breaking down the VIX

DJIA
11,346.51



NASDAQ
2,315.63



SP500
1,278.38

heading to the lows

The sell-off continues. When looking at the major indices, the DJIA and S&P 500 are heading down, almost to the lows that the two indices made in March during the major sell-off that was linked to the sub-prime crisis. The pundits and experts say we hit the bottom back in March. If that is the case then one would expect to see us bounce in the next week or so before matching those March lows - therefore setting a higher low and signaling the true bottom was in March just like they said. As said before here though, the market will do what the market does until it starts doing something different. Don't anticipate the bounce that may not happen for a while. If the market is heading south, keep on the right side of the trade until the market signals a reversal.

Happy Friday.

DJIA 11,842.69

NASDAQ 2,406.09

SP500 1,317.93

Father's Day Special

another week, another slew of crazy news events.

-bsc is no longer a viable ticker symbol - comes up as if it never existed
-lehman brothers looks to be circling the drain - can it be saved?
-rumors swirl of other banks that need to have the 'come to Jesus' talk
-Sam Israel of Bayou Group infamy is on the run after a faked suicide
-reports that assets under management for HF's top 2.9 trillion
-new/young hf's still outperform older/larger funds
-oil is getting ramped up again and looks to move higher.....$150 anyone?
-bud is looking to get devoured by euro-beverage monster InBev
-citigroup shuts down old lane - the one they recently bought for way too much
-if there's a fund that is shutting down - then there's one launching too
-sub-prime mess is not contained - just waiting for more shoes to drop

Happy weekend.

DJIA 12,307.35

NASDAQ 2,454.50

SP500 1,360.03