February 2, 2009
markets were little-changed today. The NASDAQ
Composite added 18
the Dow lost 64.11
to end at 7,937,
and the S&P
shrank slightly to $40.32,
parted with $21.20
to close at $907.20.
Our Internet access was down all day so tonight's comments
and linkages will be blissfully brief. Seasonally speaking, the period from now
through April tends to be positive for stocks. Then the "sell in May and go
away" (until November) rule comes into play. It certainly worked that way
last year, although, in 2007, you would have missed the July and October rallies
following that rule.
The 10 articles in Searching
for the bottom offer some opinions. Peter Brimelow writes Top
advisers feeling more depressed. Also of interest: Banks'
standards keep choke hold on credit and Morgan
Stanley may cut up to 1,800 jobs: report. (Macy's announced plans today to
lay off 7,000.)