Right from the home of Jerry West, and where John Denver called "home" we're working hard in Bridgeport, West Virgina. If you have ever travelled extensively to "business conferences", you will certainly remember the deer in the headlights appearance of most people. Had breakfast with a roomful of them this morning.
On to the good news....
Now to the bad news - you go away for 24 hours and all he(double hockey sticks) breaks out. A 500 point drop on the TSX and 400 for the Dow seems to show that past predictions are accurate. To refresh your memory, what he found was that the market retested its lows “without fail” in every case. On average, it took 35 days from the initial trough to an interim peak, and another 35 days to retest the lows before stocks moved higher for good.
For everyone who complained about the price of gas at the pumps in July, the price of a barrel has dropped from a high of $147 to $56. It's cheaper to gas up your car now, but you don't want to go anywhere.
Sorry for the short notes - on to Charleston South Carolina today.