FW: Photo_shop Video Teacher R5ec6726aol8

Bite my shiny metal ass, spamming twunt.
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From: Bender
Sent: 13 April 2006 21:45
To:
Subject: Photo_shop Video Teacher R5ec6726aol8

NEW YORK - Forget Goldilocks. Pollyanna's been running up and down Wall
Street lately, annoying bears and bulls alike, and she doesn't seem to be
getting tired - yet. Oil is back near $70 a barrel, gold is flirting with
$600, a 25-year high, and the 10-year Treasury yield is back up near 5
percent, its highest in almost four years - all classic signs that some
investors think inflation's about to make a comeback. The details See more
Special Reportfull coverage Oil drifts below $69 Summer gas prices on the
rise Cut your costs at the gas pump Ready for $262 a barrel oil? Yet stocks
are doing just fine, considering, posting modest declines at most over the
past few sessions. "The stock market is wobbling, but not tipping," said
Douglas Altabef, managing director at Matrix Asset Advisors. In fact, the
major gauges remain near multi-year highs and the Russell 2000 index of
small-cap stocks is near its all-time high. Why is that? It may be that the
factors lifting oil, gold and interest rates are also lifting stocks, said
Stephen Leeb, president of Leeb Capital Management. "The rise in
commodities, interest rates, all of this is a reflection of worldwide
growth," Leeb said. "That's why the stock market is not crashing." The surge
in gold prices - traditionally seen as a hedge against inflation - could
also be a reflection of broader demand for the commodity around the world,
Altabef said. As long as all of these other markets can keep rising, that
should help support stocks, Leeb said. "The risk is if one of these markets
became explosive," he said, that could upset the balance. So are stock
investors just delaying the inevitable, or are there enough factors in place
to keep stocks from sinking? The sky is falling Surging oil prices, gold
above $600 an ounce and rising rates could add up to a nasty environment for
stocks, said Paul Mendelsohn, chief investment strategist at Windham
Financial Services. And the market could be especially vulnerable if oil,
gold and interest rates surge further, he said, noting that such an
environment would be somewhat the opposite of what happened in 1982, the
start of what the Stock Trader's Almanac calls the "super bull cycle" that
stretched on and off until 2000. Inflationary pressures similar to now were
in play in 1982, Mendelsohn noted, but receded gradually the next few years,
enabling stocks to rise. The run up in long-term bond yields in recent weeks
could be another big negative for stocks, since it means bond traders are
betting the Federal Reserve will push short-term rates higher than had been
anticipated. Stock investors are betting on one or possibly two more rate
hikes from the Fed. But should yields keep rising, stock investors may have
to start factoring in the possibility of more, which would be bearish for
Wall Street indeed. "If inflation doesn't accelerate much from here, and the
Fed just raises rates a little more, we might see something like the end of
the 1990s again," said Stephen Stanley, chief economist at RBS Greenwich
Capital. "But if the Fed has to really ramp up to fight inflation, it's
going to be a much worse environment than investors