We read several gloom-and-doom bloggers on the economy who seem to know what they are talking about. And yet… most stock prices seem to be steady or going up.
Better yet, after watching dividend moves for all stocks that the WSJ print edition reports on in their little box that shows up four days a week, its hard to find a company lowering or cutting their dividends. These may be related, of course.
Of course, not all individual stocks are going up. Take a look at the WSJ article on Exxon (NYSE:XOM).
That story did not make us happy, but may explain some of the company’s problem.
Here’s the lead graf:
Exxon Mobil Corp. snatched away a major Arctic exploration deal with Russia’s OAO Rosneft from competitors including BP PLC in a sweeping agreement that for the first time gives a Russian state-controlled company access to energy projects in the U.S.
Surely you all remember how annoyed we were with BP for trying to do the same thing and failing miserably. The Russians played BP like a banjo. It reminded us just a bit of the book and movie, Deliverance. This is two groups of people who have absolutely no idea of how the other group thinks.
IFO’s opinion? By tomorrow morning, she will not be holding any shares in XOM. Shares have not gone up like so many other company stocks anyway. Just sayin’