The housing numbers weren’t great, but homebuilders did pretty good. HOV and LEN both gapped lower but immediately corrected and moved upward….fast! Nimble hands, or is that mice, made a good buck. The general market didn’t react so nicely and meandered around the day’s lows before recovering near the end of the day, but still ending in the red. Everything in between the opening and the close was, well, you’ve heard the expression watching paint dry.
Yesterday the markets went up along with the dollar, and today it went down with the dollar. Hmmm, that inverse relationship seems to be deteriorating. But y’know, logic and markets don’t seem to fit together. Oil at $80 doesn’t help the economy… but somebody has to tell the market. There is a clear divergence of common sense going on. Stocks up big with oil up big and unemployment and foreclosures up big. They can’t keep racing in the same direction. Which brought me to a couple of interesting articles:
Why The Stock Market Should Crash.
Oil Gets A Boost From The Weak Dollar
Obama warns on US public debt pile
Makes you think, doesn’t it?
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