino acid tryptophan.
The cured kernels are then ground and rolled or pressed into thin cakes and cooked at a high temperature. The resulting tortilla emerges as a low-fat, low-sodium food, packing calcium, potassium and fiber.
Quietly, the corn tortilla has surpassed bagels and muffins to become the No. 2 packaged bread product here in America, second only to sliced bread. Tortillas and their byproduct tortilla chips and taco shells have quickly become a $6 billion per year industry here in the U.S.
One of the little reported byproducts from the skyrocketing grain prices was the massive weight they inflicted on the Mexican and Central American economies. In case you didn't know, corn is the mainstay of the Mexican diet. Corn tortillas are the staple of the food chain in Mexico. Corn and maize are used in various forms of tortilla production. What bread is to the American consumer, corn is to Mexican and Central American consumers. ................
Rest of Article

Time to Cover Integrated Oil Shorts

2008-07-28T11:46:00.003-04:00

From thestreet.com 7/28/08

A month and a half ago, I wrote about an interesting "tell" that I was getting from the oil markets. I say market(s) because I noticed a distinct diversion that day. Oil prices had just exploded.
The prior Thursday and Friday (June 5-6), oil ran up $17 a barrel. I have been trading commodities for 22 years, and I can say I have seen many things, but never anything like that before.
So with oil trading up massively those two days, I was expecting oil companies to show some real upside on the following Monday. The "tell" for me came when the energy sector was one of the weakest during this run-up in its primary product. ....
Rest of Article

Be a Trader, Not a Gambler

2008-07-23T12:11:00.002-04:00

From thestreet.com 7/23/08

I remember a trade I almost made six years ago like it was yesterday. It was winter 2002 and the weather was absolutely freezing. Gas was ripping higher and I was bullish -- I was long 100 April $7 calls in natural gas.
I remember the day the calls went a full dollar in the money. I was up a cool $1 million on the trade. I will never forget the next conversation I had. I went to sell the calls and the guy holding the bid backed off a touch. He backed off by a small amount, but enough to tick me off.
The trade was still massively profitable, but I let this guy get into my head. I thought: "Fine ... but you will be sorry, this market is going higher." It didn't. Instead of hitting the next best bid to get out, I got stubborn.
I was no longer trading, I began to hope. I was trying so hard to be right, to show this guy (whom I would probably never see again) that I was right. I left the position on............
Rest of Article

Iran Talks Can Help

2008-07-21T11:36:00.002-04:00

From thestreet.com 7/21/08

Well, did you think Iran was just going to shut down its nuclear program?
I have been closely watching the Undersecretary of State William Burns and the results of his historic meeting yesterday in Geneva with the Saeed Jalili, Iran's top nuclear negotiator.
Don't get me wrong. It is definitely a step in the right direction to send a U.S. diplomat to the bargaining table with Iran. The purpose was to negotiate with the Iranians regarding their uranium enrichment program.
I think the meeting was largely symbolic, however. The U.S. sent Burns, Condoleeza Rice's undersecretary, to the meeting for a single day. And he was sent with demands that Iran has already rejected from much more influential diplomats.
However, I am very happy we sent him. I think the message Burns carried to Geneva was actually a message being sent to a place near Iran, but not on the Persian Gulf. I believe it was a message sent to Tehran, but meant for Jerusalem...........
Rest of Article

It's Not So Bad Out There

2008-07-16T11:18:00.003-04:00

From thestreet.com 7/16/08

To my mind, things not as bad as everyone seems to think.
Alcoa(AA - Cramer's Take - Stockpickr) and General Electric(GE - Cramer's Take - Stockpickr) beat analysts' estimates. And Intel(INTC - Cramer's Take - Stockpickr), Altera(ALTR - Cramer's Take - Stockpickr) and Wells Fargo(WFC - Cramer's Take - Stockpickr) have posted solid quarterly performances. Plus, crude oil dropped $6.49 on Tuesday and is down more than $1 on Wednesday.
The consumer price index was up 1.1%, an improvement for the first time in more than three months.
Citigroup(C - Cramer's Take - Stockpickr) reports results on Friday. The stock has been crushed, closing at $14.50 after hitting $56 a little more than a year ago. Analysts around the Street are certainly going to shoot low; after all, any analyst who has been around for a while is surely not going to go out on a limb with overly optimistic Citi numbers. ...........
Rest Of Article

