Blog
The Heart of Darkness
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?
On The Road Again
February 17, 2009
Good morning. I will be on the road today speaking to some potential clients, so I will need to forgo the write-up for now.
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The Corporation: A Portrait of Dysfunction
February 9, 2009
Good morning. We actually started the month of February with a solid advance, with the SPY up $4.15 (or 5%) on the week. This still leaves the SPY down around 3.6% for the year, but still a real advance cutting the losses for the year roughly in half. The VIX was down from 44.84 to 43.36 (3%) for the week, moving in the expected direction for an up week, but still hanging historically very high.
Trillions
February 2, 2009
Good morning. Another week, another sell-off in the S&P. The good news is that the week was only down a little, about .3%, the bad news is that there was a 3.4% up day erased. The up day was caused by the announcement that the Obama administration was going to announce a so-called bad bank to take bad assets from struggling commercial banks, the subsequent sell-off was caused by glitches in that plan as well as increasing issues with the new stimulus package.
Who Will Guard the Guards?
January 26, 2009
Good morning. Another week, another drop in the market. This time the SPY’s were down only from $85.06 to $83.11, or 2.2%. This actually represented a decent recovery from the huge sell-off of 5.3% on Inaugural Tuesday. It does seem, from watching the market, that there still are liquidations going on and any sort of rally is met with renewed selling pressure.