Golden Jackass Tobacco Shop

[Frank Pembleton]

Jim... a simple utterance from me, I can't see them cutting interest rates not in the face of falling oil prices. Just keep in mind that oil is key-- $30 oil is pretty much the ceiling for US economic growth, it always has been in the past. -- Falling oil prices might even give the fed a reason to hike interest rates -- yes, hike them! You can't hammer the ME with low oil prices and devalue your currency at the same time.

No way.

They probably will lower rates again, but I'm in strong disagreement if they do.
-
-
...as for whether the stock market is overbought, I just charted about 50 stocks this evening and the only stocks that are overbought are the same Nazcrap that were extremely oversold. I do see some retrenchment, but the next bull round belongs to the DOW Industrials.

Regards,
Michael