Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Secret_Agent_Man who wrote (371698)	7/22/2008 5:42:53 PM
From: stan_hughes	Read Replies (1) \| Respond to of 436258

WTFDIK, but I think we'll go higher than SPX 1275 -- based on the market ignoring so-called bad news, I'm guessing this "I hope it's over" rally eventually prints the SMA50 up around 1310 or even higher. Whether we think it makes sense or not, the "sell oil and buy financials" rotation by Big Money is clearly in force -- you don't have to be playing it to see it, and you had better not get run over by it. I see that Marc Faber was quoted today as looking for $100 oil, as are several other people, so $100 oil is probably going to get baked in here. Corn is also getting whacked. That makes for bullish high-fives all around because everyone was already in denial about the banks anyway. The market is evidently tired of hearing bad news and has thusly decided to put in its earplugs for a while. The market won't be forced to come to terms with the false hope of lower oil leading a US consumer recovery until we see graphs of falling oil prices AND falling retail ex-energy sales at the same time, and that could take several months to establish -- time to get in some golf or read some good books while you're waiting