While many are focusing on the infamous bankrupt entities as the primary culprits for the market losses, once must recognize that several companies that have not been besieged by fraud allegations have also lost billions in value.

If powerful upward earnings estimate revisions have not been able to drive equity prices higher, we suspect that downward momentum in such estimate revisions may cause further stock market weakness to emerge in the next few months.

It seems as if we have re-entered the bizarre world in which every piece of news must be interpreted as being bad for equity investors.

We're focusing on educating this market.

Larger imports apparently more than compensate for production losses in the Gulf.

The culprits must be punished,