Tag Archive for Barrack Obama

Sterling Market Commentary for Thursday October 4th, 2012

The overall market moved moderately higher in a relatively broad based move. There were a few notable exceptions as the commodities based indices moved lower. A lot of this move lower was sparked by a sharp sell off in Oil, which was lower by $3.75 to $88.14 per barrel. In searching the news reports related to the sharp drop in the price of Oil, I found that it was attributed to 2 primary factors. The 1st being a slowing of the global economy, and the 2nd being a slowing of the Chinese economy. Neither of these things is good for the U.S. Economy and the overall market. In looking at a chart on the price of Oil it appears to me that their is a reasonable chance that the price of Oil could continue to move lower and test its support level of $79.01 per barrel set on June 28th of this year. While the lower price of Oil would be good for consumer’s pocket books, my concerns are that with all the computerized trading, the lower price Oil would be a sign of a significantly weakening global economy.