In This Issue:
Surprise! Oil Prices Can Plunge As Well As Soar
Russia-Georgia Conflict Shows Oil Retreat Has Legs
The Dollar Is Rebounding By Default
We Know We've Said This Before, But "Buy The Bargains"
The Bottom Line This Week
week, the stock market continued to make the big swings that started several
days earlier. This time, however, we were delighted to see that the pattern was
skewed towards the positive. Thanks to a 332 point gain on Tuesday and another
303 point jump on Friday, the Dow and the Nasdaq ended the week up 3.6% and
were very nice numbers for a five day period, especially since poor economic
news –and the Russian/Georgian war- continued to dominate the headlines.
However, none of it could overcome the enthusiasm investors had for the recent
plunge in oil prices that brought the magic $100 level within sight. If oil
gets that low we will see rejoicing on both Wall Street and on Main Street. We
might even raise a glass ourselves.
Mother Market is testing our resolve. After rising 49 points on Monday, stocks
dropped 250 points through Wednesday. More gyrations are undoubtedly on the