Tuesday, September 9, 2008

Roger Biduk - TSX tanks almost 500 points...

Roger Biduk writes:

Where are those analysts that only a couple of months ago were predicting that oil was going to $200 and gold to $2000?

The slide on the Toronto market was led by a 6.4 per cent drop in the energy sector as oil moved closer to the US$100 a barrel level.
The October crude contract on the New York Mercantile Exchange fell $3.08 to US$103.26 a barrel as hurricane Ike appeared less likely to strike Gulf of Mexico energy installations and Saudi Arabia suggested OPEC will not cut output.

The gold sector fell 8.8 per cent as the December bullion contract on the Nymex fell $10.50 to US$792 an ounce.