9% Unemployment Coming?

Like many of you, I was around for the bear market of 2001-2002. The summer of 2002 was unlike any sell-off I’d ever seen. I thought the 1,944 point drop on the Dow in 12 days of July 2002 was as bad as it could get. Until now.

Fear and Greed

The fact that it wouldn’t be good for my blood pressure aside, do we really think that stocks can simply move back to their prices of a few weeks ago and everything’s suddenly hunky-dory? No, trepidation and caution are always good traits for investors, especially these days. Profit-taking when you have the opportunity is a good thing, too.

Global Recession?

Now that was a good old-fashioned rebound. The Dow Industrials jumped a record 936 points, or 11%. The NASDAQ was up 195 points.  Of course, with the bond market closed for Columbus Day, stocks pretty much had a free pass yesterday. Despite the nice point totals, I still have to wonder if these gains will stick over the long term.