Oil continues slide, Markets up Monday

Tags: Dow Jones, War, Georgia, Nasdaq, Russia, Oil
11 Aug 1:25am
Posted by ChrisKrasowski
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The Bulls on Wall Street pulled ahead once again as the slide in Oil Prices continue due to weakening demand. It is becoming clearer week after week that the Auto Makers, especially in the US, are in serious trouble; leased vehicles can not be resold, Trucks are sitting in lots, and drivers just aren't driving much.

The slowdown in Auto Sales, coupled with American's resistance to drive during times of high gasoline prices have lowered US oil demand to a point where Oil Trade speculators are feeling their bid up prices fall quickly and feverishly. Oil dropped into the $113s today pushing stocks up through the middle of the trading day. Not even the conflict between Russia and Georgia is stopping Oil's slide. The Russian invasion is likely not a threat to turn around Oil Prices in the short term as the pipeline, which funnels oil through Europe and Asia is too lucrative to become a target as this conflict grows militant and becomes a traditional war.

Hence, the 3 main US market trackers have trended higher since the open with the Dow standing at +96 points, the Nasdaq at +41 points, and the S&P at +15 points.

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ChrisKrasowski

WC Power Tech Fund founder. Chris sets out to prove that the new generation of investor can emerge from nontraditional circumstances. An engineering graduate from a Canadian University, Chris developed his passion for investing and the markets at an early age and personally owned his first stock at the age of 16. Now 24, with work experiences in the banking and investment banking industries in front of him and behind him, Chris built a personal trading account into the unofficial WC Power Tech Fund. The fund's official blog gives Chris the opportunity to write about investment topics of all shapes and sizes giving insights, opinions and market commentary to seasoned and new investors alike. Visit: http://wcpowertechfund.blogspot.com

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