Crude Oil is Range Bound but Bearish

Peaks and Troughs Progression
Light sweet crude oil formed a lower minor low and a lower minor high. The intermediate trend is towards lower prices.

Moving Averages
Crude oil is trading near the flattening 9 and 18-day simple moving averages: the short-term trend is towards sideways prices, and the signal is reliable. The commodity is trading below the declining 50-day simple moving average: the intermediate trend is towards lower prices, and the signal is reliable. Crude is trading near the middle Bollinger band after bouncing off of the upper band.

Momentum Indicators
The 12-day rate of change is declining and below equilibrium: the price is lower than it was 12 days ago and the difference is increasing. The 14-day slow stochastic indictor is near equilibrium. The 14-day RSI is near equilibrium and is suggesting crude oil is in a bear market.

Investor Sentiment
The non-commercial traders were net long 224,402 contracts of light sweet crude oil on November 12, 2012. The number of longs declined by 8,562 contracts and the number of shorts increased by 493 contracts compared to the prior week's reading. Investors are becoming more bearish on crude oil.

Crude Oil Inventories
Crude oil inventories decreased by 2.9 million barrels from the previous week, according to the EIA report released Wednesday. U.S. crude oil inventories remain above the upper limit of the average range for this time of year. Last week, inventories increased 1.1 million barrels.

The elevated level of inventories should weigh on the price of crude oil in the coming weeks.

Conclusion: Neutral
The fundamentals of the crude oil market are reflecting tepid economic growth as inventories are above the upper limit of the average range for this time of year. Further, the IEA cut the demand forecast. The market action in crude oil is reflecting the weak fundamentals. Also, fundamentals may get weaker in the weeks to come. That said, traders should be short the market and investors out of the market.???

By. Chris Grosvenor

Source: http://oilprice.com/Finance/investing-and-trading-reports/Crude-Oil-is-Range-Bound-but-Bearish.html

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Drought worsens after weeks of improvement

ST. LOUIS (AP) ? The worst U.S. drought in decades has deepened again after more than a month of encouraging reports of slowly improving conditions, a drought-tracking consortium said Wednesday, as scientists struggled for an explanation other than a simple lack of rain.

While more than half of the continental U.S. has been in a drought since summer, rain storms had appeared to be easing the situation week by week since late September. But that promising run ended with Wednesday's weekly U.S. Drought Monitor report, which showed increases in the portion of the country in drought and the severity of it.

The report showed that 60.1 percent of the lower 48 states were in some form of drought as of Tuesday, up from 58.8 percent the previous week. The amount of land in extreme or exceptional drought ? the two worst classifications ? increased from 18.3 percent to 19.04 percent.

The Drought Monitor's map tells the story, with dark red blotches covering the center of the nation and portions of Texas and the Southeast as an indication of where conditions are the most intense. Those areas are surrounded by others in lesser stages of drought, with only the Northwest, Florida and a narrow band from New England south to Mississippi escaping.

A federal meteorologist cautioned that Wednesday's numbers shouldn't be alarming, saying that while drought usually subsides heading into winter, the Drought Monitor report merely reflects a week without rain in a large chunk of the country.

"The places that are getting precipitation, like the Pacific Northwest, are not in drought, while areas that need the rainfall to end the drought aren't getting it," added Richard Heim, a meteorologist with the National Oceanic and Atmospheric Administration's National Climatic Data Center. "I would expect the drought area to expand again" by next week since little rain is forecast in the Midwest in coming days.

He said there was no clear, scientific explanation for why the drought was lingering or estimate for how long it would last.

"What's driving the weather? It's kind of a car with no one at the steering wheel," Heim said. "None of the atmospheric indicators are really strong. A lot of them are tickling around the edges and fighting about who wants to be king of the hill, but none of them are dominant."

The biggest area of exceptional drought, the most severe of the five categories listed by the Drought Monitor, centers over the Great Plains. Virtually all of Nebraska is in a deep drought, with more than three-fourths in the worst stage. But Nebraska, along with the Dakotas to the north, could still see things get worse "in the near future," the USDA's Eric Luebehusen wrote in Wednesday's update.

