Santa Claus Rally Continues;Where Oil Is Headed

I want to wish all of you a Happy and Merry Christmas.Thank you for coming to the blog.It's a Christmas party day.
Wall Street was in a party mood,with tech stocks leading the way as investors gobbled up shares of Intel,Qualcomm,Apple and Facebook.The S&P 500 reached its 50th record high of 2014 today,closing at 2078.54,up 0.38%.The Dow Jones Industrial Average also broke its record,closing at 17959.44,up 0.87%;and the NASDAQ closed up for the day at 4781.42,up 0.34%.*
I think oil probably does stay down here-maybe just a tad lower,says Dennis Gartman of The Gartman Letter.I think the time for being overly bearish on crude oil has probably passed.I doubt that we're going to see a great good deal lower from here.Clearly we see demand has decreased a good bit,and supply has increased a good deal.Libya and Kurdish have come back on the market.This was very complicated.There were a lot of things happening.
The Keystone Pipeline would have an amazing response.It can only be beneficial to us and to our Canadian friends to the north.*
I'm really skeptical about China,said author and investment banker Chis Whalen.China is pulling in credit.I think we're pretty stable into next year.I think oil will stabilise in the mid-60s.There are two stories here:large cap oil got sold off;I think you'll see the majors recover.The small ones that have been in the loan markets are going to have to deal with this.
I think in a lot of ways,consumers have still been suffering,because the cost of living still goes up.While low oil prices are good for the US,they're not good for the rest of the world.What's the catalyst for growth in the emerging markets if commodity prices are flat?Mr.Whalen inquired.*
Apple Computer(AAPL),Intel(INTC),Qualcomm(QCOM),Facebook(FB)