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Tuesday Outlook: Commodities, Global Markets

One day doth not a market define. Nor one week for that matter. As the previous commenters mentioned, people believe what they want to believe. In this case, the shorts want to believe that based upon one slightly down day, the bear market is back with a vengeance. The longs want to believe that it's a blip in the road. In my admittedly unprofessional opinion, the market gyrations on any given day are simply statistical noise. Any one who believes they can read through the tea leaves to interpret the future based upon daily market swings is either deluding himself (or is perhaps a former analyst from Bear Stearns or Lehman!). Fortunately I don't make my living on day trading, nor do the majority of investors. I think it's going to be a long climb before we get back to Dow 14,000, but it will get there. Whether it happens in 3 years or 15 years, no one honestly knows. But it's like college football weekly rankings... there are few reasons to believe any one's opinion, but it sure is interesting to talk about.