Power demand? China....slowing GDP and economic activity means less demand, wow...........the inflation story, they are cranking reserve requirments and interest rates to curb inflation and its hitting economic activity as seen by data,,,thought they were pushing oil up cause GM (thats Goldman not our HC GM :) said so and because suddenly there was a shortfall in the oil problem, the old chestnut, Lybia shortfall of 1.5M per day........and as USA is the biggest oil user by a country mile and its GDP is slowing along with durible goods etc etc etc , well OIL shouldnt be here, even the oil producing countries are concerned saying there is enough supply , infact excess to satisfy demand............nothing but super short term traders in the market
Gold may be marching but its on lower and lower volume,,,profit taking from catching it at 1470 will kick in soon i reckon....not sure what the driver is at the moment other than small funds on small volume...USD up, Data showing clear slowing and demand destruction, commodities are overblown at this time along with the market......
Great view from the sidelines, people getting killed everywhere, up one day smashed the next
NCM Price at posting:
$38.49 Sentiment: Hold Disclosure: Held