Another fun day on the rails

Now this is a heck of a ride: What’s the deal, you ask? All together now: U.S. oil recorded its worst settlement since May 2003 on Wednesday, caught in a broad slump across world financial markets with traders also fearful that the crude supply glut could last longer. U.S. benchmark West Texas Intermediate (WTI) prices… Continue reading Another fun day on the rails

Riding the roller coaster

Finally, my life strategy of being too poor to have any investments is paying off. What’s the problem? Well, lots of things, apparently: Weak U.S. economic data has not helped matters today. December retail sales dipped 0.1% in December. Manufacturing in the New York region came in much weaker-than-expected in January and industrial production for… Continue reading Riding the roller coaster

Gluttons for punishment

The Dow Jones Industrial Average dropped about a thousand points in the first five minutes of trading today. It’s recovered substantially at this point (about 10:45 east coast time) and is down around 650 points for the day so far. The S&P 500 is down almost 50 points and the NASDAQ is down about 115… Continue reading Gluttons for punishment