Blog
Bottom of the Economic Tub
December 7, 2009
Good morning. It was a strong week for the market last week after that sneaky sell-off the day after Thanksgiving due to the impending default of Dubai World. Dubai World, $60 B, Dubai stock market down 6% this morning, chump change, who cares?
We have met the enemy and he is us.
November 30, 2009
Good morning, and hopefully everyone had a happy and restful Thanksgiving holiday. The market was mostly positive last week until Friday, the normally sleepy half day after Thanksgiving, when the market reacted to worldwide sell-offs on Thursday due to the impending suspension of interest payments from Dubai World. The SPY was down on Friday from 111.38 to 109.38, or 1.6%, essentially erasing the entire gain of the previous four days, but not nearly as much as the 2-5% drops in other markets around the world.
Turkey Day Week
November 23, 2009
Good Morning. I hope you had a chance to hear Charlie Gasparino of CNBC on the “Stocks and Jocks” show last week. If you did not, you can listen to the archived show at www.StocksAndJocks.net. Charlie has a new book called Sellout and is one of our favorite feisty financial editors. Read about his interview with us here.
Well, this week has turned out to be a bit more hectic than planned. Friday (Options Expiration) was busier than usual and with a shortened holiday week, I thought I’d open up the forum to you, the readers (and hopefully, listeners) to submit your ideas for show topics, guests, or just general market and sports questions you would like me to blog about or for Dr. J and I to cover on our show. Here are two more questions: 1) Is the turkey pardoning by the President still relevant in 2009 and 2) will you be spending more, less or the same this year on holiday gifts?
Send in your feedback, ideas and comments to me at StocksAndJocks@Live.com. I will try and get in a blog post a little later this week, assuming there is a calming lull before the holiday storm. It will be interesting to see how retail sales fare for the upcoming “biggest shopping day of the year”.
OK, Here’s the Situation…
November 16, 2009
Good Morning. Another strong week for the major averages, with the SPY closing at 109.62. That is up 2.3% from last Friday’s close of 107.13, and now up a full 63% from the low of last March. The VIX was down 3% on the week, from 24.19 to 23.36. A lot of the rally seems driven, and is for sure being credited for the advance, by the continuing weakness of the dollar. It goes something like this.
The New Taxation
November 9, 2009
Good morning. It was a very strong week for the market last week, with the SPY making up most of the previous week’s sell-off. The SPY closed at 107.13, up 3.4% from the previous week’s close of 103.56 and almost equal to the 108.08 close of the week before. Even more of interest is the dramatic drop in the VIX last week, down to 24.19 from the last Friday close of 30.69, or a whopping 27%.