Feeling Like a Change in Trend

by billb 22. July 2008 17:01

Every day I'm feeling more and more convinced that maybe we did hit a bit of a bottom recently.  So there's a hurricane churning in the Gulf of Mexico and the price of oil plummets $5 per barrel.  Whu??  I thought if someone so much as passed gas next to a pipeline that would cause the price to shoot up at least $10-$15 in short order.  Wachovia loses $9 billion and XLF is up 1.5% today.  Er? 

It seems like when the news is really not so horrible and the market is tanking (read, last fall), we're in for a correction or bear market even.  Now the inverse is true.  The news is awful and markets are holding on to gains this afternoon.  Could this be the bear turning around?  I don't know.

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