December 5, 2011
Good morning. It was a huge week for the market last week, with the SPY up 8.52 (7.3%) to close at 124.86. That number represents a gain of 2.3% over the last two weeks, and a decline of 1.4% from the close three weeks ago on 11/11. The VIX last week dropped a full 20% to 27.52, indicating strongly that the market perception of risk, at least in the short term, has dropped significantly. Why the sudden change in market attitude?
December 20, 2010
Good morning. Even though the SPY had several minor up days last week, as the market continues its gradual but steady rally, it actually closed down 18 cents to finish at 124.30. This is due to the 60-cent dividend that came out on Friday morning.