Hello Ken, yep, up early and been working pretty much 7 days a week..
<You are sounding a little bearish this week> Ken, no question about it, I am currently bearish..I do not believe the market has discounted enough to compensate for energy prices, and I do not believe the situation will improve in the near term. The effects of the last weeks demonstrations in Europe have been kept under tight wraps here in the US(the situation is fairly critical),IMO multinationals will/have begun to feel the pinch of energy prices and a weak Euro..and these effects will definitely show in the coming quarters. Don't expect OPEC to come to the rescue this time,,they are slowly but surely approaching full production..and let's not forget the transportation constraits (there aren't enough tankers,and Saudi crude ain't the best for refining),government taxes,,etc..OPEC is sounding the warnings--time for Governments to begin shouldering some of the burden, through lowering fuel taxes..
IMO these issues will soon land on US shores in the form of inflation and earnings warnings..Maybe I'll just wait until the year end IRA fund flows come in <g>..;^)DD (the alarmist<lol!!>) |
