Tuesday, February 5, 2013

Oil, Middle East, and Argentina speculation.

Argentina's stock market has been one the best performers in world this year....and just another example of how stock market strength does not equal economic strength... pls add Argentinian peso to laundry list of non-major currencies that are worthless.  They recently implemented some price fixing that will freeze all grocery prices for 2 months.  This should be effective at clearing all non-perishables off the shelf as people exchange spend now to avoid higher prices when the two month freeze is up.  I think its a matter of time until wal-mart closes shop and attempts to GTFO before its too late.  

In other news.... while everyone has forgotten about Egypt and friends, it appears they are on the verge of rekindling the unrest that brought about the oil madness earlier in 2012.  Compounding this with the present market sentiment means one thing to me:  Oil prices are not going down.  So with out further ado, I think I promptly add some oil derivatives to my portfolio, and add to my position on dips.  I'm initially targeting ~$100/barrel crude in the next month or two, and if I hit that target fast I may continue to look for 105-110.

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