What was paricularly interesting is that someone started
to unload stock. Drove CMR to 55. Looked like it was
going to keep going down, then it turned around and ended
up for the day--on a day that was a general disaster for
the market. Be interesting to know what caused someone
to sell at any price and then what brought in a buyer(s).
The fall in the euro and the rise in the price of oil
is delivering a one two punch to the US economy. The
trade deficit is astronomical. Watching the screen today
I saw just about every typeof stock take a hit except
financials and some oils. Interesting situation in oil
stocks. Players,investors are caught between a rock and
a hard place. Is OPEC going to meet US demands and lower
prices? Will prices and inflation continue to climb?
Which way do you jump? Buy or sell?
similar question,of course, for base metal producers.
Oil goes up and drives up their costs. Euro continues
to fall and decreases their sales. BUT oil goes down
and lowers production costs. That would help in one way
but might keep the US dollar up. Tricky, tricky situation.
Best situation: oil comes down and stabalizes around
26-28dollars a barrel. US dollar slides against Euro,
yen.
Oh, how we, the faithful long time camp followers of CMR,
that hussy, are cast about by forces beyond our control.
Still, she seemed to regain a little of her respctability
today.
And, nope, when I tried the link to read high praise
of CMR, I wasn't able to do so. |
