SPDR S&P 500 (SPY): Banks and Brokers are funny. 1st it was...

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learningboutinv

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learningboutinv

Re: Fox13 post# 51490

Wednesday, 06/04/2008 11:24:26 AM

Wednesday, June 04, 2008 11:24:26 AM

Banks and Brokers are funny. 1st it was all about downgrading each other. (Were they hoping that customers may jump ship and go to them if they decide to say something bad about their competition?) Now they are trying to upgrade each other. (Is it b/c they are really worried? - the house of cards type deal.)

BTW - Oil is weird... So this report came out:

"The Department of Energy just announced that crude inventories for the week ended May 30 fell 4.8 million barrels, compared to the expected increase of 400,000 barrels."

But we are now down to $122.98 for crude from the $135 high and down $1.38 today. (Not that I am complaining, since gas is $4.35 for 87. But the markets never make any sense.) I only read these headlines now for amusement then anything else.

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