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How to Make a Fortune With Arbitrage Trading
Do you realize that you can make an unlimited amount of money from a trading system that guarantees a solid return on your investment? Although the return is usually a small percentage of your initial investment it is a guaranteed return that always spays out! Are you interested in learning more?

Now this trading system is usually undertaken online and not through the usual channels that you would expect. You do not need a stock market trading account nor do you need any special training in stocks, bonds or equities.

In fact this trading system has nothing to do with any of the above mentioned traditional forms of trading.

So how does it work?

Well it works by placing bets online that are guaranteed to pay out. Now before you leave this page thinking that this is a gambling system - it is not!

Sports arbitrage trading, also known as sports arbitrage betting, is in no way gambling because you are guaranteed to win every single time!

Arbitrage sports betting works by taking advantage of a phenomenon that occurs many times every day between bookmakers and online betting sites.

Due to the way betting works online betting sites will often have to alter their odds of a team winning in order to ensure they make a profit from the best placed (you are actually betting against other players and not the bookmaker - contrary to popular opinion).

You also get times when online betting sites just have different opinions about the outcome of a sporting event.

How it Works
When you discover that one betting site or bookmaker has opposite odds on a sporting event to another site or bookmaker you can easily place a bet on both sides to win with the appropriate site and you are guaranteed a win.

When you use sports arbitrage betting on a sports game that has the appropriate odds differential in two or more bookmakers you always win!

You can be guaranteed between 1% and 10% on your investment with the usual bet returning about 5%. Now although this isn't much on a small stake it, because it is guaranteed winnings, you can quickly grow a huge stake and make enormous sums of money every week!

By Joe O'Reilly
Published: 5/7/2010
Aug-10-2010 04:14:50 PM

Forex Strategies that Work
A person who is new to forex trading, may find it very difficult to understand the various technical jargon or even to analyze the statistics, which are used by the old traders, investment companies, banks or hedge funds to arrive at their investment decisions. But it's not just the statistics, which form the basis of their investments, there are a number of well tested foreign exchange strategies too, which are used by all these parties, to make sound and profitable investment decisions. Any new trader, who is still learning the ropes of the foreign exchange market, can make immediate profits by using these strategies. Here are a few, forex strategies that work, and are easy enough for a fresher to follow.

Simple Forex Strategies that Work

Before learning about the forex strategies that work, there is one thing that a new trader should know, a forex strategy is considered useful and effective, if it involves the below mentioned four very important things.

* Appropriate time to enter the market
* Appropriate time to exit the market
* Use stop loss tool effectively and determine where to set the stop loss
* Make profits

The below mentioned forex strategies effectively make use of all these four criteria.

Scalping Strategy
While following the scalping trading strategy, a trader makes numerous trades in a single day, sometimes even hundred. But, he does not hold on to them for long, instead he exits from them if he feels that the market is not responding favorably. In order to make profits by using this strategy, a trader has to make sure that he buys a currency pair at the bid price, and later sells it off for a profit when it gains a bit. The most important thing that the trader should keep in mind while using this strategy is to exit at the right time. A forex scalper has to assess the market situation constantly by studying and making use of the one minute, five minute, as well as the hourly charts.

Margin Account
An effective forex strategy that any trader, especially, a beginner, should learn is to use his money cautiously. One of the ways to protect the money available from getting wasted in bad investments, is to maintain a margin account. A margin account is an account in which the broker lends money to the trader, in return for an interest amount. By maintaining this account a new trader, who may not have enough cash initially, will get some additional dollars to invest and make profits with.

Invest in Currency Pairs
Another of the forex strategies that work, is to invest in such currency pairs, which almost always move in two different directions, as far as trading is concerned. For this the trader will have to study the various data, including charts, that are available for the previous year. A trader will have to identify two currency pairs which move in opposite directions so that if one pair goes down and makes losses, it can be covered up by the other pair that will be going up and making profits. This forex strategy helps in minimizing risks to a great extent.