The drought also has been intensifying in Kansas, the top U.S. producer of winter wheat. It also is entirely covered by drought, and the area in the worst stage rose nearly 4 percentage points to 34.5 percent as of Tuesday. Much of that increase was in southern Kansas, where rainfall has been 25 percent of normal over the past half year.

After a summer in which farmers watched helpless as their corn dried up in the heat and their soybeans became stunted, many are now worrying about their winter wheat.

It has come up at a rate on par with non-drought years, but the quality of the drop doesn't look good, according to the USDA. Nearly one-quarter of the winter wheat that germinated is in poor or very poor condition, an increase of 2 percentage points from the previous week and 9 percentage points worse than the same time in 2011. Forty-two percent of the plantings are described as in fair shape, the same as last week.

Farmers who might normally irrigate in such circumstances worry about low water levels in the rivers and reservoirs they use, and many are hoping for snow to ease the situation. But it would take a lot. About 20 inches of snow equals just an inch of actual water, and many areas have rain deficits of a foot or more.

Source: http://news.yahoo.com/us-drought-worsens-weeks-improvement-164724509--finance.html

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Brooklyn mansion on the market for $25 million

2 hrs.

Colleen Kane , CNBC.com

This landmarked, century-old neoclassical mansion in Brooklyn?s Park Slope neighborhood has 23 rooms, 9 bathrooms and approximately 10,000 square feet of space. The home recently listed with Halsted Property for a potentially record-setting $25 million.?

As a point of reference, the priciest home to ever sell in Brooklyn?sold?earlier this year for less than half that amount, $12 million. That was the Brooklyn Heights townhouse once belonging to Truman Capote, which went through numerous?price cuts?over nearly two years from the original $18 million asking price.

?The price is based on offers received by unsolicited offers in the past,? said the property?s broker, Marc Wisotsky. ?We?ve listed at the price [the owner] asked and the market will speak."

The property?s other broker, Jackie Lew, added, ?That is just the asking price. There is negotiability.?

In terms of impressive factors that might contribute to that value, consider this: in 100 years, the house has had just three owners, beginning as the residence of the Tracy family, who made their fortune in stevedoring. Ownership then transferred to the Knights of Columbus. Current owner Anil Kumar Sinha bought it in 1969 and converted it to a private Montessori school, which closed earlier this year amid?scandal.?

Another rare attribute: it?s never been subdivided into apartments. Other than the addition of an enclosed fire escape, the layout is still the same as when the Tracys dwelled there in the twentieth century.?

Other unusual factors for a Brooklyn residence are both the building?s 50-foot width and the 112-foot depth of the property it sits on, both which exceed typical proportions of the area, according to the brokers. The mansion also comes with air rights, for a total (pending approval of any new additions) potential square footage of 16,800.?

The Tracy mansion was built in 1912 by Frank J. Helmle (an alumnus of the iconic New York architecture firm McKim, Mead and White), who also?designed?the Boathouse and other structures in nearby Prospect Park.???

Behind the fa?ade?s four fluted, modified Corinthian columns is this grand entryway. The dramatic marble entrance to the home has a curved bay shape, bronze doors, a golden-hued stained glass transom window, and a vaulted ceiling.

The home has three full floors and a basement (or garden level, as they?re called in Brooklyn). On the parlor level (first floor) are mahogany-paneled walls and this eight-foot tall Italian marble fireplace, and a sweeping staircase with tall stained glass windows.

The mansion?s dining room has coffered ceilings, more dark wood paneling, inlaid floors, and built-in mirrored china cabinets. The brokers note that the Tracy mansion can be a single-family home or can be adapted again to use as a school, or a museum or offices, possibly as a rental property.

The listing is held with?Halstead, an affiliate of?Luxury Portfolio International.

Related content:?

Source: http://www.nbcnews.com/business/brooklyn-mansion-market-25-million-1C7201219

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JG Wentworth is the Foremost Purchaser of Structured Settlements ...

