August 17, 2009
Good morning. First down week in a while for the market, but only a little, with Friday’s late rally almost pulling the SPY even for the week. The SPY closed at 100.79, down from 101.20, or .4%. The VIX was actually down for the week, closing at 24.27, down from last week’s close of 24.76. The little damage that was done to the market was generally attributed to the surprise Consumer Confidence reading of 63.2 versus forecast of 69.
July 6, 2009
Good morning. Down week for the market as Friday’s poor unemployment numbers spooked what had been a very flat week. The SPY finished at 89.81, down from 91.84 or 2.3% on the week. Friday’s move was actually down 2.7%, as we had been up slightly.
April 20, 2009
Good morning. Yet another positive week for the market, making it five advancing weeks in a row! Is there anyone out there (except the talking heads on TV who seem able to revise their predictions on the fly) who would have thought that on those dark days of early March?
April 6, 2009
Good morning. The market, despite a bad start on Monday, had another strong week as the S&P finished at $84.26, up $2.65 or 3%. Friday’s close represents an amazing 26% rally from the lows set on March 6, and for the buy and hold types it gets you back to roughly where you were on Feb. 10. We are still down about 7% on the year, but it sure feels like up compared to the first week of March. Is this a real rally?