bobby beara,
RE: "I hope we don't get any bad news like after the 3/10 doji."
For one, my guess is that the OPEC numbers may not be as favorable as the US hopes. I suspect that OPEC will attempt to emulate Big and Easy AL with baby steps in oil production as he does with interest rates. Like many oil companies, OPEC economies are just recovering from the "Jakarta goof" and the devastating drop in energy prices and will be a lot more paranoid about falling prices than rising ones. They also tend to look at prices as a long term average, like twelve trailing months.
Finally, sentiment wise, the thinking is like this: they were enduring their legs being broken out from under their socialized economies (wherein rebellion/revolution is an inherent danger) while we were enjoying a sailor's holiday fueling our SUV's with sub $1 gas, building larger houses and carrying on numerous other energy guzzling activities. Now that we are crying the blues about "high" (not really) fuel prices, they must ask where was compassion when OPEC was hurting?
Of course what am I thinking, Tecchie stocks care not for interest rates or oil prices, they live on air!
But don't get me wrong, I don't spitefully wish the demise of the Nasduck, there is after all a loose positive correlation between the Naz and OSX lately.
I just stick with what I know, resource stocks. More of a challenge anyway, ggg.
Best Regards,
Roebear |
