The amazing run in the equities market continues and this increase in oil only deepens that run.
Reuters: Oil rises above $78, inventories support
Oil inventories have fallen elsewhere in the world over the past week, including Northwest Europe and Japan, the world's third largest oil consumer.
4 comments:
Expensive gas again just what we need? Maybe its for the best though something has to force a conversion. The trouble is most people can't afford the gas let alone a new car.
I think you were saying that some of your insiders were predicting $40 per barrel in 2010. I hear both sides with the DOW going up to 12K and the DOW going to 8K.
I don't have a crystal ball , who knows? The Plutocrats play with the market for their own benefit and the reasoning of the Gods is always a mystery to the peasants isn't it?
When the DOW hit its bottom in March - lots of exceptionally wealthy people scooped up the once highly valued equities assets of people who were dropping out of the market from 10K on down. I tried to convince several people to stay in and if they had they would have at least recouped 75% of their worth as of Thursday. I think the DOW will rise more in the near future, but I am wrong a lot.
The only way that you can play the equities market is to stay completely in contact with it and try to sort your way through the stocks. Truth is there were stocks out there that were increasing their dividends right through the depth of 2009 even though the value of the asset was taking a huge hit. Now some of those assets are actually higher than the peak in 2008 with the DOW up very high.
You can play the market but you have to devote a lot of personal time to it. I'm talking hours each day.
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