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by Hellsangel Thu Jun 23, 2011 10:49 am

What is your theory for the rationale behind the IEA releasing oil reserves?

Does that also mean the Libya war will heat up?

by harharmahadev Thu Jun 23, 2011 11:16 am

I was surprised by IEAs sudden announcement....maybe it's part of the wallstreet psy-ops to bring down oil prices.

However, I think commodities like oil, copper, soya, etc are a direct indicator to the chinese growth story. I think China has a perfect setup for a hard landing. That is going to coincide with this announcement to decimate the oil speculators.

The fall in oil prices is extremely good for US and even the Indian economy, although it is not going to be good for the Indian stocks. Indian economy will benefit because fuel subsidies will go down and indian oil marketing companies can make money without govt support. In fact, this might be extremely good development for Indian Oil Marketing Companies.

A dollar rally typically hits Indian stocks negatively. Watch out below.

Gold is also taking a hit and I think it will continue to go down...possibly in the 1300s.

by Hellsangel Thu Jun 30, 2011 6:08 pm

harharmahadev wrote:I was surprised by IEAs sudden announcement....maybe it's part of the wallstreet psy-ops to bring down oil prices.

The fall in oil prices is extremely good for US and even the Indian economy,

And we are almost back at the price just before this.

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