Worst and Best Trades From 2008
Houghton and Atkeson, January 1, 2009
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3. Oil Going to $200
In mid-July, as the price of oil reached $147 per barrel, analysts predicted it would go as high as $200 within six months. Within four months, oil was in the $40-per-barrel range.
Along with oil, almost all other commodities took a historic nosedive. Legendary investor T. Boone Pickens and commodity king Jimmy Rogers were in the path of this hurricane.
Next: Buying the Market When the VIX Hit 40
More By This Expert
Looking into June, the market should begin refocusing on upcoming earnings reports for evidence the economy is gaining momentum.
Watching the Treasury's Actions
In the short-term, the government's bond auction is likely to be a key driver of stocks.
Treasury Auction Boosts Market
The Treasury's auction of two-year notes brought an upside surprise which should alleviate fears of a lack of demand for U.S. paper.
Credit Markets Point to Upturn
The credit market, a reliable indicator of equity direction, suggests we will break out of the SPX's trading range to the upside.
The market seems to be saying that a 30% move up from the lows is ahead of the real economy and the market needs to allow the economy to catch up.
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