Most people are always apprehensive about the uncertainty of their financial needs as any unforeseen accident or event can disturb the equilibrium of their lives. When in such a situation people prefer to exchange their annuities or future payments with a lump sum of money that can help them meet their financial needs. JG Wentworth stands tall as the leading purchaser of structured settlements and other forms of future payments belonging to their clients in order to satisfy their need for liquid cash. The firm began its operation as a merchant banking firm in 1991 but shortly afterwards started purchasing deferred payments of clients.

JGW is a trusted name as a purchaser of annuities and structured payments as the company has a proven track record over the last two decades. The company flourished in particular in the 1990?s when there was little competition in the market. Experts and neutral commentators credit JGW with the development of a secondary market for clients to sell structured settlements. In addition, the company was also one of the few key players in pushing for a monumental legislative bill that regulated the sale and purchase of structured settlements.

JGW believes in keeping a strong and effective connection with its clientele which has led to an innovative and interesting marketing campaign. The company pays special attention to its TV commercials and advertisements by embedding its message in provocative and interesting themes. JG Wentworth TV ads have also inspired their fans to come up with light-hearted parodies which only goes on to show how ordinary people can relate to their commercials. In particular, JG Wentworth commercial by the title of ?Opera? has become very popular with their clients and even general public. This TV advertisement features a Viking family performing on stage and singing about their imminent need for cash and how JGW can solve their financial problems.

JGW has gone from strength to strength over the last two decades as currently the total amount of future payment obligations of clients purchased by the company has exceeded total net worth of $4 billion. Over the years, the company has expanded the scope of its financial services as now it also offers to purchase life insurance policies, lottery winnings and inheritances. Currently owned by a private equity firm, JLL Partners, JGW continues to cater to the needs of its clients to deliver cold hard cash in their hands so that they can meet their current financial obligations immediately instead of waiting for their deferred payments to mature.

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Source: http://www.sidajeunes.org/business-ideas/jg-wentworth-is-the-foremost-purchaser-of-structured-settlements-in-america-963.html

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Watson left out as Australia name unchanged squad for second Test ...

Watson left out as Australia name unchanged squad for second Test ? Cricket News Roundup ? Part II ? November 21, 2012

Cricket Australia on Wednesday named an unchanged squad for the second Test against South Africa, commencing at Adelaide Oval on Thursday, November 22, 2012.

Veteran Queensland all-rounder Shane Watson, as anticipated, failed to make the cut, owing to a recurring calf injury. The 31-year-old Australian opener, who also bowls right-arm medium pace, re-aggravated a calf injury while playing for New South Wales in the Sheffield Shield trophy, earlier this month. The niggle had also forced him to sit out the drawn series opener at Gabba, Brisbane.

The NSW all-rounder attempted to prove his fitness at training in Adelaide this week, but skipper Clarke said that "[Watson] improved a lot over the last few days ... but is probably a few days short of being 100 per cent."

Australia:?Michael Clarke (captain), David Warner, Ed Cowan, Rob Quiney, Ricky Ponting, Mike Hussey Matthew Wade, Peter Siddle, James Pattinson, Nathan Lyon, Ben Hilfenhaus, Mitchell Starc (12th man).

Former Australian skipper Steve Waugh has tipped a 3-0 win for India in the ongoing four-match Test series against England, at home.

While speaking to media reporters on Tuesday the former Australian great said that the playing conditions in India suit MS Dhoni and Men more, so they have a strong chance of winning the Test affair with a 3-0 margin at least.

"India are a strong side, always hard to beat in India and some of the young players are coming through, which is great sign for Indian cricket," Waugh, a veteran of 168 Tests, said during the India- Australia Innovative Forum here in New Delhi. "India will win this series, I think they will win it 3-0 because the pitches will suit their team," he added further.

Former Pakistan skipper Ramiz Raja, on Wednesday lavished praise on emerging Indian batsman Cheteshwar Pujara for scoring an impressive double century against England at Ahmedabad last week.

