Monday, August 29, 2005

A Stormy Market?

I thought the market was going to get slammed today with predictions that hurricane Katrina was about to wipe Louisiana off the map and the effect of the storm on oil prices. Katrina was bad, but not as bad as everyone feared and oil fell from the opening high of $70 a barrel. I don't know, but it almost feels like a top in the price of oil. So much bad news is priced into the oil market. We'll see... I'm horrible at making these short term predictions.

Overall it was a very good day for the market. All of my holdings were green except for Biogen Idec. The WSJ reported that there maybe additional adverse events with the use of Tysabri. There's going to be side effects in just about every drug we take. The number of people, who encounter serious side effects are small, but that's what makes the headline news. No drug is 100% safe.

On a different note, I'm still deciding whether or not to go for the condo. Time's ticking...


At August 31, 2005, Blogger Money Turtle said...

Thanks... I'm still waiting for the condo docs so I can really go over the details. If I like it, I have to give them a 10% deposit. They expect to complete construction by 2007 so it's a little wait. Hopefully, it'll be worth it!

Congrats on your condo purchase! Sounds like everything has gone smoothly for you so far...


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