Wednesday, March 05, 2008


There's a lot of news driving the markets today, it seems that's the major catalyst to move the market one way or another lately.
Oil's at a record high ($104+/barrel) seemingly as a result of OPEC telling Bush to shove it. From an article in the NY Times:
"{OPEC} decided Wednesday to keep its production unchanged, ignoring calls from President Bush to pump more oil into an ailing economy. OPEC rebuffed its top consumer, arguing that the world was well supplied with oil and blaming financial speculators and mismanagement of the United States economy for the current high prices."

Meanwhile, Bush & Bernanke take more steps to displace accountability.

Financial Insurer Ambac (ABK) got hammered today after reporting it will sell $1 billion of common stock and sell at least $500 million of equity units.

Gold is....well, need I say more?

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