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The NASDAQ has been on a tear for the last four weeks. The NASDAQ closed at 2212 on July 14 2008. Now it has climbed it way up to 2439 where it closed today.
In the last four weeks the Dow has also had a good ride. During the same period, the DOW started at 11,055 to climb to an almost two month high of 11,862 this afternoon and closed at 11,782.
Jump back one month…
Oil on the run.
Oil hits an all-time high of $147
Our belief is that oil will not back off anytime soon.
Analyst say that $200 is clearly in view now.
Congress calls for the top brass of the big five oil companies.
The DOW falls below 11,000
These were the stories that we heard all day long in the mainstream media. It looked like there was no end in sight.
Oil drops below $114.
Oil tumbles over 20%
Dollar gains strength
Congress still on vacation.
Dow closes at 11,782.
What the hell happened? In the second half of that period, it turned around. For how long will this continue? I don’t know, This might just be a big bounce that’s about to come back down.
There seems to be a lot of doom and gloom still out there. The markets overall are up, Fannie and Freddie are struggling, the dollar is gaining, Commodities are down. Consumer confidence is down and the foreclosure rate is holding steady.
Go figure.
What’s your take on this story? Please leave a comment and let me know.

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