Oil prices soar, and so does the Dow

[Newsjock]

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/11/13/financial/f133156S95.DTL&tsp=1

... As stocks rallied, so did oil prices, sending shares of energy companies higher. The biggest gainer among the 30 Dow companies was Chevron Corp., which rose $8.43, or 12.5 percent, to $75.71. Another big gainer was Exxon Mobil Corp., which climbed $6.48, or 9.4 percent, to $75.41; these two energy stocks represented one-fifth of the Dow's point gain Thursday.

So yes, another case of the Dow industrials representing a contrary indicator to the economic health of average Americans.

[itsrobert]

1. That was the price of oil company stock, not oil.

"The price of a barrel of light, sweet crude rose $2.08 to $58.24 on the New York Mercantile Exchange, after falling to the lowest levels since January 2007."

[Crankie Avalon]

2. SOMEONE made a quick buck today...

...though I guess it wasn't you or me. I wonder how much of today's gain the market will give back tomorrow.

[RB TexLa]

3. Speak for yourself

:party: :bounce: :party:


Got to love market volatility!

The last couple of months have been the first time since 9/11 I've invested in North American stocks.

[ben_meyers]

5. No kidding, rarely does one make a "quick buck", but diligently

researching battered equities can sure build a nice long term portfolio. Not to mention that it's been a great time to "buy dividends" at one hell of a discount.

Anyone who gages the over all market based on the 30 stocks that make up the Dow would be better off investing in lotto tickets.

[RB TexLa]

6. I'm definitely buying dividends right now, that's long term, there are some royalty trusts over 30%

right now.

But a little money riding something on a fast rise day trading is pretty fun. I got stuck with one a couple of weeks ago which is good to remind me that it's just for fun money.

[ben_meyers]

4. Hardly a contrary indicator

Any perceived strength in oil or energy demand would be an indication of increased economic activity.