Belaboring the Obvious 2
I wonder how many MBA’s it took to figure this out. From Market Watch (I highly recommend reading the comments):
“Obviously this market is in lockstep with three things, the most important of which is the price of a barrel of oil,” said Art Hogan, chief market strategist at Jefferies & Co.
On Friday, stocks sank as crude-oil futures gained, a trend that played throughout the week, as the weaker U.S. dollar added to the allure of oil and other commodities as a currency hedge. And, more trouble in the financial sector compounded market anxiety.
June 22, 2008 at 3:33 pm
Is this the time to buy oil stocks?
June 22, 2008 at 4:36 pm
Nope. Last year was the time to buy oil stocks.
This is the time to take all your money out of the bank and put it in a safe in your bedroom.