Stocks are climbing, oil is falling, but thousands of families are still losing their homes and thousands more are losing their jobs.
Somewhere there will be unrest in an area that supplies a lot of oil, refines oil into gas or allows for the transporting of oil (pipelines).
Do not get too excited for now. It's going to be a long hard road ahead. When you start hearing of houses in the area staying on the market for over a year now even with a $20K decrease in the asking price, you have to face reality that this economy is failing.
Retail stores cutting back, closing stores. Hotels half full. Flights reduced, airline rates climbing.
We have a ways to go. I predicted that oil would hit $145 a barrel and I still hold my ground on that prediction.
We will also see at least TWO major hurricanes hit the east or gulf coast. I'm thinking more likely the Gulf coast.
By this Friday (Aug 8), stocks should plummet, the Dow should dip down to about 11,100.