Oil Continues To Drop
This was a great week for stocks. They up, then up, and then up again. Sort of an up week. Bonds, on the other hand, did just the opposite.
The Dollar acted strangely as it got strong, and then weakened the rest of the week, but this was not reported by the press; it’s just an absolute observation of its price.
Oil was the news. It lost more money this week, than ever before. What does this mean for gasoline prices?? The wholesale price has come down more than $0.30. This means the price at the pump should plummet by at least a quarter. Don’t hold your breathe.
Gold went up and down, and sort of stayed the same with an upward bias.
In the news today….
Nothing.
Here are today’s numbers:
Dow Jones 30 Industrial - 11,497 (up 50 points)
10 Year Treasury Bond - 4.08% (up 0.04%)
Euro - $1.5850
Gold - $958 (down $13)
Oil - $128.88 (down $0.41)
Gasoline - $3.17 (up $0.01)
