Since Brinker made that prognostication on Moneytalk beginning in late June, the S&P and Oil have seemed to drop mostly in tandem. Both are down big-time since May 31st when the S&P was at 1400 and Brinker was bashing the bad news bears.
Friday, September 5, 2008:
- S&P 500 close: 1242.31
- $Oil close: 106.52
- S&P 500 close : 1224.51
- $Oil close: 102.26
Brinker expert and historian, "Investing" asked some excellent questions
"Does anyone still believe that the oil claims of Brinker was anything but an alibi for being wrong about the market?
Does anyone believe that the reason we are in the pits now is because of the financial mess (I would say continuing CRISIS of epic proportions) rather than Brinker's silly alibi "it's all about oil"?
Now since Brinker seems to deny the existance of the bear market and is, and continues to be, totally clueless about the housing debacle and the credit turmoil, have not any of you Brinker touters come to the conclusion he is a TALKER and not really a marketiming expert?
I have not seen anything whether he has apologized to those "false prophets" and "cassandras," as he called those who were rightfully bearish a few weeks ago. I spose he didn't apologize this weekend.
Did Bob Brinker still claim this weekend that the only reason we are not in tall cotton is the price of oil?"
So is the bull-market back
Because we bailed out Freddie Mac?
Well, if that is
The basis for your investing
Then you deserve a refreshing
First, it was "High oil prices don't matter"
Then, "Lower oil would make it better"
Now oil is down AND markets are crashing
And so all his theories go to the gutter