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Strategies & Market Trends : Ask DrBob
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From: shadows10/21/2008 1:46:34 PM
   of 100058
 
The financial news background is so bad that its hard to see how investor confidence in stocks can be restored,the wealth destruction going on is simply incalcuable!
The trend for almost everything is significantly down(as evidenced by the charts)as our policymakers have lost control of the situation and are obviously covering up the true extent of the horrendous losses in the financial system.
Oil,for example,was a turbo-charged position of the investment banks speculative "Prop.Desks" and Hedge Fund activities.Once the banks began to unravel so did their positions,of which Oil was just one.Trading today at $70,it is still way too high and in the context of a global recession it should trade back to $50 quite easily.Stocks too look set for another massive selloff before the month is out.
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