Interest rates rise as bonds slump

CLOSING NUMBERS STOCKS/METALS/OIL/COMMENTARY SELL INTO STRENGTH /TAKE PROFITS/ SELL DOLLAR DENOMINATED SECURITIES 8-21-08) DOW +12.78 NASDAQ – 8.70 S&P +3.18 [Absolutely, Absurdly, Riduculous! all news decisively bad beyond expectations though fudged to upside for election year, Leading indicators down .7%, unemployment near record levels,Oil jumps $5 on US-Russia tensions, sliding dollar , hence great opportunity to sell/take profits since all problems remain and dollar mini-spike short-lived. Wholesale prices: Highest annual rate in 27 years . The Strong Dollar Illusion . Housing starts and building permits posted steep declines...Similarities between 1929 and 2008 terrifying [In just the month of June, the Dow dropped 10.19%; the S&P fell 8.60%, and the Nasdaq lost 9.10%. For the quarter, the Dow fell 7.44%; the S&P lost 3.23%, while the Nasdaq had an anemic 0.61% gain. For the first half, the Dow is down 14.44%; the S&P lost 12.83%; and the Nasdaq has fallen 13.55%. Since their high point last October, the Dow gave up 19.87%; the S&P dropped 18.22%; and the Nasdaq is down 19.80%. A 20% drop from a market peak is considered the start of a bear market — although many analysts say Wall Street already has a bear market mentality (because the bear market already is. Some chart data/numbers on bear markets: first chart second chart).] [CLOSE- OIL $121.18 (RECORD TRADING HIGH $147.27) GAS $3.83(REG. GAS IN LAND OF FRUITS AND NUTS $4.00 REG./ $4.91 MID-GRADE/ $5.00 PREM./ $4.66 DIESEL)/ GOLD $839/ SILVER $13.74 / PLATINUM $1,389/ DOLLAR= .67 EURO, 108 YEN, .53 POUND STERLING, ETC. (HOW LOW CAN YOU GO - LOWER)/ 10 YR NOTE YIELD 3.83% http:www.albertpeia.com/wallstreetlunacy2ndqtr10108.htm http://www.albertpeia.com/alresume65393.htm http://www.albertpeia.com http://www.albertpeia.com/currentopics2ndqtr10108.htm