Stock Market Rally Fueled by Cheaper Oil(Cheaper Oil Fueled by Re-Election of George Bush...)

Yahoo!/Reuters ^ | 12/4/2004 | By Richard Satran

[gotmatt]

NEW YORK (Reuters) - Oil is still king on Wall Street -- and if you don't believe it, just take a look at this year's stock market charts.

Stocks have been climbing sharply since the end of October when oil began its 20 percent decline from $55 to below $43.

The major stock averages have climbed sharply during that time frame. The Dow industrial average hit a year's low of 9,708 on Oct. 25 and is up 10 percent since then. The Standard & Poor's 500 hit its highest level in three years this week.

Some analysts have long suspected that oil was getting too expensive based on pure supply-and-demand concerns. Inventories have been building for months but oil was hovering above $50.

The reason oil kept rising, they say, is that "herd investing" took over. Fast-moving hedge funds have been playing in the oil patch much of the year. Recently, those funds have dumped oil and poured back into stocks.

"The fundamentals didn't appear to justify $50 oil," said Christine Callies, chief market strategist for Bessemer Trust. "A lot of the move upward appeared to be technical."

[gotmatt]

Cheaper Oil Fueled by Re-Election of George Bush... Of course this is not mentioned

[GSlob]

Well, it's good and satisfying to see that my vote for GWB is already paying off. Yes, it feels good and satisfying.

[Kolokotronis]

""The fundamentals didn't appear to justify $50 oil," said Christine Callies, chief market strategist for Bessemer Trust. "A lot of the move upward appeared to be technical.'"

Bull! The market was being manipulated by Bush's Saudi "friends", Europeans and the likes of Soros to get Bush out and Kerry in. It didn't work, thank God!

[Perdogg]

Maybe George Soros has stopped trying to wreck the US economy since the elections are over.

[citizencon]

The economy is definitely on its way to a complete recovery. Imagine if Kerry had won, he would have gotten the credit. Just like Clinton received the credit for an economy that was already turning around during Bush 41's last days in office. This is Divine Providence. Long live GWB.

[jriemer]

The reason oil kept rising, they say, is that "herd investing" took over. Fast-moving hedge funds have been playing in the oil patch much of the year. Recently, those funds have dumped oil and poured back into stocks.

If it were "herd investing", they why as far back as May did the December PEMEX futures cost $10-15/bar less than in November?

[KwasiOwusu]

"Maybe George Soros has stopped trying to wreck the US economy since the elections are over"

Huh?
Can the leopard change it's spots?
George Soros will always be evil. Started off when he collaborated with Hitler's Nazis.
Trouble is, he couldn't keep manipulation the price of oil forever, given that the price of oil had advanced far, far, far more than the increase in demand warranted.
You can only go against market forces for so long.
Soros went flat out to manipulate the price of oil to get George Bush defeated, now market forces have finally caught up with this super evil man.
The Bush victory just keeps giving every single day.
When I hear of rabid Blue State liberals being depressed and visiting shrinks, it brings a very bright smile to me face.
Hopefully George Soros is even more depressed than most.
Couldn't happen to better people. :)

[Dane]

Well, it's good and satisfying to see that my vote for GWB is already paying off. Yes, it feels good and satisfying

And hopefully George Soros took a bath with his tears with his losses.

[the invisib1e hand]

I think it would be more accurate to say that the stock market rally was held back by higher oil prices. Not just semantics, either.

[JohnEBoy]

I want to know ... when will the CEO's of Exxon, Shell, BP, etc. be called before congress and be forced to explain this $13 drop in the price of a barrel of oil! After all, it can't just be market forces, whenever the price goes up, CEO's are blamed for conspiring. So is this recent drop a conspiracy, too? Inquiring minds want to know!

[101st-Eagle]

Clinton received the credit for an economy that was already turning around during Bush 41's last days in office.

And a little down the road from that point a spider monkey could have been president to cruise on the kind of economy spike that came about due to the tech explosion.

[Dave Burns]

Senator Kerry said that there was a secret plan to manipulate oil prices to effect the outcome of the election. It appears that if Senator Kerry of the intelligence committee was correct in that there was manipulation, it appears it was done by those that did not want the reelection of the president. I'm sure Senator Kerry's comments were not baseless. He is well aware of the effect that high oil prices had on investors and consumers as well as those who were laid off. We should have an investigation.</p>

[johnb838]

I'm with you. I don't want healing from this election any more than I want "closure" from 9-11. I want to keep the momentum rolling and I want to steamroller the treasonous left into oblivion. I doubt I'll see it in my life time, but maybe the only reason for my life now (besides knowing and sharing the love of Jesus Christ) is to cast my votes toward that goal.

Actually my hope is that if we keep the momentum going the leftist "PC" crap might crumble faster than we think.

[jriemer]

George Soros will always be evil. Started off when he collaborated with Hitler's Nazis.

We can all agree that Soros is an evil Leftist but how much market manipulation and collaboration can a 15 year old do with the Nazis by the time the Allies conquered Axis Germany?
"George Soros was born in Budapest, Hungary on August 12, 1930" Source: Soros.org

[KwasiOwusu]

"We can all agree that Soros is an evil Leftist but how much market manipulation and collaboration can a 15 year old do with the Nazis by the time the Allies conquered Axis Germany?"

I think you misunderstand me. I am not saying he started manipulating the markets when he was 15. No way. We didn't even have hedge funds then.

I am saying he's been evil since his alleged collaboration with the Nazis. There is plenty of unanswered questions about George Soros and exactly what his relationship with the Nazis was during World War II.

But I still say, Soros manipulated the oil markets this year, to try and get George Bush defeated. After all he is one of the biggest players in the Hedge funds referred to in this article.

Plus he's done all that before. He manipulated the markets to bring the British Pound crashing down and sent interest rates through the roof in Britain, causing hundreds of thousands in Britain to lose their homes, and hundreds of homeowners to commit suicide.

I should know, I lived in Britain at the time, and I had a mortgage at the time too.

[jriemer]

Plus he's done all that before. He manipulated the markets to bring the British Pound crashing down and sent interest rates through the roof in Britain, causing hundreds of thousands in Britain to lose their homes, and hundreds of homeowners to commit suicide.

He also was responsible for the currency crashes along the Pacific rim and Mexico. The fact that America bailed out Mexico and yet Leftists smile when they hear Soros' name bothers me to no end.