European Central Bank is all set to increase the interest rate by .25% to 4%.
Futures are down on "one TWO punch of interest rate focus".
Most of the US stocks are down in Europe.
Looks like LOWER open ...then improvement from there.
Gold & Oil are also down ...so far.
Oil should go HIGHER...as Typhoon is going to hit OMAN in the Persian Gulf.
OMAN is an Oil producing country...and is in an area where oil shipping is very HEAVY.
I did add more RAL.TO yesterday which produces heavy oil in Egypt and Gas in Pakistan.
RAL.TO is indicated to open HIGHER today in before pre-market....@7.45AM now.
My weighting is much more on Gold,Oil&Gas,Uranium,Palladium/Copper/Nickel than on tech side.
The above reflect my belief that Gold/Oil/Metals/Uranium are SERIOUSLY UNDERVALUED.
Hurricane season and Putin's version of COLD WAR will only help the prices in those areas.
Stock prices in those are indicated HIGHER in pre-market indicators...although the underlying commodities are LOWER this AM....so far.
It pays to be very well diversified....not only I sleep well...but I have a fighting chance of coming out ahead even when the general markets are down.....so I think.
So practice the WISDOM of being DIVERSIFIED in many many sectors......totally OPPOSITE of where the HOOPLA of the day generally IS.
Good luck on wed ECB jitters...which was expected....but wall street(Hedge Funds) will TREAT it as if it came from NOWHERE.
Do your due diligence.
BLOG does not give BUY or SELL.
Saleem
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