Navellier

The weekly Navellier Marketmail report is generally worth a read as they hit the main points. Here is a link:

http://www.navellier.com/commentary/weekly_marketmail.aspx

The timing of Bush's announcement to increase the SPR does not seem that strange to me though as in came just before the State of the Union Address where energy was a major topic. Several countries are increasing their oil reserves or have plans to, namely the U.S., China and India. While it's psychologically bullish for oil prices in the short-term, significant inventory building is bearish longer-term. Inventory building is basically artificial demand. It's similar to a technology company stuffing the channel except the inventory doesn't become obsolete.