Going Up Or Down?

Posted: July 13, 2010 in Technology and Business
Whenever I want to bail on this market, I think to myself:  Where’s oil? 
As long as oil behaves itself (s-l-o-w-l-y climbing… less than $100 a barrel… etc.), people will have extra money in their pockets and spend.  That helps corporate earnings.
If oil shoots up, people will immediately have less money in their pockets and panic/pucker up again.  That will hurt corporate profits.
So, then, as long as oil behaves, the stock market should be ok… defined as trading within a normal, healthy — if not heart-stopping at times — range.
P.S.  For the market to dramatically appreciate from here, though, we will — obviously — need more jobs.  Oil may be the key short-term influencer… but jobs are still the most important long-term driver.

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