Lousy week for the markets
I'm not nearly as bearish as some here and remain fully invested, though off margin and 4% short. A major selloff Monday is possible though improbable in my opinion, though I wouldn't be surprised if the downward momentum continues a while longer. My guess is the Nasdaq goes down another 3% next week as compared with 4.56% this week .... but it's tough to predict with any significant degree of confidence.
NEW YORK, April 15 (Reuters) - U.S. stocks fell to 5 1/2- month lows on Friday after disappointing results from IBM heightened concern about a U.S. economic slowdown and sparked worry about the upcoming slew of corporate earnings. The Dow and S&P closed at their lowest levels since early November 2004, while the Nasdaq closed at its lowest since October 2004.
Dow Jones industrial average - For the week, the Dow was down 3.57 percent, or 373.83 points, its worst since March 2003.
Standard & Poor's 500 - For the week, the S&P fell 3.27 percent, or 38.58 points, its worst since August 2004.
Nasdaq Composite - For the week, the Nasdaq was down 4.56 percent, or 91.20 points, its worst since August 2004. Source: Reuters Station
