When it come to insanity, no one can come close to the US Stock Market. They contradict a statement made to contradict an earlier statement issued to contradict the statement made in contradiction to an earlier statement..(I will stop).
Don’t take these dates seriously, but the sequence of events were not wrong.
June 15th: Stock markets loose. Dollar rises and commodity stocks rise. Oil crosses $70 mark.
June 16th: Stock markets loose. Dollar declines and commodity stocks plunge. Oil crosses $71 mark.
June 17th: Stock markets loose. Fear of inflation, commodity stocks rise. Oil falls below $70 on demand.
June 18th: Stock markets gain. Inflation is under estimates. Oil raises par $70 amid demand.
This doesn’t make any sense at all. The commodity stocks rose and fell in less than 24 hours across the globe. This is insanity at its best. In few hours the oil futures (read the word futures) experience demand and slump, can anyone explain that;but, regardless the oil at the local pump is always on the rise. We’ve paid close to $4 when the barrel price was more than $140 and we are paying close to $3 when the barrel price is close to $70. In one freaking year the oil demand supply fluctuated more than 50% with the price drop of only 5%, again any explanation. Consumers as always are the fools here. Interest rates rose to more than 5 and 3 quarters in the past few weeks amid this chaos and unemployment and the news says the housing market is improving (a big BS) amid reports that the construction is down and new applications for re-finance fall to all time lows. Common guys! all those wits sitting at the Wall Street think people are crazy and illeterate to listen to this nonsense? Give us a break. At least they should keep a headline steady for few minutes and not issue a contradictory statement within a matter of few minutes.
The market had lost its sense long back. Ethics are distant stars and social responsibility is far sighted. Had we not had enough? I do not know, someone please explain me (all those financial industry expert shits)!
The biggest joke in yesterday new is “continuous unemployment claims are lower than last month, while 640,000 new applicants file for unemployment benefits”. Does this statement tell you anything other than how insane it is! The rule that the markets follow is simple. Every graph needs to have some text beside and they write whatever they want. Who knows one day they say that, “early sun-shine prompted markets shoot up higher, sever sun prompts markets lower”.
Whoever said that reading a women is impossible, try the stock markets.