Daily Investment Interpretations
March 19, 2010
The market have fallen a bit. The NASDAQ Composite tumbled 16.87 points, (-0.71%)
to close at 2,374.81 , the Dow subtracted 37.19
close at 10,741.98, and
the S&P 500 coughed up 5.93
to close at 1,159.90. Oil closed down at $80.58 a barrel.
Gold fell to $1,107.
The VIX rose (finally) 0.35 to 16.97.
There wasn't much news today. Today's retrenchment was on schedule.
Here's an article that presents the case that if the government hadn't stepped in when it did, we would have gone down the tubes. During the week of September 16-23, 2008, when The Primary Fund "broke the buck" (see "2008-9-16"), I sold almost all of my stocks and transferred the money into a U. S. Treasury fund. I was also preparing to withdraw our money from the bank because the Federal Deposit Insurance Corporation was running low on insurance funds. We were facing a world divided into the the quick and the destitute. However unnecessary or unreasonable it might be, if runs begin on banks, you'd better be the among the first customers to arrive. Only swift action by the Federal Reserve that week kept a trickle from turning into a flood. Face it, the government saved us.