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Thursday, December 18, 2008

Thursday New Highs


Thursday new highs. Medical is making a comeback.

I forgot to mention crude oil at $36. Two people who have been saying low oil is going to revive the market (Kaltbaum and Kudlow) today entertained the idea that maybe it's not so good. Low oil prices are killing off alternative energy and new drilling projects, and any recovery in the economy that involves increasing demand for oil will meet supply problems.

Also, I missed this little nugget. it seems President Hoover, er, Bush, has decided that "orderly" bankruptcy is the best option for the automakers. One of these days I am hoping to do a post on why all this is NOT the UAW's fault (I am not a fan of the UAW, but they are not the problem).

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