Morning Reading – Monday, February 28, 2011

JESSE’S CAFÉ AMÉRICAIN: Gold Daily and Silver Weekly Charts – Bear Raid Confirmed and the Silence of the Lambs

From the quick bounce back it does appear that the big flash crash in silver in late day thin trading was a bear raid after all. We will know more when the Comex releases final numbers.

Calculated Risk: Buffett on Housing

A housing recovery will probably begin within a year or so. In any event, it is certain to occur at some point.

The Slope Of Hope: This Market Is All Long

After being beaten for months, shorts have truly capitulated as represented by NYSE short interest. We’ve seen endless short covering rallies the past few months but those rallies are running out of fuel. What happens when the market begins to roll over? Longs are all invested with cash levels at record lows, while shorts have covered. Who puts a bid in the market?

FT Alphaville: What Libya crude cuts mean for tanker rates

The net effect of all the crude reshuffling will see a reduction to the amount of total crude oil trade on a tonne-miles basis, due to the cut in West Africa to Asia trade.

FT Alphaville: It’s an Irish bank eat Irish bank world

A Monday morning reminder to Ireland’s new government of a not so small banking problem, this.

FT BeyondBRICs: China’s airport overkill

Around three quarters of China’s 175 gleaming airports are losing money, many are barely used and some don’t have any flights at all.

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