April 19, 2010
Good morning. It was a very interesting close to the week last Friday, with the combined Google earnings disappointment and the civil complaint lodged against Goldman Sachs affecting the market. Still, the SPY managed to close only slightly down on the week at 119.36. That represents a loss of only .19 or .2%.
October 5, 2009
Good morning. Last week the market had its second down week in a row, with the SPY down 1.96 to close at 102.49. That represents a decline of 1.9%, and is 5.2% off the high of 108.06 reached of 9/17. Is it a healthy pause or is the rally over? To be determined, but clearly the “buy every dip” mentality evident in the long run-up has cooled some. Economic numbers in the last couple of weeks have shown uneven progress in the recovery, and those most recent actually seem to indicate that the recovery is stalling in the face of huge governmental stimulus.
June 22, 2009
Good morning. First real down week for the market in a while, with the SPY down from 95.08 to 92.04, or 3.2% on the week. A lot of the down move was caused by a correction in the price of commodities, most notably oil. Oil was down over 3% on Friday, and the oil part of the SPY (XLE) was down 8% on the week, from 53.51 to 49.21.