Wednesday, September 3, 2008
They've Got Us Over An Oil Barrel
April 4 is generally recognized as the date of oil's short march to the $147/barrel level. Yesterday oil dropped to as low as $105.46 before settling at $109.71. The consumer price of gasoline fluctuates with oil. Prices of consumer goods made with ingrediants derived from oil also rose during the summer, but hold onto your dipstick if you think they're now dropping like prices at Wal-Mart. Proctor & Gamble is keeping prices up "to recover costs already incurred." Aha! That means a short term profit gain. That should result in a short term stock price increase. So let's do some short term investing and buy 100 shares of P&G, which yesterday closed at $70.47 each. We'll check back in a few months.