Markets were meandering till the closing time ..when it showed some buying interest & NASDAQ & S&P 500 closed GREEN after finding support...
S&P 500 low today was 862.02..right in the support zone of 850-860......
There is lack of interest in market these days as every trader is waiting for a strong TAPE to get IN......
There were more advancing stocks today in both NYSE & NASDAQ.....
Wed is Crude inventory data...which keeps showing higher than expected build by millions of barrel of crude.....my question is where are they keeping millions of extra inventory & WHY...when there IS no demand for it..OR a better question IS...is the DATA accurate???? I think NOT????
Shippers,Gold,Oil,Ag & Tech stocks did well today.......
Solar stocks were Down thanks to downgrade of FSLR by Citigroup.....
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Your skepticism of the crude oil numbers is well founded. This is most likely a trailing event from last years demand. We should use up the surplus in six months. Oil is still very much a limited resource.
Best Regards
Hi Standards,
Crude is being manipulated by the same group which gave us $148 price...
Oil consumption has decreased by less than 1 million barrel/per day as per yesterday's report by DOE... OPEC has cut ove 4 million production per day....you do the math.....ratio is 4 to 1 cut a HUGE number.....?????
Saleem
Hi Saleem,
Yes I agree things do not add up. DOE reports oil consumption in US only? OPEC sells to many nations? What amount goes to the US? I don't know one way or the other. Yet I can't help, the feeling that we are being farmed like wheat in the field. And there is nothing we can do about it.
Good luck.
Hi Standards,
When GS,MS were pushing oil UP..they had theories going that world is running out of oil & CNBC was full of experts saying that we have a shortfall of oil by 1 million barrel per day worldwide...
Well...we are keen observer of manipulation by GS ,MS & others....
Saleem
Post a Comment