Sunday, January 25, 2009

Do market analysts really know what the f* they are talking about?

After seeing these headlines in the news and RSS news feeds (many of the AP headlines _changed_ from one day to the next, but thanks to RSS readers every change was logged as a "new" entry so the full history of the headlines was preserved for your enjoyment below), I have to think the answer is "hell no".

How could oil and gas prices both be categorized as rising and falling, rebounding and tumbling, and then the reasons for this ranging from "weak demand" to "supply from OPEC" to "storage crunch" to "Bernanke's comments" to "US earnings"? And that was just within a span of _5 days_.

Jan 16 (Friday)
Gasoline prices on the rise again (seattle PI)
MARKET WATCH: Crude, gas prices fall
World oil prices firm as markets eye OPEC
"Oil prices rebounded Friday as the market tossed between worries over OPEC production cuts and the International Energy Agency's unexpectedly sharp reduction in global demand forecasts."
Oil Prices Rally After Early Losses

Jan 15 (Thursday)
Storage Crunch Weighs On Oil Prices

Jan 13 (Tuesday)
Oil falls to near $36 on weak US crude demand (AP)

Jan 13 (Tuesday)
Oil falls below $37 on gloomy demand outlook (AP)

Jan 13 (Tuesday)
Oil rises to near $39 on Bernanke comments (AP)

Jan 12 (Monday)
Oil tumbles below $38 on eve of US earnings season (AP)

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