Blog Archives
A Hot Mess
November 29, 2010
Good morning. The market retreated a little last week as people headed to the malls for what most prognosticators predict will be a solid holiday buying season. The SPY finished down 1.39 (1.2%) to close at 118.80, almost all of which happened during the half-day session on Black Friday. What was supposed to be a sleepy day turned out to be just that, a sleepy day, except the market opened down around 1% and stayed right there until the close.
A Victim of Circumstance
October 18, 2010
Good morning. It was a very interesting week for the market last week, with stocks and bonds heading in different directions. The SPY was up one percent on the week to finish at 117.7, the highest close since May 3 of this year, and within striking distance of the years’ top print of 122.12 on April 26.
Backfire
September 27, 2010
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Good morning. It was another positive week for the market last week, or actually was a very strong Friday after a lackluster first four days. The SPY closed up 2.33 (2.1%) on the week to finish at 114.82, all but one cent of that advance coming on Friday. The economic numbers had been generally positive for the week, and when the Durable Goods number on Friday came in less than forecast in total, but better with the Transportation orders out, the market ran to the upside.
Taking Off The Rose Tinted Glasses
August 30, 2010
Good morning. We had a very solid rally on Friday of over 1.5% in the SPY that was almost able to turn what had been a very negative week to the positive. As it was, the SPY finished “only” down .6% on the week and finished at 106.86. Friday’s close puts the SPY down 4.2% from the closing price of last year of 111.44. The VIX was actually down 4% on the week, closing at 24.45. What are the “reasons” for Friday’s rally?