Daily Investment Interpretations

August 21, 2008

2008-8-21:  Oil leaped $5.62 a barrel today on heightened U. S.-Russian tensions to end the day at $121.18.  Freddie Mac shares dropped a little further to $3.16. The Nasdaq gave up 8.7 points to close at 2,380.38. The Dow advanced 12.78 points 11,430.21, while the S&P rose 3.18 to 1,277.72. Amazingly, given the dour outlook, the VIX fell 0.6 points to 19.82.
    To sum it up, the markets failed to fall again today.
    Mark Hulbert has published a follow-up article, No one's perfect all of the time, discussing his previous article, Music to a bull's ears.