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Just Wondering
Posted on 07/26/2008 15:56:48 | Link | Post Comment
A few months ago wasn't there a line of thought from some bullish folks that things would be ok as long as energy continued to do well?
If I have my story straight, energy, as measured by the Energy Sector SPDR (XLE) and iShares Energy ETF (IYE), peaked on May 20 and since then they are both down about 18% versus an 11% decline for the S&P 500.
I never subscribed to that line of thought as I have been expecting this to be a normal bear market (which means down something close to 30% from the October peak) complete with feel good rallies along the way but I'd be curious to hear anyone update this line of thinking.
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