According to the Stock Traders Almanac, this was the first year since 1974 that both November and December had negative monthly closes . . .
Odd Data Point of 2007
January 2, 2008 8:45am by Barry Ritholtz
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New Column up at Real Money (01/02/08)
And we all know what followed shortly thereafter……
BTW the Oil pump using the Nigerian rebels thing is just too laughable……..Out Justice Department would rather investigate the sale of chocolate (that does’nt have a premium of well over $30 attached to it) rather than the NYMEX induced gorge-fest that takes place each week by bidding up crude and then cancelling large amounts of contracts that creates the “shortage” that is reported each week.
But Stocks are the cheapest since 1974…LOL
So said the pumper….
Ciao
MS
And we all know what followed shortly thereafter……
BTW the Oil pump using the Nigerian rebels thing is just too laughable……..Out Justice Department would rather investigate the sale of chocolate (that does’nt have a premium of well over $30 attached to it) rather than the NYMEX induced gorge-fest that takes place each week by bidding up crude and then cancelling large amounts of contracts that creates the “shortage” that is reported each week.
But Stocks are the cheapest since 1974…LOL
So said the pumper….
Ciao
MS
Oil is the new safety play… the new gold.
let the 70’s redux continue… I’ll be shopping for bell bottoms and a big collared shirt this evening.
and now some 70’s Redux quotes:
Tony Manero: Would ya just watch the hair. Ya know, I work on my hair a long time and you hit it. He hits my hair.
Frank Sr: Four dollars? You know what four dollars buys today? It don’t even buy three dollars!
Eric Davis,
Gold is the new gold.
Up over $850 this morning.
/Up 32.5% in 2007.
Sorry…
Make that up over $855 this morning
/all time high
cough……$860……cough..
Ciao
MS
After ’74 it did take 6 years for gold to “Top”….
May not repeat itself, but it does Rhyme.
After ’74 it did take 6 years for gold to “Top”….
May not repeat itself, but it does Rhyme.
That’s ok, Eric Davis may not rhyme, but he does repeat himself ;-)
btw, isn’t it interesting that gold hits an all time high only a few weeks after Goldman Sachs announces they’re bearish on gold?
/another contra-indicator?
Also in 1974 the average inflation and CPI-U percentage rates were 11.03 and 49.3 (to include food & energy), respectivley which sounds about right. The effective average FED fund rate was 10.5%. Oops!