Hi Everyone,

I thought I take a look at the markets again today and what has been happening. Obviously it has been quite a poor market for most of June. Although the economic news are not great, they are certainly not devastating either. I think the driving force in the market are still the uncertainty whether or not we have seen the bulk of the mortgage / financial crisis, or is there still some more bad news to come. There is talk about the construction mortgages being under huge pressure, as well as some credit card issues.

The second wild card certainly is energy prices. I hope you all are invested in some sort in the energy sector, so at least you can benefit from it as well. I don’t have a crystal ball, but I don’t think this increase can go on for much longer, as this certainly is a bubble ready to be popped. I had this discussion with someone yesterday, and he believes that the oil prices will stay at the current level or higher until at least the election, since OPEC prefers Barack Obama over John McCain. Here is some politics interfering in the markets.

Anyway, currently this might be another good buying opportunity for stocks and mutual funds for the longer term. Some of the bank stocks are so cheap.

Feel free to comment or to write me a note.

Cheers,

Patrick