Daily Market Commentary for October 2, 2008 Written for day traders, active traders and investors. A review of the market activity for the day, economic data plus, world news from Millennium-Traders.Com
Crude oil price
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If you are growing tired of the continuous rise of the price of gasoline and of humankinds growing disregard for the natural environment then it may be time to start seriously considering the benefits of biodiesel fuel. The reasons are many why this alternative fuel source could be the answer to our future energy problems, but one thing is certain, reliance on fossil fuels is a dead end road because sooner or later they will run out.
The Securities and Exchange Commission Commissioner Christopher Cox admitted the SEC made mistakes in failing to discover Bernie Madoff’s Ponzi scheme. (read more)
Looking back to analysts reports from last year, the momentum of crude oil prices seemed hard to counteract. As oil prices rose, many economists predicted long-run oil prices above $200 per barrel based upon growing international demand and a leveling off of global supplies. Forecasting the future path of crude oil prices is significantly more difficult, as international demand patterns and new supply exploration depends on a wide variety of factors that can be difficult to predict.
Ongoing surge of energy costs put the whammy on United Parcel Service (NYSE: UPS) and Dow Chemical (NYSE: DOW) as they warned of increased shipping costs. Jet-fuel costs by UPS have increased by 30% for the quarter and the company must allow at least two months to recover the expenses through surcharges on customers. (read more)http://www.millennium-traders.com/news/newscommentary.aspx
The present economic situation looks bleak, but you can work with an economy in the doldrums to make money – if you know how. This article shows you why you shouldn’t “follow the crowd” and how to turn other people’s panic into profit.
After falling back from highs last year over $150 per barrel, oil prices have fallen down below $50 only to rise to $70 today. These shifts reflects changes in speculative practices as the trading markets changed with shifts in investment banking, while more certainty in the global economy has helped solidify prices in an intermediate area between the recent peaks and valleys.
Exactly what is causing food and fuel prices prices to rise and property values to fall? And why you need consider consolidating your debt now to beat the rising credit crunch.
The stock market was down as much as 247 points on the Dow30 at the last hour and made a last hour comeback after a report of Obama considering making mortgage subsidies to homeowners.
The last week of October was something else. Heavy fiscal year-end selling for mutual funds seemed to put a damper on good news and push stocks and commodities lower. October is historically a tough month on the US market with mutual funds locking in profits on their books.
While the long term price of oil may, in fact, be headed upward. In the short term we are faced with an oil glut of unprecedented proportions. This p
Just as it is a good idea to learn from the past, we can glean some lessons from looking at crude oil prices history.
After a volatile 5 days, world stock markets just managed to close last 5 days in the black. It was a week of two halves with the good work from the start of the week being undone in the second half as traders slipped into reverse gear on Thursday and Friday. At least markets managed to hold the gains from the previous week which in the context of the bear market is no mean feat.
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