Daily Investment Interpretations

June 17, 2009

2009-6-17:  The markets appear to have bottomed today, at least enough to slow their rate of fall. (Tomorrow is a quadruple options expiration date, so that might have something to do with what's happening.)
    The NASDAQ Composite added 11.88 points (0.66%) to 1,808.06, the Dow shaved 7.49 points (-0.09%) to 8,497.86, and the S&P 500 declined 1.26 points (-0.14%) to end the day at 910.82.  As mentioned above, Oil ended at  $70.96 a barrel, while gold added $4 to 936. The VIX fell a 1.19 to  31.49.
    One factor that could have been weighing on the market is the government's just-announced new rules for the financial industry. Basically, though, it's probably time for a correction. This market has come a long way with no real pullbacks until now.