Source:
http://article.wn.com/view/2011/02/24/Todays_Market_Strategy_Oil_and_Middle_East_Require_Defensive/
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Saturday, February 26, 2011
Today's Market Strategy: Oil and Middle East Require Defensive Bias
We head into Thursday’s trading session with an extended market that now has two negative fundamental factors to focus on; the Middle East and rapidly rising oil prices. Regardless of how long oil prices remain elevated, the market sees it as a reason to sell. According to today’s Wall Street Journal: Oil futures touched $100 a barrel at the New York Mercantile Exchange Wednesday—the highest since before the financial crisis hit in late 2008—before pulling back. Pricier oil drives up the costs of...
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