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Thursday, February 4, 2010

Markets Fall on Financial Woes of Greece, Dubai at et al

*I wouldn't make too much of this though. This is the catalyst they were all waiting for to get that 10% correction. Keep your eyes on the futures this evening. Tomorrow is Friday afterall. And next week there will be some bailout from the European Union to help prolong the inevitable. It will be 2008 all over again, mark my words. So cash and patience are king. The S&P 500 has only turned back at 33% so further on the downside is only a little leg. Watch for short covering Fri early and only a mild day. Sunday news will also be key.


Bear Turns to Bull?
February 4, 2010 updated each market day
The S&P 500 closed the day down 3.11%, which puts the year-to-date loss at 4.7%. The index is 57.1% above the March 9, 2009 closing low, which is 32.1% below the peak in October 2007. The decline from the interim high on January 19th is 7.6%.

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