Blog Archives
Look In The Mirror
May 3, 2010
Good morning. Negative week for the market last week, with the SPY’s finishing down 2.87 to close at 121.73 (2.3%). The VIX had a huge move up of 32%, from 16.62 to 22.05. This followed some sliding markets overseas as mounting concerns of a major China real estate bubble continued, as well as the Central Banks in Europe limping towards a bailout of the debt ridden Greek economy.
The Fred Sanford Way
April 12, 2010
Good morning. Another positive week for the market last week, as the market has continued to creep up steadily since the correction low of 104.58 on February 5. Last week the SPY was up 1.25 to close at 119.55, a gain of 1.5%. Interestingly, the VIX, which has been trending steadily down as the market has advanced, had a fairly strong advance on the week, closing up 9% at 17.46.
Grind Out Some Returns
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.
OK, Here’s the Situation…
November 16, 2009
Good Morning. Another strong week for the major averages, with the SPY closing at 109.62. That is up 2.3% from last Friday’s close of 107.13, and now up a full 63% from the low of last March. The VIX was down 3% on the week, from 24.19 to 23.36. A lot of the rally seems driven, and is for sure being credited for the advance, by the continuing weakness of the dollar. It goes something like this.
The Sherman Act
October 19, 2009
Good morning. A positive week for the market last week, even with a down Friday due to a couple of rocky earnings reports. The SPY closed at 108.89, up 1.5% for the week, bringing the total rally in the SPY from the March low to 62.3%. Friday there was positive earnings from Google, but not so positive from IBM, GE, and Bank of America. In fact, BAC still seems to be writing off some loans in the consumer sector and will continue to have some problems in that area for a while. The question is, how much of even a positive earnings announcement is already anticipated in the price?