Take a look at Pre-Market indicators first (refer to attached image). Looks like we are ending this “mid week” of month August on the downside of things.
What is interesting though is that Crude Oil indicator is also in the red ? Does it mean there is hope of picking up some oil-stock bargains ? Like $Total SA(TTE)$or $Chevron(CVX)$or $Occidental(OXY)$ ? Hmm…. Will hawk over them tonight. Both CVX and OXY are Mr Buffet favourites at the moment, FYI…
The only question that’s at the back of my mind is whether oil price will shoot up to the sky after mid-term election ? Meaning, at the moment, oil prices are being kept artificially low as according to some write ups.
Do you believe this is true ? Or is it that the news that OPEC will increase capacity by another 100,000 bpd (0.1% of global demand) come Sep, has finally filtered thru and taking effect ? LOL. What do you think ?
I will still continue to watch and time my entry for $United Microelectronics(UMC)$ / $Himax(HIMX)$ / AMZN if the price is right. Lets hope the downward spiral will persists for today. Come Monday everything will be back in the Green ? LOL.
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