Friday, May 27, 2011
Wednesday, May 4, 2011
Opportunist Magazine Interview
Eric Bolling “Calls ‘Em As He Sees ‘Em”
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 runni
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?
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 mem
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.
Friday, March 11, 2011
Tuesday, January 11, 2011
Why Money Rocks Became Follow The Money
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/
Tuesday, May 25, 2010
Wednesday, May 19, 2010
Tuesday, May 18, 2010
Monday, May 17, 2010
Thursday, May 13, 2010
Monday, May 10, 2010
Thursday, October 8, 2009
Friday, April 3, 2009
Twitter Taking Over The G-20?
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. --"
Tuesday, March 31, 2009
Street Meat: G-20 Important?
" 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."
Tuesday, March 17, 2009
Bear Sterns: One Year Later
" 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."
Wednesday, February 18, 2009
Street Meat: Russian Out
" 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."
Monday, February 9, 2009
Golden Years
" 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."
Thursday, January 29, 2009
Eric Bolling Reveals His Infrastructure Stock Picks
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.”
Monday, January 12, 2009
The Gold and Platinum Connection
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. ....
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