“Scared out of the stock market by high oil prices? If you have, you're making a big mistake!” Wrote Ken Fisher in his Forbes column. There is no credible cause-and-effect relationship between oil and stocks. There are some more factors uncorrelated with stock market performance: the market's overall price/earnings ratio, high volatility as measured by the VIX index, gold, trade deficits, the dollar's level, consumer sentiment, investor sentiment as measured by the "Investors Intelligence" data. So don't panic when any of these go up or down. Buy good stocks and hold them.
http://www.forbes.com/columnists/business/forbes/2005/0815/102.html
http://www.forbes.com/columnists/business/forbes/2005/0815/102.html
