Friday, October 17, 2008

What did the Market say this week? ... Crash + 1 week

After a whole week of trading during which time, some quite astounding swings were seen, the market is closing about where it reached las Friday ... not where it closed we are up substantially from there, but about where the bounce off the bottom reached last Friday. This, in spite of dear Warren trying his level best to boost it by publicly declaring he is buying for his personal portfolio. They did run it up based on that this morning, but the sellers stepped in and sold that rally as they have been doing for weeks and it is a couple of months now ...

What does all that mean? The jury is still out. This week traded pretty much inside of the range of last week and the tech sector made a slight new low yesterday. They may be able to lead it up next week, now. It has become too much fun for the street to run it back and forth rather than go anywhere in the brave new world where volatility of, well, almost anything is king.

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