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Friday, March 02, 2007
TGIF???!!!
The entire day looked fine; the indexes were down slightly, but not dramatically. At the last, markets began to tumble. The tally for the week is a hit in the 5% range. So much for my nice restful weekend. What does it all mean? I can't quite put my finger on one event. Is this a "mid-cycle correction?" Is it the beginning of the end of our bull run? Signs seem to point to the former. Overheating in the Asian markets has overflowed to the U.S. and caused some minor events to be amplified. We'll wait out the weekend and hope for the trend to change next week.
DJIA -120.24 NASDAQ -36.21 S&P 500 -16.00