This whole Russian/ Georgian drama could could cause some big problems for our foregone feeling that oil is on its way to $100. They evidently tried to blow up a Georgian pipeline that is 30% owned by BP and supplies 1% of the worlds oil supply. If this happened two weeks ago, and if it happened somewhere in the mid east, oil would have popped through $150-160 in a heartbeat. It will be interesting to see how oil will be affected this week, barring a serious cease fire. This is fast becoming another Russia-Afghanistan situation.
Sunday, August 10, 2008
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- upsidetrader
- I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.
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