Monday, May 4, 2009
The Market in Pictures
Lots of people are concerned about the strength of the rally that we've had since early March - up a cool 30%. While I won't fault anybody for being in capital preservation mode, you can still hardly see the move on the S&P 500 10-year chart.
Sadly, not counting dividends, the index is down over 30% over the last 10 years, which definitely isn't in most investors' playbook.
If you want this market lower, you're probably hoping that BofA and Citi are unable to raise the non-government money that they are looking for. Futuers are strong in the face of that, though.
The New York Times is said to be closing the Boston Globe and raising prices on NYT paper version again. I think we won't have too much broadsheet to kick around for much longer.