Read more on:

* Forex Trading
* Currency Trading
* Currency Trading Strategies

Like the ones mentioned above, there are many other foreign exchange strategies that work. Another effective forex strategy is swing trading, in which a trade is held for upto three days. In swing trading, the currency options are sold or bought when they are at the end or near the upward or the downward swing in the market. Thus, to make profits from this or for that matter, any other forex strategy, a trader should follow an appropriate entry and exit policy.

By Aastha Dogra
May-30-2010 05:42:02 PM

Forex Trading Secrets
Forex trading secrets provide much needed information to any novice investor, who is starting out in the forex market. Scroll down to know what are forex trading secrets and strategies.
Forex Trading Secrets
Forex is an international foreign exchange market, where one can buy and sell currencies of different countries in whole sale quantities. Considered to be one of the largest market for trading in terms of size, stock and shares, it is also the biggest liquid financial market (i.e. buying or selling on demand) in the world, having daily money transactions of nearly 1 to 2 trillion US dollars. The market is open 24 hours a day, 7 days a week with no longer being an investment market just for elite. In fact, its very easy for any novice or average investor to get involved with forex market, that too with very little start up money. Hence, all these parameters make forex trading one of the most profitable market for investment, which a person can easily do from home, office or any part of the world. All one has to do is to open an account with reliable and registered brokers, a computer system and fast internet connection. More on currency exchange.

Forex Trading Secrets And Strategies

Though forex trading has many advantages over other types of financial instrument trading, it does involve some minimal risks and pitfalls. However, knowing some of the best forex trading secrets can give an investor an edge while planning forex investment strategies. Also, being aware of the forex trading pitfalls and the latest technology, one will be having the actual tools required in the market to get most returns for initial investment that too with least risks. So, let us have a look at some forex trading strategies and secrets, which will surely be helpful to all fresh investors.

* The foremost forex trading secret is to know the basics of forex thoroughly, as it will give you a general idea about the trading system.
* Trade in a system, that has consistently proven to be profitable and has an acceptable drawdown. Such a system would have been backtested and also traded in a period of time to testify that it is profitable. Try getting the details of the float, risk management and examples of exact trades with such results.
* While learning the system, be very clear about the system rules and in case of doubts or queries, consult the author of the system or refer the support forum. Once you know the rules, first trade on a demo account to check whether you can follow the system well or not.
* Apply good money management rules to make sure you can survive and thrive well, in case of any drawdowns.
* Select a system that fits best with your daily routine, for instance some forex trade systems take complete 1 hour daily to trade, like 15 minutes four times a day on average. Hence, also check whether the number of times that system trades, is suitable to you or not.
* Trade patiently and properly, don't over trade, as at times there are no trades for a day and one has to wait till the next day. Also, avoid revenge trading by trading larger trade sizes, in case you had losses in your previous trades.
* It's very important to monitor your progress to know how your system is performing over time, both in terms of returns and drawdowns, and errors that you made while trading.
* If you�re deciding to trade with forex signals, automated forex, or managed forex, do your diligence to ensure that the company is authentic and ethical and can provide you samples of their results, having details of the float, risk management and exact trades which achieved those results. More on forex trading tips.

Read more on:

* Forex Currency Trading System
* Forex Strategies that Work
* Currency Trading Strategies

I hope these forex trading secrets will be beneficial to all those who want to become profitable traders, without investing much of time and efforts. However, the basic forex trading secret is to learn and practice a good trading strategy well and trade with the trend, by following the strategy rules for unlimited profits.

By Kanika Khara

May-12-2010 03:57:53 AM

Best Forex Trading Education
There are many forex trading courses and educational material that a person can find online. However how does someone go about finding the best Forex trading education information?
Certainly there are huge amounts of information that will educate you about Forex trading, but not all of it will help you to achieve your goals of making a profit rather than losing.

Below are some guidelines which should help you to find the best forex trading education course

Point 1 - Avoid Day Trading Systems

Many people when starting out in Forex trading will be enticed into thinking that the best way of making money is through day trading. Certainly if you were to ask a person who is selling a Forex trading course for details relating to their real time track record with regard to profits relating to day trading they will not be able to provide one to you.

So if you are looking to produce an income from your trading then do not waste your time on day trading.

