International Food Poisoning
Well, I was slightly wrong about my prediction yesterday. I had said OPEC would cut production, and that the prices would spike slightly only to begin dropping again as the news faded and the economy slowed further on bad tidings.
2 out of 3 isn’t bad though. Is it?
Because they did cut production… by 1.5 million barrels a day to be precise. And the change didn’t make any lasting difference. But there was no spike upward. Not even a little. Not even at all.
Instead, it just fell, as did everything else this morning on further sobering data. It’s a good thing it’s Friday, because this kind of news would be close to unbearable on a Monday. In early morning trading, sweet crude hit $63.15 after losing a whopping $4.69.
OPEC apparently doesn’t matter much at the moment, regardless of their moves. Traders’ actions are proving that compared to the global economy, the cartel and their decisions mean little.
And according to the stock markets, the global economy isn’t happy. So why in the world should people have to pay high gas prices on top of losing their 401k plans? It just doesn’t seem right… or profitable.
Then again, very few people made a profit today, as European, Asian and U.S. markets experienced the stock market equivalent of food poisoning after digesting various disagreeable news.
The thing is that while the news - that the global economy is on the brink of a recession - isn’t news at all. This is the same information we’ve been fed for weeks. You’d think investors would get used to it, but apparently there are a lot of weak stomachs out there.
Bonds did well today, but that was about it, as even gold took another unprecedented fall, showing more proof that this market is acting off of fear and little else at this point.
http://www.smartprofitsreport.com/archives/2008/dividend-stocks.html
Friday, October 24, 2008 — by Jeannette Di Louie, Assistant Editors of Mt. Vernon Research
How One Company's Groundbreaking "Cancer Blaster" Could Make You Rich
While the World Health Organization predicts 12 million people will develop cancer in 2009, this little-known company is fighting the surge with its amazing cancer-killing device...
Although most people know nothing about it, this "Cancer Blaster" has already saved thousands of people around the world... Like Ohio resident, Caroline Brubaker, who says "with just three, pain-free outpatient visits, I had my life back" or Richard Swanson of Arizona who ended up cancer-free after just 4 hours of treatment...
The best part is, the company recently discovered an extraordinary breakthrough that could go mainstream in a matter of days... Read the full details to find out how you can get in ahead of the event - and be on your way to booking truly incredible gains.
|
Comments
Due to the amount of comments we receive Smart Profits Report will not be able to respond to all questions. By submitting your comment you agree to adhere to our Comment Policy.
Got something to say?