Pawn Shop Trade Golden

2008-07-14T15:10:00.001-04:00

From thestreet.com 7/14/08

It was almost a year ago to the day. I remember because it was just days before Major League Baseball's All-Star break. It was raining hard and the market was a bit nervous about subprime, but we had no way of knowing the Pandora's Box that would unfold in the coming months.
I had been calling the bull run in gold and was (and still am) very bullish on the metal. There was a business I had been following for a while that would be an incidental winner if gold prices stayed high and the economy weakened. I had pitched a new Bolling story for Fast Money. It was a "Dirty Trade" segment on pawn shops.
My theory was this: With a nervous economy and jittery job market, pawn shops stood to benefit. Seeing tough roads ahead, I suspected that people would pawn their gold jewelry and use the money for necessities. Pawn brokers would be the right business at the right time.
EzCorp (EZPW - Cramer's Take - Stockpickr) remains that best play on my "pawn shop" theme. It is one of the world's largest operators of pawn shops. It derives revenue from two main sources.
First, it collects interest from the loans it makes. In some states (Texas, for example, where the majority of EzPawn shops do business) the interest rate on short-term loans can go as high as 240% ... legally!
In about 25% of those loans, the customer chooses to walk away from the collateralized jewelry, electronics, musical instruments, etc. If that happens, EzPawn shops are allowed to sell those items. ....................
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Bulls & Bears 7/12/08

2008-07-13T21:30:00.001-04:00

Betting on the Buck

2008-07-10T11:45:00.001-04:00

From thestreet.com 7/9/08

The moon is waxing crescent. It is 39% visible on its way to the first-quarter phase appearing on July 10. It's not until July 18 that the full moon is visible, as the sun reflects the moon's full image back to Earth.
It is said that people, animals, tides and events are affected by the lunar cycle. The notion is that these unpredictable occasions become increasingly emphatic as we approach a full moon. It is believed that crime rates increase and people's behavior becomes more erratic and agitated as we approach the full moon.
Apply that science to the markets, and we are in store for some wild trading over the next 10 days. If the wild swings and gyrations of the last two days are any indicator of the next 10, put your seat belts on and get ready for liftoffs or crash landings or more likely, both.
So what has been moving the market the last few days? Oil? Nope. Earnings? Nah. Economic data? Not really. The one indicator that has been moving just ahead of wild swing in the market is the dollar.
The dollar started out strong in Europe on Monday, and the indexes were up in early trading. The dollar started to weaken and fell sharply at around 10 a.m. Two hours later, the Dow began a rapid slide from 11,350 down to bear territory at 11,150. Then, on Tuesday, after spending the early morning resting around the unchanged level , Mr. Jamie Dimon, CEO of JPMorgan Chase (JPM - Cramer's Take - Stockpickr)), offered a bit of hope through a truly compelling speech to the FDIC forum in Arlington, Va. ............
Rest of Article

Brazil Knows Oil

2008-07-07T12:46:00.000-04:00

From thestreet.com 7/7/08

Ten years ago, I was in Brazil for a commodities conference, and I had a great opportunity to meet with some petroleum producers and refiners. It was clear that Brazil was getting its act together.
The oil industry was growing, and money was being spent on exploration and development of new oil fields. I realized that the Brazilian oil industry was worth watching.
The Brazilians are very forward-looking and are willing to spend big to produce more oil. They realized then and now that the world was going to need more oil. They were willing to spend some serious real on insuring their place in the global oil picture.
On a Saturday afternoon, I had some free time and went to Ipanema beach in Rio De Janiero. It was a sandy tropical beach with beautiful people everywhere. While sitting there, a kid came up to my beach chair and began showing me how he made a souvenir with wood and leather. He was very animated, and I found him amusing so I bought the thing for a few U.S. dollars.
It wasn't until a few minutes later that I realized he had an accomplice who had reached under my beach chair and lifted my bag. I got fooled by the old "look over here" scam. I had some money and nonsense in there, nothing to get too fired up about. I chalked it up to being a gringo in a place fairly unfriendly to gringos........................
Rest Of Article

