February 23, 2009
Good afternoon. There was continued market fallout in the last week’s holiday shortened week, with the SPY down an additional $5.44, or 6.6%. That brings the decline this year to 14.2%, and it is only the middle of February! The XLF, the financial sector of the S&P 500, was down 16% on the week to a total decline of 40.6% so far this year.