Wednesday, July 23, 2008

Market stabilizing?

I don't want to sound too optimistic yet, but we are seeing oil heading toward more fundamentally stable prices at $125 a barrel. Many analysts are predicting a floor of $120 where it will hover for some time.

Definitely, while a lot is behind us, we are not out of the woods yet. Banks need another positive quarter. We need to see the housing market bottom out. Oil and dollar needs to stabilize. Then, we can finally call an end to this mini-recession.

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