Oil is a slippery substance easily held hostage to supply disruptions through natural events, wars, cartel agreements and political decisions.
A few days ago I spoke at a conference with economist Dr Nouriel Roubini, who is widely credited with predicting the global financial crisis and the 2008 market collapse. He outlined three possible global economic scenarios.
The developing behavior on the Dow Jones Industrial Average Index hints at a train wreck. Caution is the order of the day.
The oil price is the foundation for inflation in expanding economies. The collapse of the typhoon flag pattern on the weekly oil chart is not a signal of a change in the trend for oil prices. The fall from near $114 to below $100 is a correction in the oil price, but it is not a change in the trend. This behavior sets a higher price target for oil as the upward trend continues.
Many people believe the market is manipulated by large investors and fund managers. Some people believe the market is a type of gambling.
A courtyard house next to Beihai Park that was once part of a Qing dynasty palace is being advertised online for 420 million yuan and attracting the interest of State-owned enterprises.
Name | Value | Change | Time |
Shanghai | -0.58% | Thur | 2,794.27 |
Shenzhen | -0.26% | Thur | 12,392.93 |
HSI | +0.06% | Thur | 22,530.18 |
NIKKEI | -0.11% | Thur | 10,071.14 |
Dow | +0.74% | Thur | 12,719.49 |
Nasdaq | +1.36% | Thur | 2,872.66 |