Wednesday, July 30, 2008

Oil rallies $5 bucks, and the Dow rallies 186

Wait-Wasn't this not supposed to happen?

The oil rally means we aren't heading into a "depression." The market, has the shorts cornered, so all news will be looked at with the glass half full.

Today we had Meredith Whitney on CNBC after the close, still warning us after the horses have already left the barn, even after the barn has already been burnt down.

If she would look a little closer, she'll see that the barn is being rebuilt!

She thought Wachovia would have to raise money. But the stock's at 17, not 8, when she hammered it at the bottom in the financial stocks on July 15. I disagreed! The story is in the link below. This article should be reread!

The lows are in. July 15th was the bottom. And you had the story here. On the day! On the above link!

Reread it if you still cling to your bearish thesis.

The bear is over. As advertised!

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