My view on the responsiveness of oil price (per earlier posting in this thread) seems reasonable, given the big move we just had!
Dow approaching 13,000 now, so for mine it is quite likely that we will rally (XAO 5000 if DJI > 12,000) providing there are no surprises from Europe. I contend that much of the pain has already been priced into our market, though anything is possible given that we are at the mercy of decisions made by politicians with vested interests. At least with company directors (honest ones anyhow), vested interests feed back into shareholder value. With the politicians, it could be any number of seemingly irrational things designed for a political purpose...
Sentiment: Buy on dips (qualification: this is my sentiment and is geared for a long-term hold). I picked up a couple during the recent dip we had. My belief, as posted on SEA threads > 1 yr ago) is that (with time) it will become readily apparent that several so-called renewables aren't yet able to cut the mustard (when an energy balance analysis is carried out), and that POO should hold up (i.e. dips won't be sustained long term) given (i) increasing population and increasing standard of living for some (ii) increased cost of exploration and extraction (iii) increased monetary supply and other pseudo measures that lead to the same nett outcome, etc
All in my opinion, and not to be taken as financial advice in any way, shape or form.
SEA Price at posting:
56.0¢ Sentiment: Buy Disclosure: Held
