Tuesday, October 16, 2007
Oil, Can you say buy on the rumor sell on the news?
I am not sure I think that Turkish incursions in to northern Iraq will have the net impact so many are looking for. Prior to the current government, Turkey chased Kurdish rebels into northern Iraq on a semi regular basis and I am not sure it had any effect on Iraqi oil then and I don’t see it as having any effect on Iraqi oil now. The market once again seems to be factoring the worst case and as I have often stated on this blog ,that markets hate uncertainty .Can you say buy on the rumor sell on the news?