Thursday, June 23, 2011

Gold and oil down

WTI crude at 11:19 am is $91.18 down 4.43%. Gold is $1521  -26.90. The consumer nations of oil agreed to release oil reserver for the third time ever thus increasing supply. Gas prices are dropping as I write. Stocks are down, especially commodity related. Dollar index is up .80 to 75.592.  REITS are down some. AGNC is $28.63 down .215, just like IVR and ARR lately you cant hardly tell there was an offering, the price may have been down aftermarket but not during the day. Perhaps demand for this is going up. GNT and GGN is down because they hold gold and some oil, I would wait to buy them for a little while. AINV is down the most at $9.74--was $10.10 a few days ago. I think President Obama is doing good by releasing the oil reserves, the price was already going down, this will drop the price a lot and save our economy which was being choked by high oil prices. Strings are also being pulled in the Federal Reserve to help the econome and interest rates will stay down. Foreign imports such as shoes and clothes are expected to go up some, perhaps it will be more worthwhile to buy American products. I think wages in China are going up.

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