Oil Pressures Stocks

2008-07-07T12:11:00.000-04:00

Gold in a Pennant Race

2008-07-02T15:04:00.001-04:00

From thestreet.com 7/2/08

Gold is breaking out of its pennant just as everyone begins to gear up for the Olympics in Beijing. As we head into the July Fourth weekend, the Olympic trials -- the competition to decide who will represent the nation in the games and go for the gold -- are heading down the homestretch.
Let me explain the logic and psychology of a reliable technical pattern -- the pennant. After a market, in this case gold, makes a big move in either direction, it starts to get volatile. Big moves up are met with big moves down.
Both bulls and bears are confident and take turns pushing the price up, then down. This goes on for days, but as time passes, the trader instinct begins to kick in ... "Why isn't this following through?"
The moves up and down become less and less exaggerated. The pattern that forms is called a pennant because the widest part of the flag is at the beginning and eventually closes in on a small point at the tip.
Pennants are great predictors of a substantial price move, but there is a catch. We don't know which direction the big move will go. The psychology again: The pent-up bulls and bears are ready to add conviction, but only one will win and we aren't sure which one. So, we wait for the "breakout." ..................................
Rest Of Article

Over a barrel: A day that shows how the global business of oil hits home in NJ

2008-06-30T20:51:00.003-04:00

From NJ.com
by Jeff May and Tom Johnson/The Star-Ledger
Sunday June 29, 2008, 12:01 AM

