Blog Archives
History…Repeats Itself, Repeats Itself, Repeats Itself
April 4, 2011
Good morning. The market continued its advance last week, with the SPY up 1.5% on the week to close at 133.15. This is the highest closing since March 3 of this year, before the shocks of the Japanese reactor issues and the Libyan conflict. Even though neither of those has shown any improvement the market has moved on.
Laughter, Disbelief, Anger
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.
A Hot Mess
November 29, 2010
Good morning. The market retreated a little last week as people headed to the malls for what most prognosticators predict will be a solid holiday buying season. The SPY finished down 1.39 (1.2%) to close at 118.80, almost all of which happened during the half-day session on Black Friday. What was supposed to be a sleepy day turned out to be just that, a sleepy day, except the market opened down around 1% and stayed right there until the close.
Backfire
September 27, 2010
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Good morning. It was another positive week for the market last week, or actually was a very strong Friday after a lackluster first four days. The SPY closed up 2.33 (2.1%) on the week to finish at 114.82, all but one cent of that advance coming on Friday. The economic numbers had been generally positive for the week, and when the Durable Goods number on Friday came in less than forecast in total, but better with the Transportation orders out, the market ran to the upside.
Economics 101
September 13, 2010
Good afternoon. It was a second in a row up week for the market last week, with the SPY advancing .59 to close at 111.48 (.5%). It was significant because the market was able to hold and consolidate the large gains of the week before, leaving the SPY up a strong 4.3% for the two-week period. The VIX was actually up slightly (3%) last week but still showed a large drop of 10% for the two-week period, closing at 21.98.