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Rocket 200 points . First we were oversold going into todays session. The sellers have been so willynilly we were down seven Straight Days for the dow, something we havent seen in four years and that was back when we were in mired in political controversy. The sellers recognized they are destroying the stocks they are selling. And buyers step in. We were due for a bounce. We got it. Second we got the best of both worlds from china. China became part of the cocktail hour at the beach this weekend. But it rallied up hard last night. The soft data got people to think maybe the Chinese Government will do more to prop up the economy. The rally in the stock market involved the government putting together some mergers. I dont think it will work in the long term. Third, Warren Buffett made a 37. 2 billion acquisition buying p ....
Working are downright toxic. Specifically the banks, the restaurants, and the retailers should be on fire right now. But instead they are houses on fire. And theres no letting up in the flames even as the averages rebounded hard today. After opec announced it might cut back half a Million Barrels of production in november. I think this is more of the same where they rumor the price high, which worked again, and then kind of do nothing meaningful. Nevertheless, as i have said over and over again to you, anything that drives oil higher takes stocks higher, and thats sure what happened today with the dow ultimately gaining 111 points, s p climbing. 53 percent. The linkage remains that great even as i urge you to be skeptical of any socalled deals when there is such a worldwide glut of oils. We need millions of barrels to be cut, not less than a million. This means the amount will not give you a lasting impact. I want to talk about w ....
Should be on fire right now, but instead they are houses on fire. And theres no letting up in the flames even as the averages rebounded hard today after opec announced it might cut back half a Million Barrels of production in november. I think this is more of the same where they rumor the price higher, which worked again, taking oil up almost 5 , and then kind of do nothing meaningful, which is also what keeps happening on these kinds of deals. Nevertheless, as i have said over and over again to you, anything that drives oil higher takes stocks higher, and thats the dow ultimately gaining 111 points, s p climbing 0. 53 , nasdaq advancing 0. 24 . The linkage remains that great even as i urge you to be skeptical of any socalled deals when there is such a worldwide glut of oil, one that would need millions of barrels to be cut, not less than a million. This means the amount will not give you a lasting impact. I want to talk about wh ....
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