Sunday, April 10, 2005

No respect, I tell ya.

The New York Times today headlined their "Mutual Funds Report" section with an article titled "The Quarter When Nothing Worked". [registration required]

But on the same front page they display a graph showing a sector by sector listing of fund performance for the quarter:

Natural resources +13.34
Utilities + 2.68
Precious metals - 3.84
Health - 4.99
Financial - 5.31
Communications - 5.29
Real estate - 6.37
Technology - 8.56

[You can view by going here and putting your pointer over "Sector by Sector" on the list of "Charts:" to the right.]

Meanwhile, FoxNews saying the "Oil Price Bubble May Have Started to Burst".


"The sky is falling," said Tim Evans, analyst with IFR Energy Services (search). "Sell sky."

"This is it. This is the dam break," said Ed Silliere, analyst with Energy Merchant Intermarket Futures (search). "I'd have to say the bull market is done."

If you go back through my recent posts, you'll see a number of people suggesting a weak period in the short to medium term, among them John Segner, Jim Rogers, Charles Maxwell and T. Boone Pickens, but they also all believe that longer term we are going higher.