Point 2 - Real Time Profit Records

When buying any sort of forex education course, you need to be provided with these records. If a person selling their system does not have confidence in the abilities of their system and are not investing their own monies then why should you. Unfortunately some of these courses being offered online today are from people who have either never traded in their lives or have failed when they have used the system themselves.

Point 3 - Understand It

Once you find a forex trading system which either has a track record or is willing to show their real profits then there are some other things which you will need to take into consideration.

It is important that you learn everything you can about the system in question so that you understand it completely. Unfortunately if you have no understanding of how the system works then you will not have the confidence to trust in it and follow the system through to a likely conclusion if you start to suffer losses.

By keeping these points in mind, you will find the best Forex trading education that is suited to your kind of personality. There are literally hundreds of places on the web that can offer you an education as well as free advice on Forex trading so do some investigating and you will soon find one that is ideal for you.

Ricky Lim is the owner of www.learn-forextrading.net where he has forex tutorials.

By Ricky Lim
May-2-2010 03:25:08 AM

Forex Trading Education-What You Need To Know To Get Started
We look at the basics of forex trading. This article targets people who are beginners in the forex trading market.
The foreign exchange, also known as the FX market or forex market is a market where buying and selling of currencies takes place. Not just local currencies, but currencies from all over the world. How can you make money off of the forex market?

For example, a broker might buy a Japanese yen when the yen to dollar ratio increases, then sell the yens and buy back American dollars for a profit.

What are some of the differences between the stock market and the forex market? Well, first of all, the stock market is where stocks are sold and bought whereas the forex market involves trade of currencies. The forex market is much larger than the stock exchange. Almost two trillion dollars are traded daily in the forex market. The forex market is one that involves governments, banks, financial institutions and those similar types of institutions from other countries.

One characteristic that differentiates the forex market from the stock market is that what is traded, bought and sold on the forex market is something that can easily be liquidated. This means that it can be turned back to cash fast, or often that it is actually going to be cash.

Another difference between the stock market and the Forex is that Forex trading has a much higher leverage than the stock market. When someone decides to invest in the Forex, they can expect much higher profits than the stock market, especially as their level of experience increases.

Being a global market, the forex exchange operates at twenty four hours a day. This is because the various countries involved in currency trade are located in so many different time zones. The stock exchange on the other hand is only open during the business day, and closes on banking holidays and weekends.

This are just some of the many differences between the stock and forex markets. For those who want to get started in the forex trade, some brokers provide the service of trading using the mini-forex system. It requires a smaller initial deposit usually of around $100, therefore you have less chances of losing a lot of money.

For a novice trader,the forex can be a complex jungle of terminologies and symbols. It is therefore a good idea to use an experienced broker to transact your investments as well as educate you on what this terminologies mean. Such brokers will provide excellent advice since they have invaluable experience gathered over time. Some names in the forex market are indicated using symbols. In such cases, the first half of the symbol indicates one currency, and the other half is the second currency that is being used. The symbol "usdjpy" means "US dollars" and Japanese yen. It is important to learn what currency symbols mean when learning about the Forex. There are many books and websites dedicated on teaching traders about using the Forex.

Before choosing a broker to transact your deals in the forex market, certain factors should be considered. Choose a broker that offers low spreads. The spread is calculated in pips, or the difference between the price at which currency can be purchased and the price it can be sold at any given time. Forex brokers don't charge a commission and only make their money off of the spreads.

Another thing to consider is whether the broker is backed by a well known financial institution. Don't bother with brokers who aren't. Also, look only for brokers that are registered with the Futures Commission Merchant (FCM) who are regulated by the Commodity Futures Trading Commission (CFTC). This details will ensure that you are dealing with a reliable and trustworthy broker, who will have your best interests at heart when trading on the Forex.