"Pujara played a fine innings. England may be technically weaker but are a mentally strong unit. I feel to score over 200 against a team like that is the hallmark of a confident batsman," Raja said while speaking to PTI-Bhasha.

Pujara, 24, scored an unbeaten 206 against the Poms in the first Test at Ahmedabad, to set the tone for a crushing nine-wicket win for the hosts. His calm demeanour prompted the pundits to start comparing him to Rahul Dravid. Raja, however, said that the rookie No. 3 batsman should not be compared to ?The Wall? just yet.

Source: http://blogs.bettor.com/Watson-left-out-as-Australia-name-unchanged-squad-for-second-Test-Cricket-News-Roundup-Part-II-November-21,-2012-a202987

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Driver in Texas parade crash is an Army veteran

MIDLAND, Texas (AP) ? A 50-year-old Army veteran who served in Iraq and Afghanistan was driving a parade float that investigators say edged across a railroad crossing in Texas despite warning signals of a fast approaching train, an attorney said Tuesday.

Four veterans were killed in the resulting collision in Midland on Thursday. Sixteen people were injured.

Dale Andrew Hayden was driving one of two flatbed trucks carrying wounded veterans and their loved ones in the procession to honor the war heroes, said Hal Brockett, Hayden's attorney.

"Words can't express the sorrow and remorse for the people who got hurt and killed," Brockett said in an interview Tuesday.

Investigators say the float began crossing the train tracks even though warning bells were sounding and the crossing lights were flashing. A Union Pacific train travelling at more than 60 mph ran into the truck as the occupants scrambled to jump to safety.

Hayden, who has a military career spanning more than three decades, now works as a truck driver for Smith Industries, an oilfield services company. Brockett said the company placed Hayden on medical leave.

Hayden is "kind of catatonic" and not ready to be interviewed, Brockett said. "He's just very much in shock."

Doug Fletcher, a Dallas attorney representing Smith Industries, said Hayden is an Army reservist who has been driving for the company for two years and may have driven in the parade before.

Hayden is undergoing "professional counseling," Fletcher said. "He is beyond distraught."

Fletcher said the company is taking steps to protect the driver after he received "some hate emails."

No one responded to a knock on the door at a mobile home listed as Hayden's residence Tuesday.

Federal investigators on Tuesday plan to re-enact the events that led to the collision. Midland police also are investigating the crash but it's not clear what, if any, criminal charges will be filed.

"I really can't speculate as to what any charges might be," said the county's district attorney, Teresa Clingman, because the police "investigation is not complete."

According to the National Transportation Safety Board, the railroad crossing warning system was activated 20 seconds before the accident, and the guardrail began to come down seven seconds after that.

But some Midland residents have said there isn't enough time between when the signal begins and the trains arrive. They say guardrails aren't completely down by the time a train comes by.

The Union Pacific freight train heading to Louisiana was estimated to be going at 62 mph at the time of the crash.

The veterans had been invited to Midland, a transportation and commerce hub in the West Texas oilfields, for a three-day weekend of hunting and shopping in appreciation of their service. A local charity, Show of Support, had organized the trip, parade and other festivities. Show of Support officials have declined to identify the driver.

Killed were Marine Chief Warrant Officer 3 Gary Stouffer, 37; Army Sgt. Maj. Lawrence Boivin, 47; Army Sgt. Joshua Michael, 34; and Army Sgt. Maj. William Lubbers, 43.

Hayden began his military career as an active-duty soldier from 1980 to 1988. He did two stints in the Oklahoma National Guard in the 1990s before signing up again for the Army Reserve in December 2003, according to Army records. He served in Iraq until March 2005 and was deployed to Afghanistan in 2009 until the following September.

Source: http://news.yahoo.com/driver-texas-parade-crash-army-veteran-180142837.html

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Black Friday wireless deals from AT&T, Sprint, T-Mobile and Verizon

Featured

3 days

Gary Merson , HD Guru

We?ve scoured the major retailers? Black Friday deals and found the most outstanding values for every member of the family. A 32-inch scree... Read more

12 hrs.

