Howard L. Simons is president of Rosewood Trading. @simonsresearch
No single commodity, not even gold, has produced so many schizophrenic reactions in financial markets over the years as crude oil has.
If you have yet to be aggravated by some market pundit opining “commodities” rose or fell because “the dollar” fell or rose, congratulations; this means you have been spending your days pursuing us
Financial markets are full of shorthand, which causes cases of mistaken identity.
Not too many people realize it yet, but the worst part of machine-driven trading is the absence of human traders making the same mistake over and over again.
It is a question seldom asked: Just because you can trade something, should you?
There are no sure bets in financial markets. For years we could stipulate traders associated higher gold prices with higher inflation, and with good reason.