There may be another new huge oil spill in the gulf. I caught wind of this on some internet message boards but have not been able to confirm the story. I am not seeing any coverage on the major TV networks. The internet chatter is saying it could be a 100 mile by 10 mile wide sheen of oil.
I suggest you check twitter real time breaking news as the best source of new information on this. The major TV networks are simply too slow for breaking news, they are asleep at the wheel!
The US Coast guard is investigating now according to their website.
I have no idea if this story is true or inaccurate but I would say that if it is true I can easily see the Dow down 300 to 500 points next week… If nothing else, a huge oil spill like that would certainly not help with overall sentiment.
Interestingly, I just looked at the chart of BP and it looks like a very good short candidate based on the chart structure. Also WTI chart also looks very bearish and an outstanding short candidate… Wow.
I suppose we will know by Sunday sometime if this story is real or not (and maybe the TV networks will wake up!).