Larry’s Look at the Markets: July 21, 2008
July 21, 2008 @ 9:35 pm

It was a pretty ho hum day. The day started out reasonably strong as B of A came out and announced much lower write downs than the market had anticipated. Financials were up early, and carried the market a bit higher. The larger financial institutions are not doing as badly as the market would have you believe.
As usual, the market has totally emotionally over reacted to what people believe might be the worst case scenario.
Oil sabotaged a low volume day a bit as it rose 2 points. However, I know of a number of technicians who believe oil might have broken it’s uptrend line, and we could be in for a little relief from the unbelievable run up in that particular commodity.
As I have published in the past, I don’t know where oil belongs, but I do know oil’s recent parabolic rise in unsustainable, and something is going to change the pattern.
For those who believe the high price of oil is a death knell for the US economy, you would be wrong. I have friends who run businesses in Bulgaria, and they have been paying $8 per gallon for years, and their economy is growing at 10% per annum. It’s simply an issue of “getting used” to the new reality of oil prices.
There will be a 10 year bubble in alternative energy stocks- more on that in future editions.
We’re in the teeth of the most boring part of the year. Go play golf. Have fun with your kids. Things will change in the next month or two, and I hope for the better.
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glad to hear your revamping this site.
enjoy this information and look forward to new ideas.
hope to enjoy the efsf ride again. it was great
providing you had sense enough to sell. i did
thank you
Editor: The SSL is suggested was $.16. I don’t know if the stock will have another life, but I certainly hope so. I still have a bunch, and am reluctant to sell at these levels as I think any sort of good news could have it trading up quite easily. It looks like I could be announcing the launch of the new site as early as tomorrow for a launch on Monday- check the weekend edition.
Comment by robert rider — 7/31/2008 @ 2:14 pm
Maybe you should change your home page everything on it is a loser efsf high of .51 was over 1 1/2 years ago
Editor: Getting ready to launch a whole new site. Of course everything on the long side is a loser- are you familiar with the term Bear Market? In case you haven’t noticed, we’re in one. So, all of these stocks are down along with everything else- behemoth financials down 80% this year.
Comment by Anonymous — 7/22/2008 @ 11:04 am