Whoa... one portfolio grew anyway - thanks to HWD.
I was definitely a bit surprised, but there are murmurs of potential QE3 according to GFT (sorry if I'm putting words in their mouths). And since FTSE closed with a loss of only -0.06% today, I'm thinking the bulls still stand a solid fighting chance even though Nikkei broke below ten five.
Did anyone mention that Libyan oil production is only twelfth largest in the world? Selling is overdone if you ask me. And a few days of $100+ oil isn't going to kill anyone. If it maintains the $100+ level for several weeks or a few months, that's a different story. But Saudi Arabia is already happy to be selling at this level. Sure, we'll step up to the plate and increase production. We'll even throw in a $36 billion measure to beat civil unrest.
If I had more moola, I would potentially look into some of the beleaguered oil stocks. But why bother? That sector is highly profitable, but so is the financial sector. The financial sector is still highly undervalued - especially if QE3 is really going to be on offer.
I'm starting to actually like Bernanke, but don't tell him I said so.
+1.54% on the SBA
-0.41% on the Roth IRA
The growth in the SBA trumps today's Roth IRA loss. So this just reinforces my theory that we're at a turning point in terms of risk.
Nikkei was the only major stock index that managed to pull off a -1.19% loss - and this was before Saudi Arabia mentioned boosting oil production and the positive US jobless claims announcement.
Now if only C will cooperate. But with both Soros and Paulson cheering the Crown Prince on, it can only be a matter of time...
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