Arch, thanks. Back in October '08, all of these factors made perfect sense, and I bought oils.
"The market is telling you, and we're getting data to confirm, that the worst of the worlds recession is over. It may not be long until we hear rumours about "booming" again."
In 2007 the market was "telling me" lies. I sold the house, went to cash and missed a world of hurt.
Now the market's "telling me" that everything's gonna be fine. I'd like to believe that, but we're still on the edge of disaster. We're in the middle of a global liquidity pump, and stock valuations are unrealistic: hothouse flowers, not natural.
We're awash in crude: inventories are at historical highs, with another ~ 300 million barrels waiting offshore, and OPEC nowhere near capacity.
Don't get me wrong: you could be right! Your input, and anyone else's is appreciated. I just can't square the knowns with what the market's doing.
I've been wrong before, many times, but it's difficult to put your money down when you just don't believe what you're seeing.
Jim |
