Sunday, June 11, 2006

The week in review

  • DJIA lost 355.95 this past week, 3.16% to finish at 10,891.92. Very ugly.
  • Nasdaq Composite shed 84.35 points or 3.80% this past week to finish at 2135.06.
  • S&P 500 lost 35.92, 2.79% and finished the week at 1252.30.
  • 10-year Treasury yield fell 0.021 percentage points to finish at 4.979%. Below 5%, this is interesting.
  • Crude oil dropped $0.70 or 0.97% to finish the week at $71.63.
ca·pit·u·la·tion (k-pch-lshn) n.
  1. The act of surrendering or giving up. See Synonyms at surrender.
  2. A document containing the terms of surrender.
  3. An enumeration of the main parts of a subject; a summary.
The question on my mind, now that this market downturn has become a significant correction, is whether capitulation is necessary to end it. Do we really need to see the Dow blow off 500 points in a day before it can turn around?

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