The Markets
That sound you heard is the train leaving the station
- Three days in a row the bulls bought all day and into the close. A stunning development.
- Huge wealth has been regained since March 6th when the S&P hit 666. Certainly most folks are at least even for ’09, or up.
- Closing today at 856 is an extraordinary feat. The only thing lacking, and this will bandied about, is the low volume. But that can be chalked up to pre-holiday trading.
- Confidence is sure to build from this past week and month. Now, NOW lets see if it can be maintained.
- The VIX closed at it’s lowest since September. Clearly, fear is subsiding.
- But how? We have three days to figure it out. Has the stimulus, bank bailout, state’s funding, bond re-purchasing, etc, etc, really, really worked? What about all the credit card debt we are drowning. What about the 4% savings rate, up from 0%? What about the Fed notes suggesting we won’t see recovery until min-2010?
- Lets think about all this tomorrow, or the next day. For now let us revel in our little victories.
Have a wonderful, long weekend!
