Daily Investment Interpretations

February 23, 2009

2009-2-23 The markets fell out of bed today, once again on Wall Street's fears of bank nationalization... i. e., the threat that taxpayers won't rescue bank investors.The NASDAQ was off 53.51 points (-3.71%) to close at 1,388,. the Dow shed250.89  points (-3.41%) to 7,115, and the S&P 500 contracted 26.72 points (-3.47%) to end at 7430. Oil finished down a bit at $38.00 a barrel, and gold fell back to $995.00. The VIX rose 3.32 to end at 52.62.
    The Dow and the S&P 500 have registered their lowest closes since 1997. (At 743, the S&P 500 closed two points above its November 21, 2008, intra-day low of 741.) It looks as though the major indices have broken out of their 3-month trading ranges, and are heading down.
    I'll add a little to this in the morning; right now, it's bedtime. (There isn't a lot to report.)