Tuesday, October 03, 2006

Dow Sets New Record!

woot!

The Dow Jones Industrial Average finally closed above it's previous record high from back in 2000 before the tech bust.

Read about it here from Bloomberg.com, or about 500 other places.

Of course, October is historically one of the most volital monthes for the markets, and these kinds of highs are generally followed by a soft period for a couple of weeks, so I wouldn't be supprised if we saw a pullback of several hundred points in the near future.

This ralley was apparently driven by today's rapid (at least temporary) drop in oil prices, to $58.68 a barrel. I would be tempted to call this more of a normalization in prices, because I feel that the crazy $80 a barrel prices were just that - crazy. And artificially inflated. Crazily artificially inflated. [Well crap, I just lost any shred of credibility I may have had. Oh well, F*** it.]

Lets see how long it takes for Colorado gasoline prices to fall as well. I'm guessing around Thanksgiving we might catch up with the rest of the nation. ($2.55 here versus $2.12 elsewhere. Oi.)

3 comments:

Alyssa said...

Hey, can we add you to our listings? Or do I need to perform some sort of sexual favor...

TracieLacy said...

Down girl down! He's mine, and very cute i might add!

Alyssa said...

yup, and he lives in Colorado!

lets share em'