2008-07-03

Today market action

Today oil and gold stocks are down hard.

I bought some more PBR @ 66.50 and 65.50. Bought some PWE too - price for me is not important there, PWE I intend to keep long time, however if price go back to 34 I will sell some.

Dow is positive for the day, thats why I now wondering may be this is not de-leveraging, but rather marker manipulation in front of 4th July. I am probably the last who will accept manipulation theory, however I don't see anything changed from 2-3 days ago:


  1. Is gold going up? YES. up for the week.
  2. Is oil going up? YES. up for the day.
  3. Is oil likely to go up? YES.
  4. Is oil demand will go up? Probably.
  5. Is peak oil here? Probably.
  6. Is dollar go down? NO, EUR/USD is up for the day with near 100 pips, but is down for the week.
  7. This one is cliché - do they stop suddenly print money :-) :-) :-)

Read this - this is the way you need to invest. You need to forget about day to day fluctuations. Technical analysis works if we have free market. Well we don't have free market at the moment.

One more cliché - Welcome to US(SR) !

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