In this week’s podcast, Mary and I argue that since the stock market never priced in the huge run up in oil prices this spring...a decline in crude prices is not going to help the stock market rally a lot further. Instead, it is going to depend on continued flow of net liquidity into the system.
This CAN take place, so we’re not turning wildly bearish. However, given that the earnings growth for the vast majority of S&P companies is mediocre, the issue of earnings growth is not playing the kind of bullish role that the mainstream on the Street says it is.
Finally, we’ve had some GREAT picks over the past several weeks...and we provide a few more in this week’s episode.
