| On Sept. 3, the Dow Jones industrial average--the
indicator for the blue-chip stocks--roared upward 235
points. Standard and Poors 500 Index also climbed
dramatically and the NASDAQ composite index--concentrating
on high-tech stocks--had its largest one-day gain ever. The
rally helped the bond market and lifted the dollar, which
was sliding recently against the euro and the yen. |
| It was ironic that on Sept. 3, the day the stock market
hit that high, AFL-CIO President John Sweeney rang the stock
markets opening bell. Whatever the reason for his
participation that morning, it was certainly welcomed by
Wall Street. |
| In Jackson Hole, Wyo., thousands of miles from the
feverish ups and downs of Wall Street, Federal Reserve Chair
Alan Greenspan delivered a major speech at the annual
conference on monetary policy issues. Amid sparkling lakes
and distant mountains, Greenspan characterized the booming
stock market and rising real-estate prices as a bubble that
could burst. |
| NuElectric Corporation - Trading Symbol OTCBB: NRGE
Shares Outstanding: 3.8 Mil
Est. Shares in Float: 400 K
Long Term Debt: None
Recent Stock Price: $0.94
52 Week Price Range: 3/8 - 2 |
| My guess is that in the next several months the news will have something about oil
prices rising and the stock market falling dramatically in response. With that
news item. Belatedly the TV news reporters such as Nightly Business Report and
Wall Street Week and the CNN will finally turn their ship around and see the link
between oil and stock market and on their news broadcasts the reporters will again
flood the airwaves with news of oil and stock market and how the two are linked.
They will no longer bother everyone with irrelevant issues such as Intel, Cisco,
Nortel layoffs and earnings decline expectations. Instead, they will report the
real-news, the real news that oil is moving higher and thus the stock market is in
for a prolonged bearish stock market. |