Wilson Rothman , NBC News

Amid all the Black Friday frenzy, it's important to?check in with wireless carriers because, at least in this country, they basically dominate cellphone sales. Translation: If you are in the market?for a phone ? especially Samsung's top-selling Galaxy S III ? the following is required reading.

AT&T
AT&T's deals kick off when Black Friday does, 12:01 a.m. ET?Friday morning, and runs through?Cyber Monday, Nov. 26, "while supplies last." The deals are aimed at online shoppers, and all of them will be gathered on this page for your perusal.

On Friday, the first wave of discounts goes to refurbished phones, which AT&T says will start at one penny.?On Saturday, you'll see markdowns on specific phones:

• HTC Vivid - one cent
  
• Rugby Smart - 99 cents
  

On Monday,?there will be more specific models marked down to 99 cents:

• Pantech Renue
  
• Motorola Atrix HD
  
• HTC One X (gray only)
  
• Samsung Galaxy S II Skyrocket
  
• Nokia Lumia 900
  

AT&T is also having some ongoing holiday-season sales, including $100 off any tablet, even iPads (as long as you sign a two-year service?contract); and a Samsung deal that gives people who buy any Galaxy phone "up to?$100" off a second Samsung-branded phone or tablet.

Sprint
Sprint's Samsung-focused?deals kick in on Thanksgiving itself: Go to the carrier's holiday deal?site (or call?1-800-Sprint1) and you can get $150 dollars off a 16GB?Samsung Galaxy S III phone ? $49.99 with a two-year agreement.

As part of the same promo, you can also get the Samsung?Galaxy Nexus or the Galaxy Victory 4G LTE for free (not including taxes and surcharges associated with new lines of service or eligible upgrades).

Sprint also has some pretty good tablet deals going on, too. You can tack a tablet onto your account and get 1GB of data for $15 per month. If you want just the tablet, and have no other Sprint phone service, you can do that too: The?$15-per-month starting price gets you 300MB of data. Sprint says it's waiving activation fee on all of its 3G/4G LTE tablets, "for a limited time."

T-Mobile
T-Mobile will launch its seasonal sale on Black Friday,?Nov. 23, but the sale runs through Dec. 20, so you don't have to worry about hustling. You do have to worry about collecting your sale price, though: It's a mail-in rebate, so if you snooze,?you lose.

Like Sprint, T-Mo's holiday?sale centers around Samsung Galaxy phones. Here are the marked-down devices and after-rebate prices (all which require two-year agreements on?Unlimited Value plans and Unlimited Nationwide 4G plans):

• Samsung Galaxy S III - $99.99
  
• Samsung Galaxy Note II - $199.99
  
• Samsung Galaxy S Blaze 4G - $0
  
• Samsung Galaxy S II - $0
  
• Samsung Galaxy S Relay 4G - $49.99
  
• Samsung Galaxy Exhibit 4G - $0
  
• Samsung Galaxy Tab 10.1 2 - $99.99
  

Verizon
Verizon seems to be least into the holiday cheer (or the Samsung subsidies). When we checked in, the carrier recommended shoppers keep an eye on its deals Twitter feed, and outlined two current?deals for pre-paid customers:

• 2GB of data instead of 1GB of 3G-only data in prepaid plans with $80 unlimited talk/text?
  
• American Express customers get $25 account credit if they sign up for a prepaid account and put at least $25 in there before Jan. 31
  

We'll keep an eye out for other deals from the wireless carriers, but in the meantime, it looks like the Samsung shoppers on Sprint and T-Mobile are the big winners this Black Friday.

Wilson Rothman is the Technology & Science?editor at NBC News Digital. Catch up with him on Twitter at @wjrothman, and join our conversation on Facebook.

Source: http://www.nbcnews.com/technology/technolog/black-friday-wireless-deals-att-sprint-t-mobile-verizon-1C7203939

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