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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: GREENLAW4-7 who wrote (109200)	9/12/2008 12:05:07 PM
From: Broken_Clock	Respond to of 206326

Posted by: JeffMasters, 3:26 PM GMT on September 12, 2008 Hurricane Ike is closing in on Texas, and stands poised to become one of the most damaging hurricanes of all time. Despite Ike's rated Category 2 strength, the hurricane is much larger and more powerful than Category 5 Katrina or Category 5 Rita. The storm surge from Ike could rival Katrina's, inundating a 200-mile stretch of coast from Galveston to Cameron, Louisiana with waters over 15 feet high. This massive storm surge is due to the exceptional size of Ike. According to the latest wind field estimate (Figure 1), the diameter of Ike's tropical storm and hurricane force winds are 550 and 240 miles, respectively. For comparison, Katrina numbers at landfall were 440 and 210 miles, respectively. As I discussed in yesterday's blog entry, a good measure of the storm surge potential is Integrated Kinetic Energy (IKE). Ike continues to grow larger and has intensified slightly since yesterday, and the hurricane's Integrated Kinetic Energy has increased from 134 to 149 Terajoules. This is 30% higher than Katrina's total energy at landfall. All this extra energy has gone into piling up a vast storm surge that will probably be higher than anything in recorded history along the Texas coast. Storm surge heights of 20-25 feet are possible from Galveston northwards to the Louisiana border. The Texas storm surge record is held by Hurricane Carla of 1961. Carla was a Category 4 hurricane with 145 mph winds at landfall, and drove a 10 foot or higher storm surge to a 180-mile stretch of Texas coast. A maximum storm surge of 22 feet was recorded at Port Lavaca, Texas. wunderground.com

To: GREENLAW4-7 who wrote (109200)	9/12/2008 12:09:32 PM
From: The Reaper	Read Replies (1) \| Respond to of 206326

With the dollar getting crushed today, you'd think that oil would be up a couple of bucks at least. There must be a ton of oversupply on the market right now.

To: GREENLAW4-7 who wrote (109200)	9/12/2008 12:53:12 PM
From: kollmhn	1 Recommendation Read Replies (2) \| Respond to of 206326

I wouldn't be too optimistic about Monday. Even if LEH gets married this weekend there is MER to worry about. The spread versus MS has widened to 21 bucks (was 18 yesterday). Then, there's AIG to sweat. Stock is down to $12.70 and bleeding like the loser in a machete fight. We need a nice shake out, no?

To: GREENLAW4-7 who wrote (109200)	9/12/2008 3:38:07 PM
From: Q8	Read Replies (1) \| Respond to of 206326

OT... Greenlaw...credit defautlt swaps increasing faster for AIG than LEH..translation.. CDS are a common type of derivative contract that pay out in the event of default. When the difference, or spread, between rates on these contracts and rates on U.S. Treasury bonds increases, that suggests investors are more worried about a potential default. So there is worry that AIG could be next.. doubt it.. as AIG is a Dow component and then the Plunge Protection Team will come in to rescue the market.. google PPT.. very interesting... Everyone have a good weekend and see you on Sunday for the live extended oil trading..