Hi Woody,POO will go up next week even if only because the front...

Hi Woody,

POO will go up next week even if only because the front month Feb expires (Nymex now 36.51) and we roll over to March now at 42.57.
Everything else is bleaksville - Last week's news from Bank of America, CitiGroup, DeutscheBank has knocked away any optimistic start to this new year. It is on the cards the Dow could break November lows of 7500 which will be badly significant indicating larger downside.
CVN is still generating a profit and preserving your wealth holding CVN will mean a positive relative gain even if the SP is lacklustre.
Even the Aussie banks will become bad debt magnets as the recession ripples across our homeland.
Chinese new year holiday shutdowns may be just the time for the factory managers to tell their staff not to bother returning en masse, great anniversary for last year's weather disrupted journeys for the workers. I'd be full of joy contemplating the dashed hopes of a brave new industrialised world suddenly stolen away. Disruption in China would make the the politics of Thailand look as lame as it is.

What about the white knight sovereign wealth funds that took equity positions in the US financials? They will not do it again.

POO may lurch upward if OPEC can cut supply. If that causes a jump in CVN I will be tempted to sell a proportion and buy again when it lurches the other way.

The latest group of losers in Australia had their money and house with Storm Financial, but Madoff takes the worldwide prize so far.

How about some good news? Where? Even alternative energy is a losing battle with POO at current levels.

Airfreight volumes are down, leading indicators are down, Mercedes has stopped production for several weeks, Toyota posts a loss - which US automaker will not survive?

CVN's success has come at the right time of the cycle to generate cash when bargains come on offer, but there is no hurry to do deals at the moment.

Cheers,
Al