A Strange Day

The Saudis told the Prez to take a hike. They won't loosen their grip on oil. The price per barrel shot up to $127. Secretary Paulson is in positive speak mode, just like Bernanke. Paulson sees the light at the end of the tunnel for the housing crisis. Housing starts were released today, and the news was good. Of course, most of the upswing came in the multi-family area. Senator Dodd is also singing good news. Congress is near new legislation that will assist homeowners. This strange combination resulted in a slight uptick for the S&P but slight losses elsewhere. DJIA -5.86 NASDAQ -4.88 S&P 500 +1.78