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.