About the Author:
Gerald Njuguna is the owner of http://www.forextradingbrainbox.info, a site where you can read more articles on forex trading. Visit the site to read more information on forex trading education

By Gerald Njuguna
May-2-2010 03:24:14 AM

Forex Robot Reviews: Best Forex Automatic Trading Robots
Automated Forex Trading Software

Forex, the market where currency pairs are bought and sold, is the most liquid market in the world. Traders who aim to benefit from favorable exchange rate movements, trade round the clock, since the forex market operates 24 hours a day, five days a week. Currency trading was discussed in the article titled, 'Forex Trading: What is Forex'. Line, bar and candlestick charts and chart indicators like Bollinger bands, Relative Strength Index (RSI), MACD, Parabolic SAR and Stochastics were discussed in the article titled, 'Forex Trading Tips'. Forex signals, that refer to the indicators both leading and lagging, which are used by traders for the purpose of identifying appropriate time frames for buying and selling currencies, were dealt with in the article, 'Accurate Forex Signals: How to Find Profitable Forex Signals'.

For the purpose of ensuring profitable forex trades, one needs to be able to interpret the leading and lagging indicators. Since interpreting signals is not a particularly easy task, especially since leading and lagging indicators tend to produce conflicting results, forex signal systems, both manual and automated, caught on in a big way. Automated forex signal systems, that did not require the presence of the trader to execute trades, took precedence over Mechanical forex signal systems, since the latter required the trader to be present, for the purpose of buying and selling, based on the signals received, and thus was not totally effective in removing the human element. Automated forex signal systems also known as forex automatic trading robots, are based on computer programs. These programs determine the currency pair that should be bought or sold at a given point in time by generating standard trading signals. A day trader, who uses the 5 min or 15 min chart for judging the direction of the market, may use the forex automatic day trading robots to make profitable forex trades. This brings us to the issue of being able to determine the best automated forex trading software.

How are Forex Robot Systems Designed ?

Forex robot systems are designed by professional forex money managers who use past performance and trends to simulate results that may reflect the actual trading environment. They are based on hindsight which, as we all know, is 20/20. An account may not achieve profits similar to those shown, since past performance is not indicative of future results.

Forex Robot Reviews

Forex robot reviews are based on the characteristics of the automated forex trading software. The forex robot system should be capable of the following, in order to get a good review and be accepted as the best forex automatic trading robot.

Fully Automatic: The forex robot system should be fully automatic in order to be successful in eliminating the human element and ensuring round the clock trades without any supervision. It should eliminate the need for forex brokers who were previously required to manage accounts.

Low Account Investment: People should be able to trade with a low initial trading account since forex robots cannot always eliminate losses because of the very way in which they are designed.

Back Testing Should Yield Results: This is important since simulations are based on hindsight and past performance.

Inbuilt Loss Protection: It should have an inbuilt loss protection mechanism in order to ensure that people using the forex robot system do not incur huge losses because of wrong signals.

Constantly Monitored by Experts for Improving Performance: The performance of the forex robot system should be constantly monitored by experts in order to improve and optimize trades.

The reviews of forex automatic trading robot systems should be useful to traders, brokers and institutional investors. Automated forex trading software should be of use to traders who are not comfortable trading on their own, but still want to manage their own account. Institutional investors who want to invest across asset classes, in order to reap the benefits of diversification, should find the automated forex trading software useful for investing in the forex market. Brokers should be able to offer automatic forex robots as an additional service to their customers.
Jan-31-2010 10:22:59 AM

Learn to Trade Forex
Forex Trading has become a hot topic all over the world today. The interest in the forex trading has 'compounded' post the big crashed in the stock markets of US and UK, as more proactive investors have already started searching for greener pastures. And amongst all this talk of forex market and currency trading, one can't help but feel the need to learn to trade forex and keep oneself up-to-date with the present knowledge. So you can learn to trade forex, courtesy this article!

Before we learn to trade forex, let us get some answers about some basic questions you may have about the forex market. What is a forex market? Forex market is a platform on which currency trading takes place. Why are currencies traded? Currencies are traded for two basic reasons. People trade currencies for operational reasons. If you are running a business in multiple countries, you are going to need currencies of those countries. Companies who want to expand their operations into other countries need foreign currency. People involved in foreign trade need currency of different countries too. The second lot trade foreign currency to make a buck from the fluctuations in the prices of the currencies. How do you measure the value of a currency? The value of a currency is relative to another currency (pair) with which it is being compared. For example, the only way we can 'measure' the value of a Dollar, is by comparing it to the value of another currency such as a Pound or a Euro. What determines this comparative price? Like the price of everything else in a free-market system, the comparative price of a currency is determined by the shifts in the demand and supply of both currencies.