Eric Bolling settles into his desk and glances at the computer screen.
"Holy crap," the 45-year-old commodities trader murmurs.
It is Thursday morning and the New York Mercantile Exchange has opened a few minutes earlier at 9 a.m., and the price of crude oil is already up $4, to $138 a barrel.
Bolling, an ex-minor league third baseman who lives in central Jersey, reaches for his phone.
"Vin, it's R.B.I.," he says, using his nickname. "We have to buy 20 of crude," -- jargon for executing a trade for 20,000 barrels.
"Wow," he says after hanging up. "We're going to see an all-time record today."
He is dead on: A few hours later, crude hits $140 a barrel, continuing a dizzying ascent that has dragged down stocks and put a dent in Americans' wallets.
Oil is a complex business. It starts with exploration and drilling and leads to refiners who turn it into products such as gasoline. Then, it's pumped into trucks and shipped to the local filling station on the corner. The price is affected by countless, interlocking factors: the value of the dollar, politics, pipeline explosions, surging demands from China and the huge bets traders make every day from London to Dubai to New York.
On Thursday alone, Libya threatened to cut production from its fields, the president of OPEC estimated crude could soon reach as high as $170 per barrel, and U.S. lawmakers took steps to curb excessive speculation.
Amid all of this, one thing is certain: Oil's historic march is changing the lives of everyday people -- from traders like Bolling to 17-year-old Brittany Dippold and the car she chooses to buy and John Brackett and the number of passengers his party boat carries.
Here's the story of how the global business of oil hit home in New Jersey over the course of a single day.
3:30 A.M.: THE DAY BEGINSÂBolling's alarm clock goes off before dawn and, after getting ready, he drives into Manhattan to appear on the Fox Business Network's "Money for Breakfast" show, which airs at 7 a.m. These days, his schedule puts him on air more often than in the pits at the exchange, but it hasn't checked his appetite for trading.
Once one of the biggest individual traders of oil and energy futures on Nymex -- at his peak, he says, he accounted for 5 percent of the daily trading -- he has scaled back. Much of his money is now invested in shares of energy companies. A good amount of the consummate trader's money is now in cash.
"It's too dangerous to make a big bet on oil futures," says Bolling, who labored in the Pittsburgh Pirates' minor league system before a torn rotator cuff forced him to search for a new career. "If I had the same stake as I had two or three years ago, I could be wiped out in a day."
After seeing the rise in crude shortly after 9 a.m., Bolling calls his clerk at the Nymex and hedges his bets by buying 2,000 ounces of gold at $913 an ounce.
10:30 A.M.: THE LIMO DRIVERÂWith the average price of gas in New Jersey running $3.986, Gene Goobic no longer calculates trips in miles. Goobic, the manager of Short Hills Limousine and Van Services, uses gallons as his measuring stick.
Newark Liberty International Airport is exactly 1.4 gallons of gas away from the company's headquarters in Millburn, for example, using the service's Lincoln Navigator, he said.
On this morning, Goobic picks up a family of four in Short Hills for a trip to Newark airport. The limo service, shelling out $2,600 a week for gas, has started charging passengers a 15 percent surcharge to help cover costs.
"We have to pick up the slack," Goobic says. "If we don't, we're going to lose a lot of money. We have to stay above water."
To make matters worse, he says, a lot of his corporate clients are capping how much they're willing to pay.
"So if a guy calls me up and says my company is only letting us pay $71, sometimes we have to bite the bullet," he says. "Do we lose the $10 bucks or do we lose the customer? If a person or company uses us a lot, we'll give them a little break. I'm just hoping prices don't go up any more."
11:00 A.M.: 'BURNING GAS'Sam Abolata is on his fifth and, he says, his last Hummer.
The owner of Mia Sorella restaurant in Manville says he's now paying more for gas than the lease payment of his 2007 Hummer H2 SUT. The daily commute from his home in Flemington is easily costing him $40 a day, he says, as he prepared to open for lunch at 11 a.m.
"Even when the car's parked, it feels like it's burning gas," he says. "Maybe I should buy a gas station."
He's trying to sell the Hummer, but there aren't a lot of takers. Later in the day, a survey by the Civil Society Institute and Opinion Research notes three out of four Americans expect gas to cost $5 a gallon by Labor Day.
So what will Abolata's next vehicle be?
"Maybe a bicycle," he said.
11:10:'NO-NO'Deborah Fineman, president of Mitchell-Supreme Fuel in Orange, scans a computer screen to see the latest Nymex quotes. These days she watches prices "all day, every day."
Prices were up 14 cents -- and climbing -- an hour after OPEC president Chakib Khelil told a French TV station crude will likely rise to between $150 and $170 a barrel this summer.
"It used to be, in the summer, you'd buy futures contracts and try to establish prices for your customers," says Fineman, a lawyer who bought the company in a 1988 leveraged buyout with her husband, John Bozik. "The problem is the market has gone against historical trends."
Higher prices have put the squeeze on Mitchell-Supreme, which ships millions of gallons of fuel oil a year to homeowners and apartments in northern and central New Jersey.
Heating oil is up 55 cents a gallon this year, which translates into a 76 percent increase since January, she says. Many residential customers, whipsawed by the twin threat of recession and inflation, can't afford to fill their tanks.
"We go to fill up and the homeowner says, 'No, no,' because they figure the price is going to come down," says Fineman, adding Mitchell-Supreme's profit margins have slipped 10 percent over the past year. "So instead of going to the house twice, you have to go three, four or five times. You can't pass on the entire price increase to our customers because they can't afford to pay their bills."
NOON: ANOTHER WILD DAYBolling munches on a turkey wrap at a restaurant next door to the exchange. When someone remarks how relaxed he seems, he picks up his phone and calls his clerk: "Hi, it's R.B.I. What's crude doing? How about gold?" He nods, reassured, and says neither has moved since he bought them a few hours earlier.
Bolling learned the hard way of not paying close attention to his trades. Six years ago, he took the morning off to read to his son's preschool class. At the time, he had a big bet that natural gas prices would fall. But the night before had turned unexpectedly frigid. Gas futures were soaring.
As he sat in the class reading, Bolling was bombarded with text messages: "Where are you? You have to get here." He began to sweat, but finished reading the book. The teacher asked the class: "Any questions?" Twenty-five hands went up, he recalled, but he stayed and answered every one.
When he left, his son looked up and told him, "Dad, it was great."
By the time he got back to work, he was down $2.1 million, he recalls.
1:00 P.M.: MISSING THE TORN SHIRTBolling enters the Mercantile Exchange a little before 1 p.m., shaking hands with most of the people he passes. He never wears a tie -- not even to his own wedding -- and always wears mismatched socks, a superstition from his days playing baseball.
He began trading at the exchange in 1986 and quickly fell in love with the competitiveness, confusion and chaos of the pits.
"I love trading," he says ruefully, noting the exchange floor has changed since electronic trading began in 2006. About 80 percent of trades are made on computer screens.
"I miss it, coming out with a wet shirt, a torn shirt, but it's not there anymore," he says.
Upstairs in his 12th floor office with drop-dead views of the Statue of Liberty, Liberty State Park and Jersey City Gold Coast, he picks up the phone and rolls over some natural gas contracts for July into August so he doesn't actually have to take delivery.
"Okay, dude," he says once the deal is done. "Perfect."
2:05 P.M.: THE PARTY BOAT CAPTAINÂJohn Brackett said he spends two hours a day tracking commodity prices. That didn't used to be in the job description of a party boat captain.
Since 1980, he has operated the Queen Mary, a 75-foot fishing boat that sails out of Point Pleasant Beach. Brackett, who usually heads out to sea at 7:30 a.m., so customers can catch runs of bluefish and striped bass, returns to dock shortly after 2 p.m.
The diesel fuel he uses has jumped 50 percent in price, and he says he knows why.
"They are not just building buildings over in China, they are building whole cities, and because of that they need diesel to run their trucks, trains and all of their heavy equipment," he says.
To save fuel, Brackett doesn't open up the Queen Mary's engines as much as he used to. But there's another bigger problem.
"What affects me is when people are coming from Allentown, Pa., and they have to drive 120 miles," he says. "If they get 20 miles to a gallon, that means it costs them $8 more than last year to make the trip. The disposable income is not there."
2:20 P.M.: CLOSING OUT THE DAYOnly 10 minutes remain until the close of regular trading at Nymex.
Bolling has only made three trades so far, a far cry from his days in the trading pit, when he would have made more than 200 transactions by this time. These days, it's the big banks and hedge funds who move the price of energy.
"The trends are much bigger and deeper than they were before," he says.
5:00 P.M.: A RUN ON SMART CARSRay Catena's Edison dealership is packed with Mercedes, Porsches and Aston Martins. But his Smart showroom is the busiest area on the lot.
The dealership has sold more than 250 of the Mercedes-Benz-made Smart cars -- which start at around $11,600 -- since they first started arriving Jan. 18. On this day, he's got 10 left. They probably won't last the week, sales manager Leigh Farrell says.
Brittany Dippold, meanwhile, is one very happy 17-year-old.
Her father, Anthony Dippold, is closing the deal on a Smart car convertible for her.
Why the Smart car?
"Four dollars a gallon," he says. "And this car gets around 40 miles to the gallon."
The car was actually Brittany's choice. After shopping and researching, she was pushing for a used Audi TT. But when she saw the Smart car and its three-cylinder, 70 horsepower engine, she simply "fell in love with it," her father says.
The deal clincher: she's going to be paying for the gas.
POSTSCRIPTThe oil rally didn't stop Thursday.
The price of crude touched $142.99 a barrel Friday, up more than $8 in just 48 hours. Analysts' predictions of $150 -- which months ago seemed outlandish -- may be just days away.
Staff writers Sam Ali, George E. Jordan, Joseph R. Perone and Ian T. Shearn contributed to this report.

