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A while back, I said that for me to become bearish at least two out of three things would have to happen.

  1. Total meltdown in the US housing/credit market. I think it's fair to say that has happened.

  2. Much higher oil prices. We're back in the $70-80 range, so while we have come a fair bit, we're not there yet.

  3. Higher interest rates. There's a fair chance rates will be lowered next year.

So, this far I believe global growth will bail us out and that this will just be a correction like the others we have seen once or twice a year for the last few years.

And remember, for stocks a shorter investment horizon than 5 years is just speculation.

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Fri Aug 10th, 2007 at 09:52:20 AM EST
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