I may have oversimplified the concept of forex market. Actually, estimating the demand of a currency depends on a multitude of factors and hence is really tough. Experts in this, spend their lives working to estimate currency price fluctuations and even they don't have a 100% accuracy rate. One could say that estimating share prices is a much easier prospect as the share prices depend only on one thing: the company's performance. Currency prices depend on several things such as the domestic industries of a country, political and economic stability, inflation, policy towards foreign investment, GDP, growth and employment, etc. All this is compared to the same factors of the country with who's currency, the domestic currency is being paired. So yes, estimating price fluctuations is no mean thing.

Forex Trading: Learn to Trade the Forex

Unlike the national stock exchange, a forex market is multinational and a lot more volume is traded on it. Hence you, as an individual investor with foreign exchange, might not have much of a say in the price fluctuations and demand, as there are other institutional investors that are trading in a much greater volume.

In case you are completely unaware of the market trading, it is essential that you first enroll yourself in some financial literacy classes that will teach you the basic economics of demand and supply and how it affects pricing.

It is a good idea to learn to trade the forex with the help of a broker. At least in the beginning, a broker's advanced knowledge of this field will give you direction, if you intend to go solo someday. He'll tell you all the things about foreign exchange hedging, etc. Consult a broker with a good reputation. You may be lured by a firm that asks for less brokerage, but it is any day better to have a trustworthy broker charging high brokerage, rather than the other way around.

While your broker is managing your investment, you can keep a track on your investment using some charting software. You can also chart the progress of other currencies and keep notes. Keeping an eye on the news and the newspapers is also a good practice.

You can use fake forex trading websites for practice. There are fantasy websites that let you invest 'play money' and actually let you follow up on real currency prices. As the actual price of the currency advances, you make 'profits'.

So this is how you can learn to trade forex. It is a very dynamic market and quite thrilling to observe. But it requires patience, a keen eye and regular follow up. Use these tips and you will surely do well at forex trading.

By Arjun Kulkarni
Published: 8/31/2009
Jan-22-2010 03:39:17 PM

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Jan-20-2010 03:48:24 PM

Trade Forex for a Living

You can only trade forex for a living if you have an insane drive for success, the hunger to win (and earn big) and the tenacity of a leech. Trade forex for a living only if you have the conviction and confidence to attack statisticians who claim that only about 15% of forex traders succeed in this 'odds' market, and have the fearlessness to say 'bring it on' despite initial failures and losses. Here's an insight on how to trade forex markets...
Trade Forex for a Living
If you are considering trading forex for a living, here's a word of caution for you. If you thought that this job entailed just a few hours in front of your computer, expertise in a few technical analysis tools for trend analysis and statistical probabilities, and a secure means of steady income flow, you couldn't be more wrong. The dynamics of trading forex requires great skill and timing, the ability to withstand a few blows (there will certainly be quite a few) and a hundred percent acceptance of the few extra gray hairs that you will always seem to be growing. Only if you have the grit and determination to succeed despite failures and have the requisite financial knowledge and education, are you qualified to even consider becoming a full time forex trader. As a beginner, you can only play it low and safe, till you gain the absolutely essential exposure and experience to become a pro. If you think you have what it takes to trade forex full time, let me take you a step closer in learning to trade forex like a pro. Know more on what is forex and currency trading.

Prerequisites to Enter the Forex Trade Markets
Before you dive head first into the forex trading field, please gain adequate information on queries like, 'does anyone make a living out of forex' and 'how much capital does one need to trade forex for a living'. These two questions should be enough of a reality check on your big money schemes. It is true that you can earn huge amounts by trading in the forex markets, but it is also true that only a few highly skilled individuals actually do so and the probability of that happening is very low. If that probability in itself is low, you can just imagine how low the probability of that happening on a regular basis is. Think about it. Here's how to learn forex trading online.

