Where will Wall Street prices go next week....

[whistle]

<snip>

Associated Press
Oil, Economy Hot Topics on Wall Street
Sunday October 24, 2:08 pm ET
By Michael J. Martinez, AP Business Writer
Oil, Economy Hot Topics on Wall Street This Week; Investors Should Cheer Energy Companies' Reports


NEW YORK (AP) -- When will oil prices fall? For investors holding energy stocks, there's no rush. But with the third-quarter gross domestic product report coming out this week, the rest of Wall Street would prefer sooner rather than later.
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Crude oil futures have remained over $50 per barrel for most of October, with no signs of falling back any time soon. And with oil's steady climb since the summer, energy stocks have performed exceptionally well. Earnings due this week from Exxon Mobil Corp. and ChevronTexaco Corp. should give investors in those stocks further reason to cheer.

But for the economy as a whole, oil prices have already cut into consumer spending as well as corporate profits, and it's become difficult for companies to raise prices to cover higher energy costs when consumers don't have the means to pay them.

<link>
http://biz.yahoo.com/ap/041024/wall_street_week_ahead_2.html

Friday's DOW closed at: Dow 9,757.81 -107.95

[R3dD0g]

1. 9500 by Nov 2. n/t

[cliss]

2. It can only go in one direction:

down. With oil prices hovering around $50 per barrel, the market has no chance of moving up. I've read threads here where they're even predicting oil will move up to $60/barrel, it's time to start seriously start looking at the stability of the whole system.

If anyone's interested, look in LBN (Latest Breaking News) about the thread where Russia refused to prop up the dollar. This happened on Friday, and market pundits are expecting a serious drop in the market tomorrow.

The posts below are very interesting.

Not looking good.....

[whistle]

3. Uhmm, so this poll may actually be in direct conflict with where the...

...market may be heading in the next two months:

<snip>
Poll: Money Managers Bullish on Stocks
Sun Oct 24, 2004 02:50 PM ET

NEW YORK (Reuters) - More than 56 percent of U.S. money managers are "bullish" or "very bullish" about the U.S. stock market near term, forecasting stocks will move higher in the next eight months, according to a new Barron's poll.
Those surveyed expect the Dow Jones Industrial Average to hit 10,724 by the end of the year and jump to 11,162 by June 30, 2005, driven by "falling oil prices, a relatively strong economy and the re-election of President Bush," the weekly newspaper said in its Oct. 25 edition.

Six months ago, the average forecast in the poll was for the Dow to hit 11,042 by the end of the year.

The Dow average closed at 9757.81, down 108 points on Friday.

Roughly one in three managers said he is lagging behind the S&P 500 market index in his own or clients' accounts, Barron's reported.

The newspaper said most managers expected the U.S. economy to grow more slowly in 2005 than this year.

They see a flatter Treasury yield curve than they did in the spring, Barron's said. About 60 percent of respondents expect the dollar to lose ground in coming months against both the euro and yen.

Their favorite stocks included Newmont Mining Corp. (NEM.N: Quote, Profile, Research) , Citigroup (C.N: Quote, Profile, Research) , General Electric Co. (GE.N: Quote, Profile, Research) , Pfizer Inc. (PFE.N: Quote, Profile, Research) , Intel Corp. (INTC.O: Quote, Profile, Research) and Amgen Inc. (AMGN.O: Quote, Profile, Research) .

Barron's said 85 percent of respondents expected President Bush to win re-election.

The latest Big Money poll included responses from 92 U.S. managers, with varied investment style and portfolio size.

<link> http://www.reuters.com/newsArticle.jhtml;jsessionid=MRNALQPP1JJPKCRBAEZSFEY?type=businessNews&storyID=6590815

I think the market will drop until the election, then depending on the winner, will react favorablly to a Kerry win across the board and selectively to, God forbid, a win for Bush.