Daily Investment Interpretations
August 20, 2008
Oil closed higher again today at about $115
a barrel, presumably on the strength of Russia's incursion into Georgia. Freddie
Mac shares touched a low of $2.95 today before closing at $3.25. However, the
Nasdaq managed to eke out a gain of 4.72 points to 2,389.08. The Dow added
68.88 points to close at 11,417.43. The S&P 500 waxed 7.85 points to
1,274.54, giving the rally a crutch to prop it up another day. The fickle VIX
fell to 20.42.
To sum it up, today, the markets failed to fall. Tomorrow... ?