Apart from this, to trade forex for a living, you need to have the adequate financial knowledge of how the forex markets work, what are the different forex trading strategies and which is the best strategy for you, i.e. which strategy is in the best alignment with your income goals, investment horizons, risk willingness, and other factors. Last but not the least, the forex market is a cruel world that shows big dreams. Know who are friends and advisors are and check their background track records before you follow them blindly. Having a fair and level head is an absolutely essential prerequisite when you think of trading forex for a living. To help you in your dream job, the paragraphs below list the main forex trading strategies. These are followed by some forex trading tips to help you trade forex for a living and make it your primary, full time job. Know more on forex training.

Forex Trading Strategies
Your trading game plan should be based on one of the following forex trading strategies or should be a combination of them. Mastering the forex trading techniques mentioned below should help you in your goal to trade forex for a living. Know more on the forex currency trading systems.

Trading Style Earning Objective Time Horizon Other Information
Position Trading More than a 1000 pips Many weeks or even months Though the stop loss is high, at about 100 to 200 pips, the position taken is of a small size, less than 1% of account size
Swing Trading Between 200 to 500 pips Between 2 to 10 days With a position size of about 2% of the account, the strategy comes with a 25 to 50 pips stop loss.
Intra-Day Trading Between 75 and 150 pips Single day timeframe Position is of about 2% to 5% of account size and there is a stop loss of around 15 to 25 pips.
Scalp Trading Less than 50 pips About 3 hours max Position sizes of between 5 to 25% of account size with a stop loss of between 7 and 20 pips.
pip = the smallest possible price change in an exchange rate

Forex Trading Tips
To trade forex for a living, here are a few forex trading tips that you need to remember and follow. Learn to trade forex by using the following tips.

* As a beginner forex trader, just aim for maximum account growth at minimal risk. You can move on to taking on increased risk for reaping greater rewards when you advance in the field of forex trading.
* If you already have another job, never leave it on a whim to trade forex for a living and making big money. Gain experience and exposure first. Once you are adept at the workings of the forex markets and have turned pro in skills and market timing, you can consider making forex trade your full time occupation. Till then, make it a secondary job, parallel to your primary one.
* Learn all the possible money management skills for they are absolutely essential for survival in this rough and tough field. To trade forex for a living, you must learn the tricks of controlling losing bets from cascading out of control. Money management will also teach you to retain your winners in the 'winners' category over the longer run.
* Always trade in currency pairs, for this will serve as a kind of hedging technique. Open positions in forex markets, especially when you have taken large positions in a single currency, leave you with very heavy risks of potential losses in case of adverse exchange rate movements in that particular currency.
* Do a proper trend analysis to know your entry and exit positions. In this trade, beginner's luck always wears off and it is sheer skill and precise market timing that will let you survive the long run. Brush up on your accurate forex signals knowledge.
* Leave your personal feelings out of this, especially greed, for it can be your downfall. Exiting positions at the right time is the only thing that will make you money. Waiting for higher gains which may never materialize is a common folly. Trust your intuition and experience.
* Great successes can only be based on proper defenses. Always hedge your risks. Though these may reduce your upscale profit potential, these will also put a floor on your potential losses. Remember that when you trade forex for a living, it is your primary source of income, and it is your duty not to put it under unnecessary jeopardy.
* Failure is a part and parcel of the job so do not make losing money your final failure. Persist with your goals and learn from your mistakes. It is always best to take time out from trading after a loss or failure, for this will help you view your mistakes objectively. The forex market is too fickle to stay down, or up for that matter, forever.

Know more on:

* Best Forex Automatic Trading Robots
* Automated Forex Trading Softwares
* Forex Trading Software for Online Forex Trading

I hope you can now make an informed decision on whether you have it in you to trade forex for a living. Granted that the filed has scope for big money, but like all other things we do for a livelihood, this too has some pros and cons. Forex trading is definitely not for the faint-hearted. If it is risk you crave, you have other, marginally safer, (and easier to learn) options like stock trading and futures trading. Options trading and forex trading require much more in the mind than in skills. If you think you have it, do trade forex to make a living, as the gains can be especially high.

