November 9, 2009
Good morning. It was a very strong week for the market last week, with the SPY making up most of the previous week’s sell-off. The SPY closed at 107.13, up 3.4% from the previous week’s close of 103.56 and almost equal to the 108.08 close of the week before. Even more of interest is the dramatic drop in the VIX last week, down to 24.19 from the last Friday close of 30.69, or a whopping 27%.
March 9, 2009
Good morning. Yet another horrible week for the market, as the SPY continued its seemingly relentless slide lower. The SPY finished the week at $68.92, down 6.8% for the week, bringing the yearly carnage to 23.7%. These numbers are despite a fairly substantial closing rally last Friday that had the SPY close 2.7% above its low print, and actually finish up slightly on the day.