Ebola nurse goes for a bike ride: Will she become Typhoid Kaci?

Why this stock market may have another 20% left in it

Simply stated, the market has another 20% in it because it hasn't yet reached the extremes of valuation which we witnessed in 1999. That's not to say that it must reach those extremes, but it is possible.

At that time, total market cap to GDP came to 1.72, using the Wilshire 5000 as a proxy for the total market (times 1.2).

Since current dollar GDP is $17.5354 trillion, the current ratio is only 1.42, but the level of the Wilshire 5000 implied by a ratio of 1.72 would be about 20% higher than where it is today (total market cap of $30.1609 trillion or Wilshire 5000 25,134.07).

The Wilshire 5000 starts the day at 21,005.50.

Good luck!

Falling oil imports/record rising refined petroleum exports account for today's startling trade contribution to GDP

The Oil and Gas Journal reports here that September petroleum imports plunged to the 1995 level while September was a record month for exports of refined products:

Total petroleum imports for September registered a 16.3% drop from the prior year, averaging just below 8.4 million b/d, which was the lowest level since February 1995. Crude oil imports averaged 7.4 million b/d, down 6.7% over the same period, to the lowest September level in 18 years. Imports of refined petroleum products dropped 52.5% to average 1 million b/d, the lowest level for US Energy Information Administration records dating to 1981. Meanwhile, exports of refined products increased 18.4% from last year to nearly 4.3 million b/d, the highest September level on record and the third-highest exports level ever recorded.

-------------------------------------------------

Imports are a subtraction from GDP, so the big drop in imports coupled with a big surge in refined petroleum exports in September no doubt contributed significantly to the net plus to GDP in the trade column of today's report.

The American Petroleum Institute reports separately here that imports of petroleum in 3Q2014 were 11.4% lower than in the same period in 2013.