By Sayali Bedekar Patil
Published: 12/11/2009
Jan-8-2010 02:04:50 PM

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Nov-25-2009 10:28:48 AM

Gold prices to go even higher
Gold prices to go even higher
Posted: November 25, 2009, 11:30 AM by Peter Koven
Mining, gold, gold price

In the least surprising news of the day, yet another institution has hiked its gold price forecasts because of continued positive market sentiment for the yellow metal.

Desjardins Securities analysts Brian Christie wrote in a note that gold continues to be "strongly supported" at these record levels and will continue to increase into 2010. He cited three main reasons: rising gold demand from ETFs, continued low interest rates, and rising central bank demand.

On the ETF side, he pointed out that ETFs added 16 tonnes of gold to their holdings in just the first few weeks of November. With regards to interest rates, he noted that both the United States and Japan have indicated that they plan to keep rates low for an extended period. And Mr. Christie pointed to plenty of evidence that central banks are looking to diversify their reserves and add more gold (most notably, India's recent purchase of 403 tonnes from the International Monetary Fund).

He raised his 2009 forecast for gold to US$960 an ounce (from US$955) and increased his 2010 forecast to US$1,250 an ounce (previously US$1,125). He also raised his silver forecast for 2009 to US$14.60 an ounce (from US$14.50) and to US$20.50 (from US$19.00) for 2010.

Peter Koven
Nov-25-2009 10:28:06 AM

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Oct-27-2009 03:42:18 AM

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Aug-11-2009 02:55:00 PM

Iberdrola Results Good News For U.S. Wind Power
The world's largest developer of wind farms remained profitable in America despite an economic downturn and falling fossil fuel prices.
Iberdrola Renovables, the world's largest developer of wind farms, on Wednesday announced declining net income on flat revenue for the first half of 2009. But its results in the U.S. reflect a wind market that has remained profitable despite an economic downturn and falling fossil fuel prices.

The company, a subsidiary of Spanish power utility Iberdrola SA ( IBDRF.PK - news - people ), earned 149 million euros for the first half of the year, down 24%. Revenue rose 1% to 948 million euro. Revenue from Iberdrola's Spanish wind farms fell as global fossil fuel prices declined and less windy conditions caused electricity production to fall.
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Iberdrola Renovables' ( IRVSF.PK - news - people ) results in the U.S., where it is the second-largest wind developer behind Florida Power and Light's ( FPL - news - people ) NextEra Energy subsidiary, improved on stable renewable energy prices in states such as Iowa, California and Texas, where renewable energy standards have guaranteed green energy demand.

EBIT from U.S. operations for the first half of 2009 rose 67% to 60.2 million euros, partly offsetting declining profits in Spain. Iberdrola installed 1100 MW of new wind capacity in the U.S. during the past year, raising its U.S. total to 3100 MW. Spain is the company's biggest wind market, with 4730 MW installed.

"In the United States, Iberdrola gets low interest rates, stable energy prices and improving renewables incentives," says Michael McNamara, a Jefferies International cleantech analyst in London. "On top of that, the cost of a new wind farm is falling, with turbine prices and balance of plant going down. That's a very potent combination for returns, though it's too early to call a trend."

Still, all those factors should help Iberdrola turbine suppliers such as Spain's Gamesa, Vestas, General Electric ( GE - news - people ) and Siemens ( SI - news - people ), as well as Florida Power and Light, the largest renewable project developer in the U.S.
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Iberdrola pays 3.6% on U.S. debt, reflecting the company's financial strength--much of the funding for its big wind projects comes from its parent utility. The company's operating expense per megawatt of generating capacity fell by 8% year over year. Gross margins increased 9.5%.

The company will be able to take advantage of U.S. Treasury Department grants covering 30% of the upfront cost of new green energy projects. The grants, provided for in President Obama's February economic stimulus package, are an alternative to traditional production tax credits and will be available starting in the second half of this year.

In Spain, Iberdrola hedged forward energy sales for 24 months at a reference price of 46 euros per megawatt-hour of electricity produced. "Iberdrola Renovables wants price stability," says McNamara. "They were looking at high earnings volatility in Spain, which they wanted to reduce. For a utility, stability is not a bad thing even if they give up potential upside."

