Another Day, Another Bottom
May 6th, 2008 by 
reality
Hard to keep in close touch from here, in a little harbor on Ithaca. We went by, but Penelope wasn’t home. However, it looks like yesterday was yet another primo example of misplaced speculative enthusiasm as the Fannie Mae execs who didn’t see the credit problems coming claimed that they were leaving
Furthermore, the commodity bubble (just look at the charts - no pullbacks or wall of worry - that’s a bubble) roars on to its inevitable demise. How about $5/gallon diesel - that’ll really make the transportation stocks go much higher based on current market “logic”.
Posted in Commodities, Fixed Income, Manias, Stocks | 