Well the roller coaster seems to have hit bottom and could be testing another low, never the less with a Fed Rate hike today, Paulson Secretary Treasury confirmation, higher oil prices on news of Pennsylvania Oil Refinery flooded and Iranian conflict deadline, it is amazing that the stock market shot up 200 points of its bottom. Even more stunning is that the re-adjustment period and previous low seemed to have tested twice and repeated. For those who watch the charts and technical analysts, well they believe that it is time to be all in. Interesting as even some of the major fund managers are not all in. Even more interesting is the wait and see approach and the question of tomorrow being another huge rally during this pre-Forth of July Week Bonanza? So many are saying with regards to the Stock Market; I hope you are back in the game? Is it too soon warn others? Well typically the job of the market seems to be to fool the most amount of people and re-distribute the wealth to the sharks. Meanwhile we did not see many huge Corporations buying back their own stock as they sit on hoards of cash? What gives, why are these companies not re-investing their capital? Are the Corporations waiting too, wait and see approach? Are they fed up with over regulation, government intervention and uneasy about World Markets prior to a War? Consider all this in 2006. |
