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I'm gonna take a slight bullish stance on this. Do I think the Dow is gonna go down 500 points again? Somehow my gut tells me it's only gonna go down 100-200 points at most. We'll see if I'm right, and I hope I am
I love how oils been going down yet the stations haven't touched their prices one cent.
Makes sense to me. Why should a retailer sell off product bought at a higher price at a loss? Retail gas stations make very little on gas, sometimes they lose money on gas and it's a loss leader for the convenience store and their overpriced goods. The price comes down slowly because the retailer has to deplete their supply and their price was higher, so they must make sure they don't lose too much money on their existing product.
Sunday: The Tel Aviv Stock Exchange delayed its open by 45 minutes to avoid panic but it did not help. The market plunged by seven percent in response to the downgrade of the debt rating in the United States.
Oil is already down another 3% while Gold is up and touching $1690oz
Stocks, Oil Plunge As Central Banks Battle Gloomy Economic Outlook - WSJ.com (http://online.wsj.com/article/BT-CO-20110804-715601.html - broken link)
If this downgrade was already figured into the markets, someone forgot to tell investors. If we haven't been in a depression, we may be seeing the beginning of it now.
No man can predict the future. While the overseas markets and opening indicators do not bode well, one can never tell how the market will end up at the end of the day, or the end of the week.
What do we know?
With current policies-
the dollar will be lower long term
interest rates will be higher long term
there will be less money available for government spending
That is about it. Arrange your investments to look for long term trends and not day to day activity. That being said, I sold out of the market at Dow 10,500, so I really do not care how the markets do, one way or another.
The Asian Markets just opened... How are they doing?
That will tell you how it is going to open tomorrow morning.
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