Right, this is the must interesting topic for me this few weeks that build up to this morning news that i saw.
Title on the news - The Gulf Coast waits: Will it be another Katrina?
Extracts of this piece of news
"The storm was set to crash ashore late Monday morning with frightful force, testing the three years of planning and rebuilding that followed Katrina's devastating blow to the Gulf Coast. The storm has already killed at least 94 people on its path through the Caribbean."
"I was trying to get situated at home. I was trying to get things so it would be halfway safe," said 46-year-old painter Jerry Williams, who showed up at the city's Union Station to catch one of the last buses out of town. "You're torn. Do you leave it and worry about it, or do you stay and worry about living?"
"There were frightening comparisons between Gustav and Katrina, which flooded 80 percent of New Orleans. Gustav was forecast to bring with it a storm surge of up to 14 feet, but there was no doubt the storm posed a major threat to a partially rebuilt New Orleans and the flood-prone coasts of Louisiana and southeast Texas."
"Billions of dollars were at stake in other wide-ranging economic sectors, including sugar harvesting, the shipping business and tourism. The Mississippi Gaming Commission ordered a dozen casinos to close."
"Melissa Lee, who lives in Pearl River, a town near the boundary of Mississippi and Louisiana, was driving away to Florida Sunday. Before she left, she heard neighbors chopping down trees with chain saws, trying to ensure the tall pines that surrounded their homes wouldn't come crashing down."I sent my son out with a camera and said, `Go take pictures of our backyard. Because it's going to look different when we get back.'""
and yes it is. People are panicking. Some devasted, some hoping for the best. Many have left their homes to temporary seek refuge elsewhere. Government has called for
evacuation for the good sake of the residents. They didnt want to see bigger number of bodies if the storm turns out to be worse than predicted.
What does all these sound to you even when many finance experts are calming down the market with their incredibly believable technical comparison between Hurricane Katrina and Hurricane Gustav.
It was compared far too many times too that Hurricane Gustav is an expected one. That it is more of a smaller scale storm comparable to Hurricane Dennis in 2005 and Hurricane Ivan in 2004.
How will this Hurricane bring with it ? A bullish market or a bearish market ?
If prediction comes true, it will probably bring with it a temporary bullish market since damages is expected within the calculated. Thereafter, when a full-scale damages report is out, and the numbers are wider, it becomes a bearish market.
Therefore, in conclusion. Hurricanes bring nothing but bearish market. NONE of the hurricanes in the past till now, Brought with it good news. DID IT ? or am i wrong ?
Perhaps, Hurricane Gustav is going to bring us good news ? USD is going to appreciate ?
OK, certainly the only good news i see is going towards the CRUDE OIL !
My bet for this week. SELL SELL SELL !!!
SELL USD/CAD !!!! targeted @ 1.0610
Sunday, August 31, 2008
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1 comment:
Nice website. I hope to be one of the frequent visitors of your blog since you are so passionate about what you write about forex and so am i. I have been into forex for a while and i find it very exciting.
I sometimes just have so many things I want to accomplish.
And when I write them all down, I just get overwhelmed with the list that I end up accomplishing nothing. That's why I suggest forex traders that they take a break until they have a relaxed mind.
I just wanted to express my agreement with what you wrote in this article.
Best of wishes in trading.
Regards,
Jessica Jackson
http://www.forexfreedownload.com
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