Daily Investment Interpretations
August 21, 2008
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.