Posted on 03/07/2011 1:37:24 PM PST by NormsRevenge
NEW YORK (Reuters) - Technology stocks sold off after a brokerage downgrade on Monday, leading the market lower, while uncertainty over higher oil prices looked set to drive volatility in the days ahead.
Wells Fargo downgraded the semiconductor sector, noting it has more than doubled in two years. The PHLX semiconductor index (^SOX - News), up 45 percent since the start of September, fell 2.7 percent. The broad S&P 500 is up about 25 percent in that period.
(Excerpt) Read more at finance.yahoo.com ...
Can you remember the highest a gallon of gas got under Bush??? Just wondering....I can’t remember.
I remember here in the midwest gas got to just over $4 a gallon under W. I was thankful that I never had to pay that, I think the most I paid was $3.99, then it started going down before I had to fill up :)
Most I have ever paid, to date, is $3.99 a gallon.
It hit 4.00 dollars a gallon at one point— Mabye 4.05?
California was probably higher.
What we need is a cabinet level department focused on energy independence. That would solve this problem.
Oil majors are off, too. Even RDS-A, which is supposed to be a mirror of oil prices.
I would think high gas prices would make technology more valued, in the long run.
We banged against the lower side of a 9 month channel again after hitting it last week. Not much bounce or buying on the other side. Fundamentals are starting to weigh the market down.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.