Blog: All posts by Tom Haugh
Will it Take a Musket Some Day?
By Tom Haugh on March 16, 2009
Good morning. A whole different tone in the market this morning from prior weeks, with the stock market staging a significant rally last week. Last week the S&P was up $7.17, from a close on March 6 of $68.92 to a close last week of $76.09, a gain of 10.4%.
Predictions
By Tom Haugh on March 9, 2009
Good morning. Yet another horrible week for the market, as the SPY continued its seemingly relentless slide lower. The SPY finished the week at $68.92, down 6.8% for the week, bringing the yearly carnage to 23.7%. These numbers are despite a fairly substantial closing rally last Friday that had the SPY close 2.7% above its low print, and actually finish up slightly on the day.
Governmental Overload
By Tom Haugh on March 3, 2009
Good morning. The weekly report on “last” week is starting to sound very familiar, with no good news for the market to be found. “Last” week the S&P was down another 4.5%, down from $77.42 to $73.93, bringing the yearly drop to an astounding 18%. Reasons abound, a good example being the government revision of fourth quarter GDP numbers from a minus 3.2% annual growth to minus 6%, way more than most had envisioned.
Nationalizing
By Tom Haugh on February 23, 2009
Good afternoon. There was continued market fallout in the last week’s holiday shortened week, with the SPY down an additional $5.44, or 6.6%. That brings the decline this year to 14.2%, and it is only the middle of February! The XLF, the financial sector of the S&P 500, was down 16% on the week to a total decline of 40.6% so far this year.
The Heart of Darkness
By Tom Haugh on February 18, 2009
Good morning. The hits just keep on coming. Last week the market (SPY) was down $4.22, or 4.9%, and yesterday it followed up with another drop of $3.54, or 4.2%. That brings the unhappy totals for the year to down 12.2%, and it is only mid-February. Yesterday’s “official” reason for the sell-off was the continuing stream of bad economic numbers from Asia and Europe. Remember how we were forced to listen to some of the so-called “experts” within the last couple of years ago telling us how Asia was so strong that even if we went into a recession it would not matter to them? How is that theory working? And why were those morons on my TV set?