Stocks Now Down For The Year

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Stocks are still up strongly since Obama said stocks were cheap, but after briefly being up, stocks are now down for the year.

The S&P 500, at 897, is six points off its 2008 close of 903. The Dow, for its part, is off 400. It had briefly stuck its nose above water a couple of weeks ago, but has been sliding.

Oil, down 3$ a barrel, sticks out like a sore thumb today, since presumably it offers a pretty spot-on read of investor sentiment about the real economy. Gold is also around $900, tracking the S&P perfectly.

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