NEW YORK (TheStreet) -- The much-anticipated break of oil prices above $100 a barrel kicked in Wednesday on news that Enbridge(ENB_) and Enterprise Products Partners(EPD_) have agreed to open a crucial US oil artery by mid-2012.
I saw an article yesterday on Marketwatch that suggested the market was "ADD". I'm starting to think there is some truth to that. I'm no economic expert, but I can't make any sense out of the roller coaster ride that is the World market right now. Is the market really full of Chicken Littles? And can all this craziness actually by good for anyone?
Tomorrow the stocks will probably rocket up 300 points. All you need to do is write some bogus report that says the Europeans are going to make everything right or that the Supercommittee has found $4 trillion in cuts. Seems pretty dumb to me. Are investors that impressionable?
I'm not so sure it is a matter of strange as much as an issue of large investment firms paying the game of buy low and sell high. In a way I see them actually manipulating the market. Otherwise their returns would suck. Of course this is idel speculation on my part.
Percentage wise 300 point swings are pretty mild. But I do think the market is still skittery. I am still undecided if I should get back in or is another recession just around the corner.
Thomas Sowell: There are no solutions, just trade-offs.
