Israel Raises Oil, Again(?)

Yesterday oil speculators found another reason to keep oil prices at their outrageous price. This time the excuse was an Israeli military practice that was reported to be a practice for bombing Iran. This bubble will not last too long, be warned.

The oil price, financial and automotive sector trouble, and rumors about profit warning in Merril Lynch made the Dow close under the 12,000 point mark, the Nasdaq index went down over 2%, and in general, this options expiration day was very negative.

The dollar took another dive today (Forex Tracer made $390, Forex Funnel made about $100) against most major currencies. The USD/CAD rate went up to 1.0170, and that was the only rise of the dollar against a major currency.

Have a great weekend,
Nadav

nadavs