Profit on Offshore Drillers

2008-06-30T14:40:00.002-04:00

From thestreet.com 6/30/08

Editor's note: This is part III in a series on oil. Let me just say that this has been an interesting two weeks with this column.
First, I wrote about the emerging problem with the oil supply and potential fixes. I suggested that after talking to big ocean driller Transocean (RIG - Cramer's Take - Stockpickr) that we should begin the process to push Congress to lift the moratoria on Outer Continental Shelf (OCS) drilling.
After doing some painstaking due diligence, I found out that we may achieve oil independence in as little as a year, and as long as six years, depending on the location, depth and prior infrastructure.
Next, I took the position a step further. I contacted other drillers including another major offshore driller, Diamond Offshore (DO - Cramer's Take - Stockpickr). Officers there confirmed the information I had developed during my discussions with Transocean. I have gone on record saying that I believe that these time frames are realistic and attainable.
Since those two columns ran, I have been bombarded with email requesting more information.
Last week, I had the good fortune to interview both Sarah Palin, the Republican governor of Alaska and Ed Rendell, the Democratic governor of Pennsylvania. Both are very important in the world of oil.
Palin came out very much in favor of drilling the OCS and her state's own Arctic National Wildlife Refuge (ANWR) territory in an effort to reduce our dependence on foreign oil. She agreed that the oil reserves of ANWR are in the 10 billion-barrel range. She recognizes the need for that oil if we are ever going to reduce our reliance on foreign producers.....

