So, yesterday, it dropped 17 cents because of rising oil prices due to the crisis in Libya. Is it time to catch this flight or is there further downside on oil?
I say wait. The middle east unrest story is still unfolding but this is a great time to get ready to pull the trigger on certain purchases.
This is one crisis that may be a great opportunity but the problem is no one can really tell how far it can get. So, for now, I shall wait and see.
Further reads :
http://www.theedgemalaysia.com/business/182084-us-stocks-investors-crowd-wall-st-exits-on-libyan-unrest.html - Seems to indicate a further drop in markets?
http://www.fool.com/investing/general/2011/02/22/staring-trouble-in-the-face.aspx - S&P valuations are at the very least historic averages so be more selective in your picks.