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Jun
30
Oil Speculators Calling The Shots On Wall Street
June 30, 2008 | 4 Comments
I expected bearish sentiments in the stock market for this week because there is simply no good news on the horizon to spark a revival. When I say revival, I mean sustained gains in grounds of over 100 points, not 20-30 points as this usually implies a zigzag pattern for further slides.
Indeed, on the last […]
Jun
29
High Oil Prices Forcing Vehicles Off The Roads
June 29, 2008 | 3 Comments
And you thought oil at $135 is unbearable. Well, oIl breached the $140 level over the weekend to settle at $142. Advocates of peak oil theory are hailing the increase and exodus of smart money from the wobbly stock market into the commodities sector.
Saudi Arabia has promised to increase oil production by 200,000 barrels a […]
Jun
27
Inexorable Slide In Stock Market
June 27, 2008 | 2 Comments
The ST Index closed today at 2955.91, down by 25.04 points. Gainers/losers stand at 173/409 while 1.077 billion shares were traded.
No surprise for the red ink given that Dow Jones tumbled 358 points to close at 11,453.42 (its lowest finish since Sept. 11, 2006) due to record high oil prices and fresh troubles brewing in […]
Jun
25
Dow Jones Boosted By Oil Supply Gains
June 25, 2008 | Leave a Comment
Stock market actions on Wednesday were pretty much a repeat of what we have seen in the past few weeks. ST Index continued its descent to lower lows of around 2930 in the morning, the major culprit being a Dow Jones drop of 32.49 points to 11809.87 yesterday.
Fortunately, the situation improved after lunch break and […]
Jun
24
Previously, I wrote about adverse climate changes leaving trails of destruction around the world. Like depressing news on financial markets, subprime and credit crisis, there seems to be no end in sight for storms and floods either.
The latest casualty is Philippines. Fengshen (or “God of Wind” in Chinese) is the sixth typhoon to reach Philippines […]
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