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Energy Eruption

2008-06-27T11:54:00.001-04:00

Will Gas Ever Go Back To $2 ?

2008-06-27T11:53:00.000-04:00

Rendell's Proposed Energy Reform

2008-06-27T11:51:00.000-04:00

Bears Prowling On Wall St

2008-06-27T11:48:00.000-04:00

Bolling's Capper

2008-06-27T11:36:00.002-04:00

China's Rising Inflation

2008-06-26T11:34:00.000-04:00

How to Solve the Oil Crisis

2008-06-25T12:52:00.001-04:00

From thestreet.com 6/25/08

Oil is $130-something per barrel, and gasoline is over $4 per gallon. I am paying more for everything from milk to electricity to airline tickets. FedEx(FDX - Cramer's Take - Stockpickr) and UPS(UPS - Cramer's Take - Stockpickr) aren't delivering ... earnings. Retail stocks are getting hit because people aren't buying stuff with gas at $4.
And Starbucks cannot sell a $4 latte for the same reason. This is what happens when the world's most ravenous (for oil) country has no clearly defined energy policy. These are just a few of the results of a lack of national awareness of the problem and the potential solutions.
Barron's pointed out that the average U.S. consumer uses 25 barrels of oil per year. In China, that number is two barrels and in India it's less than a single barrel. The perception is that the growth in oil demand in those emerging countries will pick up and they will use more and more oil. True, we will need more oil.
What's the problem?
The world has been running out of oil?
The world has run out of "easy oil"?
The world is going to run out of accessible oil?
False, false and false.
We have billions upon billions of barrels and gas equivalents of oil available to the world. In fact, we have billions upon billions available to us in the U.S. We have an estimated 18 billion barrels off the Outer Continental Shelf.
Certain people in Congress would have us believe that those barrels are 10-plus years away from our refiners' cracking towers. That's just not true. I told you about the conversations I had with Transocean(RIG - Cramer's Take - Stockpickr) officers and their time frames for that oil in the last column. I have since confirmed that opinion with other big-time ocean drillers, and the picture remains as clear as it was last week.....
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Palin Says To Open ANWR

2008-06-25T11:33:00.000-04:00

Shaq's Bad Rap

2008-06-25T11:31:00.000-04:00

Political Vice For Obama

2008-06-25T11:29:00.000-04:00

Emerging Solutions for the Oil Crisis

2008-06-23T12:42:00.001-04:00

From thestreet.com

When the market is acting crazy and I need to clear my head, I get out and run or power walk. After 4-6 miles, my mind usually becomes much clearer and I can focus on the issue, trade, or whatever.
I'm in LA right now, trying to make sense of the oil market. I have done two 10 mile jaunts on back-to-back days. When I left home last Thursday, crude oil had just dropped $4.75 on word that China had raised fuel prices (by reducing subsidies) to most drivers.
Speaking on TV last week, I had suggested that we should lift the drilling moratorium in the Alaska National Wildlife refuge (ANWR) and the Outer Continental Shelf (OCS) off of the off the U.S. coast. Noting these potentially huge reserves, the pension funds, hedgies and other speculative interests might bail on a maturing bull run in oil. Selling on top of selling might break the bull market's back and send prices south for now.
A Congressman followed my segment and suggested that drilling wouldn't help for 10 years or more. I know this is absolutely untrue, so I called Transocean (RIG - Cramer's Take - Stockpickr), the biggest driller in the world. An officer of the company told me that depending on the location of the drilling, oil could be realized in as little as a year.
Ultra-deepwater fields might produce in 3-5 years. For the most remote locations, without any prior infrastructure support, that barrel may require a 4-6 year window. I suggested 8 years and he said that he could not envision a situation where it would require more than 6 years to bring a barrel out of the ocean floor. .........

