rb_engineer, One of the things to take into consideration in regards to market performance is that yes the S&P is up about 10% but our poor US Dollar broke 81 this week. We are sitting at a 30 yr low. In that context the S&P isn’t performing that well. In fact a potential bigger story stemming from the subprime debacle is the dollar index breaking through its 80 support level, that has been the floor for over three decades now. If we break through that level we are in totally unchartered territory. That would be bad, very very bad. You think the price of oil is high now?? Also something to pay attention to is the Yen firming against the dollar which helps unwind that carry trade (less liquidity). Personally I don’t want to see these things happen (I would like to see the housing market correct and thats it), and I think we will weather this but we are in somewhat of a precarious situation here. Just looking at the performance of the Dow and S&P isn’t telling the whole story here IMHO. I didn’t mean to add to the gloom here but what the hay.
