Support would have to hold for that to happen and some sort of positive news. There is no positive news. Geitner will come out with some resolution for the banks next week -march the latest-- one possibility. bottom line GE is not a $9 stock----valuations are wrong here--GE moves up to $14 sometime in March. I think one stimulus will be getting rid of dead weight in the Dow, in next 3 weeks--Citi, bac, gm---1 ought to be replaced with the following: Visa, MA, Fed Ex UPS, how about Fluor, Excelon, Cisco, even GS, MS. I think some of the shorting loopholes get closed pretty soon: SEC going to tackle FTD`s, and "artificial shares" as it is obvious that there are more shares shorted than can be borrowed legitmately. But we have just moved too far down to fast since January with no retracement---all this news was known December 30th, we are due for a retracement move of atleast 1500 points, and who knows once things start moving the other direction, money sitting on the sideline doesn`t want to miss out on the recovery move when all this stimuls starts being used as carry trades, borrow at 0% make 7%-which hedge funds, money managers can do any day now--they are all waiting to see if the market takes the next leg down---the longer we just stay here, boom some big buyer is going to say I`ll take the plunge, and everybody follows.
every airline has no excuses for fuel taxes going forward, start hedging like southwest did the last time oil was too cheap relative to long term fundamentals.
It's posts like these that make me question my scaling into oil as a long term investment and remind me of the very real possibility of oil trading between $17 and $21 on light volume for 5 years.
that was before India & China---China is hurting but make no mistake China is going to eat up deamnd for all commodities---they pass stimulus bills which are infrastructure based, not like US.
In a massive LONG TERM depression with NO WARS (key point) that is a possibility...........but, PRIOR to that potential dead period there will be some WONDROUS rotations of price!!! Enjoy them while they last!