nervous rally

the dow breaks a 4 week losing streak as does the S&P. The Naz however couldn't pull itself together and fell for the 5th straight week. The DJIA had a 6oo point intra-day in the middle of this week, capping a volatile week with an exclamation point.

The funds that were unable to or didn't want to go short the first part of the year are starting off '08 with a decent sized hole to dig out of over the next 11 months.

Not to say which way we would have positioned outselves but one could debate there would be a 50% chance of us getting our heads ripped off. Not a bad time to delay the start by a few weeks.

Happy Friday.

DJIA 12,207.17

NASDAQ 2,326.20

SP500 1,330.61