August 10, 2009
Good morning. First off, I would like to extend an invitation to you to attend our Saturday, August 29th Protected Index Program In-Office Seminar, which will be from 9:00am – 12:00pm at our downtown Chicago office. It is completely complimentary and we provide a nice continental breakfast, coffee bar and classroom materials. My brother Dan and I will be presenting and you will also get to meet some of the PTI brokers and staff and ask all the questions you want. Seats are still available but you must register to attend. Click here to view the details and register. I hope to see you there!
Yet another positive week for the market last week, propelled mainly by Friday’s rally after the relatively positive jobs data. For the week the SPY was up 2.4%, from 98.81 to 101.20, with most (1.31 points) of that gain coming on Friday. The VIX was also down on the week, from 25.92 to 24.76, although curiously still above the 23.09 close of two weeks ago. The even more amazing thing is the moves in individual stocks, mostly those that are steeped in government involvement.
March 24, 2009
Good morning. Last week the market had some volatile moves on a daily, or hourly, basis, but closed the week with a gain of only .8%, with the SPY moving from $76.09 the week before to close at $76.70. Be mindful, however, that the $.72 dividend in the SPY did come out as it went ex on Friday, meaning that it was actually up another $.72. The big news, however, came on Wednesday, when the Federal Reserve announced a long rumored plan to buy some long-term treasury securities.