Stock market up due to "plunging" oil price
- Thread starter coffeeman
- Start date
mscheer772
Silver Member
Sometimes the market is up when the Middle East farts, sometimes its down when the Middle East farts. Who knows? Not me, buy and hold low cost index funds. I like Vanguard.
Don't watch the daily fluctuations in price, it will drive you crazy.
Buy and hold I was told. Works for me.
-Mike-
Don't watch the daily fluctuations in price, it will drive you crazy.
Buy and hold I was told. Works for me.
-Mike-
Travelover
Elite Member
mscheer772 said:
What he said. Amen
savageayape
Bronze Member
The newspaper was wrong as usual. The stock market goes up when there are more shares being purchased than sold. The stock market goes down when there are more shares being sold than purchased. 
curly
Platinum Member
savageayape said:The newspaper was wrong as usual. The stock market goes up when there are more shares being purchased than sold. The stock market goes down when there are more shares being sold than purchased.
Very true...but there are lots of things that cause more shares to be bought or sold (than the reverse). And many of them are indeed oil (mideast) related.
Mideast farts (it's always about gas ain't it
)dmccarty
Super Star Member
Well, I filled up with diesel last Friday. I think I paid 4.59 or 4.61 a gallon. Drove by the station yesterday not realy paying attention but I could have sworn that the price was 4.39. Had to have seen that wrong. Drove by in the afternoon and it was 4.39.
Why could the price have dropped a few days earlier?
Later,
Dan
Why could the price have dropped a few days earlier?
Later,
Dan
MuncyBob
Platinum Member
Called for min. order (125 gal.) of heating oil Monday and was quoted $3.70...when it was delivered Tuesday it was $3.60. Maybe I should have waited a few more days, but with my luck it would be back up to $4!
savageayape
Bronze Member
I just know it's sad that so many people actually listen to the mainstream media. They (media) are running an entertainment business so they want to dramatize everything. I don't give any credit to the "expertise" of anyone who will sit on a tv show or write an article in the paper telling me why something happened or what the result will be in the near future of something happening. If it's not dramatic, people will tune out their program or stop reading the paper, so they make up some reason for something happening. Think about it. A serious problem arises in the mideast with regard to terrorists attacking in Iraq or some new threat from Iran and the media says it will cause oil prices to go up ( as well as the stock value of various oil companies). Russia invades Georgia and oil prices go down (that area is very heavy into oil. They have the only non-Russian controlled pipeline in the region (I believe)). So why is it the price of oil has been going down when a world power very heavy into oil attacks one of it's neighbors??? It must be George Bushs' fault. Oh wait, the general public likes the idea of oil prices going down, so it can't be credited to President Bush. I almost forgot. No, it's to simplistic to say the stock market is going up because oil prices have gone down. There is a heck of a lot more to it than that. The value of any given stock is not completely dependent on the cost of oil.
dmccarty
Super Star Member
dmccarty said:
When I went home yesterday the price had falled 12 cents to 4.27! Woo Hoo!
Regading Georgia, the pipeline is moving a small amount of oil. And its not clear that the flow has stopped. Putin's play is to control the pipe line, another proposed pipeline and stop NATO expansion eastward. Supposedly the Georgian's started the fight but the Cyberwar attacks against Georgia started weeks before the fighting started. And Russian moved 8,000 men into the area shortly before the bullets started flying. Not real sure who started what when.
Just happened to be reading a book on the FrancoPrussian War in 1870. Both sides were trying to provoke the other side to attack first. That way one side would be the defender and innocent party. Neigher side was innocent.
Europe better be real careful since much of their gas comes via pipelines controled by Putin. He has turned off the flow before and can do it again. It could get real cold in Europe.
Later,
Dan
savageayape
Bronze Member
I went to a gas station to purchase some off-road diesel for my tractor on Monday. The owner was outside changing the posted price from $4.29 to $4.19 when I pulled in. As I pulled up to the pump I looked to see what price was on the pump. It read $4.29 and I thought, oh well, maybe it'll change before I turn on the pump. Afterall, I'm only pumping 10 gallons of the stuff. Just as I was opening the door to my truck, the price changed on the pump. It made me feel really good and then I remembered it was really only saving me a grand total of $1.00 for the 10 gallons. Don't get me wrong, I was glad to save the dollar, but some people will drive several miles out of their way to save a couple pennies per gallon of gas or diesel when ready to fill up. I'll bet some of them waste more money in fuel than they save.