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A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.

Wednesday, August 20, 2008

Oil inventories = Bad for Stocks

  • 10:36 a.m. U.S. gasoline supply down 6.2 mln brls
  • 10:36 a.m. U.S. distillate supply up 500,000 brls
  • 10:36 a.m. U.S. crude supply up 9.4 mln brls last week

Well talk about an outlier on the high side......

Where do we go from here analysis:

HUGE draw can only mean:

  1. NO demand or activity thus no growth = BAD for stocks
  2. Huge glut will mean OPEC production cut and thus HIGHER prices = BAD for stocks
  3. Gasoline supplies actually down meaning HIGHER gas prices screwing the consumer =

Bad for stocks

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