Oil Price continue to rally to USD129.00!!!
This has hit the market everywhere. Because most of the company are likely to have a cut in their profit due to the rising price of the crude oil. Analyst are expecting the Oil Price to hit US 150.00 with in 6 months time.
Although many regard the economy will be at unstable state, but the truth about market is that the money wont go away. If you lose it, it will be a simple theory of someone else earn it. Same thing when u make profit.
So in the coming months, most of the company profit will be affected by the movement of the Oil price. However this also mean that energy, oil, plantation, nueclear, oil subtitube tech(like solar, wind...) and also plantations will be good choices to hold.
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Yesterday the market was down 13 points to 1287. While Futures down to 1293.5(last review expect it move between 1290-1305). However with most people assume it was Dr. M influence that make a different there.
Well the truth is... that's is not the only reason. With all regional market go down, oil price hit record high (again) Dr M resign, and some bad news from some of the CI company. All contribute to the bear market.
Although so much bad news yesterday, the market remain quite strong actually down only 13 points, compare to 130 points down on the first business day after election.
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So the market today will also turn bear(at least at the begining of the day, as Dow Jones and nikkei all are down right now. And also the oil price hit 129.00.
this might also contribute to a littlle growth for the CPO price.
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GTG man take care
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