Yes, these sort groups always release a positive sounding communicate that looks like positive things happened at whatever meeting, even when it's meaningless. Markets buy it for a day and then reality kicks in. It should be a case of buy the rumour, sell the fact around this Opec meeting. But is it wise to hold a position through this waiting for the turn.
So now we have Opec jawboning markets, the US Fed jawboning markets with constant speeches, and the markets reacting based on what they think everyone else will do. Then between that going off on short cover rallies. What a crazy world. I feel sorry for the nice long-term value investor somewhere at the moment trying to work out what his Woollies shares are worth against all this.
(20min delay)