We will foresee a fine 2007 for stocks. But, things are grey, for the moment. Look:
- copper, which has tumbled 36 percent since reaching a high in May.
- Copper futures for March delivery were at $2.60 a pound on the Comex division of the New York Mercantile Exchange. A close at that price would mark a weekly loss of 9.4 percent, the most since July 21.
- Crude oil was also poised for its steepest weekly decline in New York since April 2005, as warm U.S. weather reduced heating demand. Crude oil for February delivery last traded at $55.22 a barrel on the New York Mercantile Exchange. Oil has fallen 9.6 percent this week.
- Commodity stocks are the most exposed to signs of an economic slowdown.
We are experiencing a typical slowdown. Wait a little bit, and the markets will comeback. Unless, The Congress and The White House will come to a battle....
2 comments:
And if instead of a slowdown we see an extended expansion - Dow at its six years peak...
Not for the first quarter.
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