Blog
About That “Flash Crash”…
May 24, 2010
Good morning. Wild and down market last week, despite the late day rally on Friday. For the week the SPY was down 4.78 (or 4.2%) to close at 109.11.The low on Friday of 105.36 was only slightly above the so-called flash crash low of 105, not a pretty site if you were in the camp that the “flash crash” was just an anomaly.
This Island Earth
May 10, 2010
Good morning. Wild and down market last week, with the SPY closing down 7.55 (or 6.4%) to close at 111.26. The VIX spiked up 85% to close at 40.95, signifying that the cost to protect positions had risen dramatically, and actually closed Friday night very close to the high. In addition the market had a nightmare day on Thursday, with the markets spiking down and coming virtually unglued for a brief time in the afternoon. Investigations are abounding, and should show that the entire market structure needs to be looked at very strongly and honestly, but I am not holding out any hope for real reform.
Look In The Mirror
May 3, 2010
Good morning. Negative week for the market last week, with the SPY’s finishing down 2.87 to close at 121.73 (2.3%). The VIX had a huge move up of 32%, from 16.62 to 22.05. This followed some sliding markets overseas as mounting concerns of a major China real estate bubble continued, as well as the Central Banks in Europe limping towards a bailout of the debt ridden Greek economy.
Goldman Sachs
April 19, 2010
Good morning. It was a very interesting close to the week last Friday, with the combined Google earnings disappointment and the civil complaint lodged against Goldman Sachs affecting the market. Still, the SPY managed to close only slightly down on the week at 119.36. That represents a loss of only .19 or .2%.
The Fred Sanford Way
April 12, 2010
Good morning. Another positive week for the market last week, as the market has continued to creep up steadily since the correction low of 104.58 on February 5. Last week the SPY was up 1.25 to close at 119.55, a gain of 1.5%. Interestingly, the VIX, which has been trending steadily down as the market has advanced, had a fairly strong advance on the week, closing up 9% at 17.46.