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Cashin 'In 6/21/08

2008-06-21T11:31:00.002-04:00

To Drill Or Not To Drill

2008-06-19T12:08:00.000-04:00

Corn Popped By Floods

2008-06-18T12:17:00.001-04:00

Charge Ahead With Mastercard

2008-06-18T10:21:00.001-04:00

From thestreet.com

"Fill, Cash, Regular." Those words are becoming more difficult for me to say to the gas station attendant for a fill-up. I would gladly pump my own gas to save a few cents per gallon of liquid gold, but the law requires someone else to do it for me in New Jersey.
After spending the first few years of my post-baseball career working for Mobil Oil as a marketing representative, I learned that the added octane of premium blends is not worth the higher price. So I use "regular" unleaded. My only exception: when premium gas (not mid-grade) is within five or six cents per gallon higher than regular unleaded.
I just hate the fact that I leased a Range Rover Sport that guzzles gas the way my nine year-old swigs Gatorade. I am in the service station at least once a week. At a combined 10 miles per gallon, a 20-gallon tank, a 20-mile commute to Manhattan and a weekend at the beach, I spend entirely too much time at the gas station. So I'd rather "Fill" rather than come back sooner than necessary.
Now, the interesting part: "Cash." Who carries this kind of cash around anymore? I am absolutely bewildered when the attendant asks me for payment. It's like 80 bucks! "Are you kidding?" I never, ever used a credit card for gas. I always paid cash. Not anymore. I now use the old plastic.
We have been used to dropping $20 or $30 in the gas station, but now we are approaching a C-Note for gas- just wild! That makes the decision to use plastic easier.....
Rest Of Article

Plum Computing Solution

2008-06-17T16:03:00.000-04:00

Happy Hour: Mort Takes Manhattan Part 1

2008-06-16T12:19:00.001-04:00

Happy Hour: Mort Takes Manhattan Part 2

2008-06-16T12:18:00.002-04:00

Happy Hour: Mort Takes Manhattan Part 3

2008-06-16T12:15:00.000-04:00

The Popcorn Wars

2008-06-16T12:14:00.000-04:00

Bear Stearns 2.0 ?

2008-06-16T12:08:00.000-04:00

Golden Boy Talks Biz

2008-06-16T12:05:00.001-04:00

Politics & Oil

2008-06-16T12:00:00.002-04:00

Starting Out On Your Own

2008-06-16T11:53:00.000-04:00

FARMING'S PERFECT STORM

2008-06-16T11:18:00.002-04:00

After Lehman Call, Bet on GS, JPM

2008-06-16T10:56:00.003-04:00

From thestreet.com 6/16/08

Always split aces and eights when playing blackjack.
You always split aces because you are getting two hands that theoretically can hit 21 on the next card. You split them into two strong hands, and therefore, you get more money on the table in a strong position. Besides, leaving two aces gives you a two or twelve, neither of which is a good start to a hand. If given the chance, wouldn't you double your bet knowing that your first card was going to be an ace? Sure you would and should.
Now for the eights. You always split eights for a couple of reasons. First of all, sitting with a sixteen against any card the dealer is showing is bad. It gets worse if the dealer has a 9, 10, 11 showing. You will lose about $53 for every hundred you bet by playing a hand of 16. When you split 16 into two hands of eight, you decrease that value of the combined loss to around $43 per hundred dollars bet, even though you put more money on the table. Where splitting the aces is an attempt to win more, splitting eights is an attempt to lose less. It is actually a defensive bet. If you plan to play blackjack, play by "the book," or the way you have the best odds of walking away a winner.
By the time this column is published, Lehman(LEH - Cramer's Take - Stockpickr) will have reported its quarterly numbers. We are all expecting that massive $2.8 billion loss. They were kind enough to surprise us with that last week instead of surprising us with it Monday. Let's hope Mr. Fuld and company have no more tricks up those very long, loose sleeves............
Rest Of Article

