On The Street...

August is past, and it’s traditionally a blah month in the market. We saw the tech stock fantasia start to go poof starting last year and that dragged the market down. For a variety of reasons we’re teetering on the edge of recession (all kinds of recession-like things going on with odd here and there indicators acting like recovery is underway).

My company’s stock has dropped from 23 to 9 in 6 weeks, on the heels of 3 record quarters. We’re not a tech stock, we’re a 38 year old drilling and petroleum company and we’re doing well otherwise. But I can compare any of many other energy stocks and their curves all track ours.

So, are there any economics prognosticators out there who’d care to hazard some predictions?

The company I work for keeps hitting new 52 week highs. OF course, tailored suits are supposed to be coming back in style, so that bodes well for us.
As far as predictions? I have none. I keep telling people that the economy is going down hard, but I really hope I’m wrong.