Here's an spx chart with nasdaq overlay, timeframe ytd, 100 and 200 day sma lines, etc:
bigcharts.com
It looks to me like "excess to the upside, excess to the downside." nothing really new here, except this time the "global margin call" (lol, that was a headline on the right-hand front page column of today's WSJ) has exacerbated the trend.
Number me among those who expect that at least some of the $1.258 trillion now in money-market mutual-fund assets to be put to work on at least two days next week (preferably Mon. & Tues ;-o). Actually that $ figure is as of Wednesday, according to the Investment Company Institute (as reported on page A6 of Friday's WSJ under the heading, "Money-Fund Assets Increased $5.04 Billion During Latest Week.")
According to Greg Ip of the WSJ, "Russia accounts for less than 1% of US exports". In the article on page C1, Jeffrey Applegate "the bullish investment strategist at Lehman Brothers," is quoted as saying, "Russia's gross domestic product is equal to about 4% of U.S. GDP. But they're the second-biggest nuclear power, and that's another degree of risk." [so, the market is pricing in the risk of nuclear war? :-o)
DK
PS - obviously I'm ready for a bounce. :-) |
