March 21, 2011
Good morning. Volatile and down week for the market last week, despite a solid bounce off the Wednesday lows. The SPY was down 3.08 on the week to close at 127.76 (2.3%), which was still a solid 2.48 (2%) off the low made on Wednesday afternoon. The news regarding the Japanese earthquake damage and subsequent tsunami, soon overwhelmed by events at the nearby nuclear reactor facility, dominated the trading for the week. A big upward reaction to the market was directly associated with a coordinated G7 (first coordinated intervention in over ten years) move to stop appreciation of the Japanese yen in the aftermath of the disaster.
December 7, 2009
Good morning. It was a strong week for the market last week after that sneaky sell-off the day after Thanksgiving due to the impending default of Dubai World. Dubai World, $60 B, Dubai stock market down 6% this morning, chump change, who cares?