Ok, it's been several weeks since my last post. I'm sure all three of you have been anxiously waiting for the next tidbit of vital information that will help us all make more money in the markets. R-i-i-i-i-i-i-g-h-t.
Here's a question: With the current fighting in Isreal and Lebanon, and Isreal refuting rumors that it will end fighting soon, why is the price of oil going down amidst this Middle Eastern open fighting?
Possible answer: I heard a trader on Bloomberg radio today saying that it was discovered that during the turmoil and Mid-East oil crisis of the 1970's, oil production in the Middle East continued and oil reserves actually reached record highs. Therefore, there really never was an oil crisis during the 1970's, only speculative hype that put Orwell's 'War of the Worlds' to shame. Meanwhile, weren't we just talking about oil reserves reaching an 8-year high just last month?
Over the weekend, I heard an excellent quote. I wish I knew the name of the man who said it:
"Ethanol is today's Internet Bubble."
By the way, everywhere on TV (except my 2 favorite channels, CNBC and Cartoon Network, which is why they're my favorite) have nothing but the Israel/Lebanon fighting all day & night. I made the mistake of tuning to CNN and can't peel away from the riveting drama of reporters running from falling rockets that stalled on launch. But through all this, did anyone notice that Avril Lavigne got married today? Sheesh! What's happened to news these days???