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?
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.