Daily Investment Interpretations
September 23, 2008
The price of crude oil fell back to $106 a barrel today, while the markets fell
about 1½ %, presumably because of arguments and a speed bump on Capitol Hill
regarding the Paulson-Bernanke bailout plan. The Nasdaq backed up 25.66 points
to 2,153.33, the Dow coughed up 161.84 points to close at 10,854.17, and the
S&P declined 18.87 points to 1,188.22. This leaves them about 3½ % above
last Wednesday's lows. The VIX jumped to a bullish 35.72.
Here is today's article by Todd Harrison helping to explain what's going on and what's coming next. Shock and awe.