The possibility of a long, drawn out war took its toll on the market last week as both the Dow Jones Industrial Average and the NASDAQ gave back a large chunk of their previous weeks gains. Trading was dictated by hourly headlines and rumors, which resulted in triple digit rallies and retreats.
THE MARKETS As the “wave of steel” rumbled towards Baghdad, the bulls celebrated with a blistering eight-day rally. Prospects of a quick end to the war, falling oil prices and a stronger dollar all contributed to the rally that has carried the Dow Jones Industrial Average up over 12% since it bottomed last a week [...]
THE MARKETS The bulls took over late in the week triggering a massive short squeeze that saw the Dow Jones Industrial Average post its best performance in five months. Thursday’s 269.68 point gain (+3.6%) was the largest point and percentage move since October 15, 2002. On a percentage basis, the NASDAQ jumped even higher as [...]
THE MARKETS Once again the market was on hold last week as investors focused on the Iraq standoff. Although rumors about Bin Laden’s capture occasionally woke up the bulls, the market was on a steady decline. On Thursday, the Dow closed at its lowest level in five months. The major averages now look poised to [...]
THE MARKETS The markets continued to be held hostage by the latest war news last week as the Dow Jones Industrial Average and NASDAQ closed the month on a negative note. February’s decline marked the third consecutive month that the Dow finished in the red. For the week, the Dow lost 127 points (-1.58%) and [...]