McNamara has a hold on Iberdrola Renovables shares with a price target of 3.65 euros. The shares, which are listed on the Madrid Stock Exchange, trade at 3.22 euros. Iberdrola has plans to introduce American Depository Receipts through Citibank at a 5:1 ratio, or 16 euros per ADR, although it has not announced when the ADRs will become available.
Jul-23-2009 10:41:28 AM

Oil slips as US crude supplies rise
VIENNA � Oil prices fell below $65 a barrel Wednesday after data showed a rise in U.S. crude inventories, a sign that consumer demand remains sluggish in the world's biggest economy.

Benchmark crude for September delivery was down $1.01 to $64.40 a barrel by noon European electronic trading on the New York Mercantile Exchange. On Tuesday, the August contract expired, rising 74 cents to settle at $64.72.

U.S. crude inventories rose 3.1 million barrels last week while gasoline supplies gained 1.3 million, the American Petroleum Institute said late Tuesday. Analysts expected the API numbers to fall 2.0 million barrels, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

Investors will be watching for inventory data from the Energy Department's Energy Information Administration on Wednesday for more signs crude demand may be waning. The API numbers are reported by refiners voluntarily while the EIA figures are mandatory.

Oil prices have risen from $58.78 a barrel two weeks ago on stronger than expected second quarter corporate earnings. Some of the improved company results have been the result of cost cutting such as layoffs, which in turn is dragging on consumer demand.

Federal Reserve Chairman Ben Bernanke said Tuesday that the economy is improving, but that any recovery will be slow due to rising unemployment.

"During the last week, markets have seen a significant upward trend with oil rising almost 9 percent and stock markets by some 7 percent," noted Vienna's JBC Energy. "Nevertheless in our view, this is a result of the temporary positive sentiment among financial markets rather than a substantial fundamental improvement in the US economy or oil markets."

Others also were cautious about the economy, and its effects on oil.

"The better profits is a good sign, but I want to see more macro numbers improve," said Clarence Chu, a trader with market maker Hudson Capital Energy in Singapore. "High unemployment is still a problem going forward."

In other Nymex trading, gasoline for August delivery slipped by over 3 cents to $1.78 a gallon and heating oil dropped slightly to $1.68. Natural gas for August delivery was steady at $3.71 per 1,000 cubic feet.

In London, Brent prices fell 65 cents to $66.22 a barrel on the ICE Futures exchange.
Jul-23-2009 10:40:55 AM

WTI prices fall; crude inventories down
Prices for West Texas Intermediate crude were a bit lower in New York trade Wednesday after the US Energy Information Administration released its weekly inventories data, which showed that crude oil stockpiles fell less than expected last week while gasoline and distillates inventories both increased despite a drop of 2.1 percent in refinery utilization during the week.

The EIA reported that crude oil inventories fell 1.8 million barrels last week, less than expected, to 342.7 million barrels, while gasoline stockpiles added 800,000 barrels to 215.4 million barrels and distillates in storage were up by 1.2 million barrels to 160.5 million barrels.

WTI September contracts dropped 21 cents to $65.40 per barrel on the New York Mercantile Exchange and went as low as $63.76 per barrel earlier, but Brent crude added 32 cents to $67.19 per barrel on the ICE Futures Europe exchange in London.

Despite gains in gasoline and distillates stockpiles and declines in demand, Nymex August gasoline futures added 3 cents to $1.84 per gallon while September heating oil futures wee up a cent to $1.74 per gallon.

Demand for distillates fell 11 percent in the past four weeks from last year�s levels.

The retail prices of gasoline rose less than a cent overnight to $2.461 per gallon on average nationally, it�s first rise in a month as gasoline remained 23 cents cheaper than it was a month ago.
Jul-23-2009 10:38:51 AM

Energy Bulletin
peak energy in the news:
San Francisco peak oil task force report
San Francisco Peak Oil Preparedness Task Force, City & County of San Francisco

San Francisco was born at the beginning of the oil age, and the city has flourished during an era in which fossil fuels became the foundation of our economy and society...Today, the City and its inhabitants are utterly reliant on fossil fuel energy: 84% of the energy consumed in San Francisco comes from oil and natural gas.
Jul-23-2009 10:37:48 AM

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