Daily Investment Interpretations
July 1, 2008
2008-7-1: Today, Michael Ashbaugh released a column
entitled, "Sentiment says it's too early to call a bottom",
while Mark Hulbert wrote, "Was Friday the stock market's
bottom?". Today, the Dow dropped 165 points, or about 1½%
before closing up 32 points. The S&P 500 fell 19 points or about 1½% before
closing up almost 5 points, and the Nasdaq Composite exhibited the same pattern.
So Friday wasn't a market bottom but today might have been.
The VIX spiked up to 25.5, but closed at 23 2/3rds.