Buy WMT, BJ and COST in Bulk

2008-06-13T11:27:00.001-04:00

From thestreet.com

It was my wife's birthday, and we were going to celebrate by going out to a nice dinner. We had planned on a steakhouse we both love. Then I got word that my pal Cody Willard was going to have to miss the taping of his show Happy Hour.
Being that I have spent my share of time in various bars and restaurants, I seem to be the logical choice to sit in for him. I have co-hosted that show with the lovely and very talented Rebecca Gomez in the past but never did it rock like it did Wednesday night.
We had an amazing guest list including Billionaire real estate developer and media mogul Mort Zuckerman, John McCain's senior economic advisor Douglas Holtz-Eakin and last but not least Geraldo talking about the "scumbag" hedge fund manager who may have faked his own suicide to avoid a 20-year prison term. As a host, I couldn't ask for more.
There was a common theme that ran through the show: the sense that the economy is not yet ready to make a solid turn for the better. Mort Zuckerman told me that he thought housing and house prices are not yet ready to firm. He would not put a time frame on when the housing sector may rebound even though I pressed him on it three times. He is that good.
Mort also postulated that the U.S. consumer will feel the pinch or sting or bloodbath of weaker home values as he tries to borrow against a sliding equity balance in their home. That may signal tough times ahead for the consumer, who, as of today, was showing no signs of relenting yet. I heard it on the radio again Thursday: "the U.S. consumer refuses to die." ...................
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Ag Stocks Mirror Oils

2008-06-11T11:32:00.002-04:00

from thestreet.com 6/11/08

What a lifetime as a trader does to one's mind!
Tomatoes are tainted, what does that mean? There must be a trade there somewhere. What do people replace the tomato with? Onions perhaps? Is there a way to trade from the long onion position? Or maybe I should be buying Heinz(HNZ - Cramer's Take - Stockpickr). Ketchup is made from tomatoes, but I just can't see me ordering a turkey on rye with lettuce and ketchup. If you spend enough time trading, you realize that regular events in daily life somehow translate into trades.
Two and a half years ago I was in the mall with my son Eric Chase. It was February so the big holiday sales push had faded into memory. Eric grabbed me and dragged me into GameStop(GME - Cramer's Take - Stockpickr). He had to try out the newest games and see if there was a used game trade for himself.
What I saw was a trade. There were three lines filled with people buying games -- both new and used. I couldn't wait to get into GameStop stock. I went to the air with the call. The others looked at me like I was crazy. I told the story about how my 7-year old turned me onto a great looking retail operation. So, as soon as my restrictions were lifted, I bought GME.
To make a long story less long, two weeks later, GME guided positively for the upcoming first quarter and full-year. That stock went to $25 from $18 in a shot -- 38% in a couple of stress free weeks.....
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Head for the Exits on Integrated Oil

2008-06-09T11:22:00.002-04:00

From thestreet.com

Head for the Exits on Integrated Oil
Everyone around me is asking one question about the oil shock we experienced last week: "What did I miss?"
Let me walk you through the week. The crude oil market was continuing a path lower for much of the time. For the first time in literally months, it was better to sell oil rallies than to buy the dips. That translates into a good environment for the shorts -- and I was one of them. I was very comfortable Monday and Tuesday. I was short crude oil on several platforms, and I was short futures and long UltraShort Oil & Gas ProShares(DUG - Cramer's Take - Stockpickr), the inverse of the oil price.
Nothing goes straight up or down, but when I sell a small "pawn" (short) as a test of the market's strength and it comes back intact, I get the notion that the short is the right position. And it was on Wednesday.
Then Thursday happened. It was a historic day. After trading on both sides of unchanged in the morning, the European Central Bank President Jean Claude Trichet threw everyone for a loss. He did what most expected and announced a "no change" to ECB interest rate policy. Then he did the unimaginable -- he opined that the next move for the ECB would likely be to raise their already lofty interest rates.
Most in the trading world thought, and rightly so, that the ECB should be looking to lower rates in order to stimulate a recessing Euro zone -- ask France, Germany and England how they feel about a rate hike anytime soon.....
Rest of Article

STAYCATION NATION

2008-06-09T11:18:00.001-04:00

HOW WE GOT TO $138 OIL ? PART 1

2008-06-09T11:12:00.001-04:00

HOW WE GOT TO $138 OIL ? PART 2

2008-06-09T11:10:00.001-04:00

EXPERTS SPILL ON OIL

2008-06-09T11:09:00.001-04:00

UP UP AND AWAY ! Why is oil Spiking & Soaring ?

2008-06-09T11:05:00.000-04:00

STIMULUS CHECKS: WHAT'S GOING ON ?

2008-06-06T11:31:00.002-04:00

OIL RELIEF ?

2008-06-06T11:28:00.001-04:00

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2008-06-04T14:58:00.000-04:00

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