Athabasca Oil Corp T.ATH

Fighting an uphill battle with Oil..

[smallcaptdr]

Since the FED started talking about raising rates in June Oil has gone from $123 to $64 with 9 months of $100 Oil promises now stretched to next year which won't happen and right now $85 is looking peak there's no sense in overreaching so if we hit $85 and it keeps going all the better but the world is a landmine which bank will surface with concerns once 5% cycles through and even one bank failing after the FED promised would be disastrous that day for Oil and the Stock Market which didn't take today very well either it's evident that the US is heading for challenging times on their own but trading in commodities we have to worry about the world being ok and countries that are also fighting Inflation by raising Rates could trigger bank failures anywhere. The FED is driven to fight Inflation knowing that the economy will end in a disaster and watch bankruptcies start gaining momentum in a few months we should start seeing real changes by June numbers and there is no escaping this even the housing sector is in for pain with no gains. We're also fighting a negative Stock Market but now that the FED Decision is behind us all we can hope for is that Oil turns bullish. The other thing that has changed since June is that "Recession Fear" is now a Fact. We'll see how overseas deals with today's events let's finish this week green!

[wedowee5]

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