Corporations are having record profits. Plenty of recent news on that topic, which is the key ingredient to determining stock price. There will also be problems around the world. If you panic everytime a Libya get bombed, you would never invest in the market. HOP
I tried to catch the falling knife at $24.14. I have recovered from $20.82 and am only a $600 loser at this point. However I didn't get into this game to get even I came to play and hoping this puppy will get to $34 in the near future. Good luck all longs.
The last time Gas was over $4 it triggered a big recession. Look at the history of recessions, they all started at crude oil at over $100.
This is no exception. It looks to me like the stocks are moving up on low voume and weaker hands are now buying, and the big boys are out. Again, just my gut feeling. I am very suspicious. This does not mean tht we dont make new highs, it means that the market cannot change its sentiment so fast, 3 days ago everybody was dooming the market. I give the big funds more credit, and I suspect they will sell into this rally that has no sense. Earnings are not everything, as we well know, the future is what they look for. FNSR had earnings that are not to be ashamed of. I just dont see the future rosy here. Sorry. Remember that I warned you ahead of time, WAY ahead of time.
Firstly, gas is not over $4. Secondly, from an auto perspective, the fuel efficiencies of vehicles has increaded signficantly since the days big SUVs and gas-thirsty Cadillacs ruled the highways. As far as the price of a barrel of oil, of course this doesn't help the economy. The impact on airlines, eg., is significant as oil prices rise. But here again, the country has made some strides in reducing its dependency on oil. Although probably not a good time to be planning on more nuclear energy. HOP