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LATEST PRO TRADER REPORTS MARKET UPDATE PROMARKET UPDATE PRO DAILY Market Flies Through The Air With The Greatest of Ease by Lee Adler •  December 23, 2015

The market has again moved easily through the thin trading range it has crossed more than 130 times this year.

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w?s=%5EAORD&lang=en-AU&region=AU

 

All Ords finished +1.2% with some of the big moves in sectors that one gets on light volume.   Miners +4.3%, Materials +3.3% and Energy +3% were the main movers.

Over in Asia, China -0.7%, India -0.1%, Japan -0.5%, Hong Kong closed.

 

 

On to UK/Europe:

 

 

t?s=%5EFTSE&lang=en-AU&region=AU&width=3

 

t?s=%5EGDAXI&lang=en-AU&region=AU&width=

 

t?s=%5EFCHI&lang=en-AU&region=AU&width=3

 

https://au.finance.yahoo.com/

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Merry Christmas to all. 

LATEST PRO TRADER REPORTS PRECIOUS METALS PRO Gold Rangebound With Few Signals But Still At Risk by Lee Adler •  December 24, 2015

Gold remains rangebound, with no cycle projections and no indication of which way it will break, or when. However, the 4 month cycle up phase is not off to a good start so far. That needs to change.

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THE END OF THE OIL EXPORT BAN

 

The ban ended because there was no longer a political constituency in favor of it.

As WTI has converged to Brent there was no longer any subsidy to refiners,

so no relatively more cheap domestic oil and so no refiner lobbying to stop the removal of the ban.

What surprises me is that the producers didn't more forcefully lobby for the removal of the ban long ago.

They have been handing billions a year in subsidies to the refiners.

A pure gift mandated by Congress.

The irony is the producers have the Saudi's, their biggest competitors, to thank for the removal of the ban - as they have basically forced Congresses' hand.

 

However the refiners did give up an option - the future possibility of higher priced oil in the future (say above $70 a barrel - which seems to be about the shale  oil production cost price) re-creating the WTI/Brent differential and therefore re-creating the refining subsidy again.

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