Bear Market Rally

As I drove around the roads of the tri-state area this weekend I was taken by the volume of traffic on the roads.   Much has been reported about how Americans are cutting back on driving given the high price of gasoline but I could not determine that to be the fact.  Yesterday, I heard a report that the price of gas in the UK has reached an average of $8.50 a gallon.  Is that what we are headed for??  I hope not because as I have said if that in fact does happen it could bring about social upheaval. Still, it seems that the price of oil continues to be in an upward spiral and this cannot be good news for the stock market.  Increasingly, I think the past two months will be viewed as a rally in a bear market. 

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