March 1, 2010
Good morning. The market ended last week down ever so slightly, with the SPY down a whole .40 (or .4%) on the week. However, that weekly summary masks a series of almost violent ups and downs on both an inter and intra day basis. For example, we had a virtually flat Monday, then a surprisingly negative Consumer Confidence number on Tuesday sent us down almost 1.5%. Wednesday brought a snap back rally of almost the same magnitude, followed by bad jobs numbers on Thursday that had us down almost 2% before recovering to almost unchanged.
October 5, 2009
Good morning. Last week the market had its second down week in a row, with the SPY down 1.96 to close at 102.49. That represents a decline of 1.9%, and is 5.2% off the high of 108.06 reached of 9/17. Is it a healthy pause or is the rally over? To be determined, but clearly the “buy every dip” mentality evident in the long run-up has cooled some. Economic numbers in the last couple of weeks have shown uneven progress in the recovery, and those most recent actually seem to indicate that the recovery is stalling in the face of huge governmental stimulus.