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May 06, 2008 – Comments (2)

Stocks Lift Even as Oil Prices Soar- AP

Stocks reversed early losses to trade modestly higher Tuesday, as investors monitored the movements of record-high oil prices but still laid bets that the economy and companies are in recovery mode.

Oil Nears $123 on $200 Oil Prediction, Supply Concerns- AP

Fannie Mae Loses $2.2B in First Quarter- AP

UBS Axes 5,500 Jobs, Sells Ailing Assets- AP

79% of Americans Say We Are in a Recession- CNNMoney.com

I am continually amazed by the way the market keeps heading up despite rancid economic news. Does Wall Street really think the bottom is in, or are we just seeing a massive tape-run ahead of the end of earnings season, and the preparation for a major summer dump?

2 Comments – Post Your Own

#1) On May 06, 2008 at 7:56 PM, SpaceMonkey01 (74.88) wrote:

Pride comes before the fall.

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#2) On May 07, 2008 at 6:03 AM, SpaceMonkey01 (74.88) wrote:

Pride comes before the fall.

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