Thursday, May 20, 2010
Phil Flynn: Expiration Aberration
Of course one has to remember that these forecasts were made before the depth and gravity of the European financial crisis was clear to the market. Oh sure, the Fed did mention that the Greece crisis could impair US Markets but I do not think that they realized how bad the situation was at that time.If the turnaround in oil was all about growth expectations then why did we not see more confidence in buying some of the other commodities? Unless of course you assume that oil is going to be a leading indicator of economic growth. And the other reason we saw a snap back was due to the fact that oil is over sold.....Read the entire article.
New Video: Don't be Surprised When One Euro Equals One Dollar... It Could Happen