Oil Price reach $62 this week

The sharemarket closed lower yesterday, with investors nervous as the oil price hit a record high.
The fear is that higher oil prices will translate into higher petrol prices and dampen consumer spending in Australia.
The ASX 200 index closed down 14.4 points at 4231.2 and the All Ordinaries index fell 12.6 points to 4191.2.

"Investors are fearful that higher oil and more particularly higher petrol prices will cause the consumer to shut up shop."

Most sectors were in the red, though oil stocks benefited, as the benchmark New York oil contract hit a record high of $US60.45 a barrel.
It touched $US60 for the first time during New York trading last Thursday.

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6. Think Independently
Being independet mean having the courage to invest in stocks that no one else wants.
It takes independence and courage to buy real estate during recessions or move to cash in the middle of Bull Market.
But if you're right, you will be richly rewarded.
It is easy to invest with the crowd but not very profitable.

7. Prepare for the Worst
Realistic Investors know that no matter how bad things get, they can always get worse.
Investors should focus on the downside because the upside will take care of itself.
If you hope for the best but prepare for the worst, you will take the necessary steps to avoid losing any or all of you money.