Oct 11, 2008

Thank Goodness That Week Is Behind Us

With Wall Street's close the financial markets are now all closed for the week. Europe's close was almost as bad as its start and Wall Street had a hell of a day, being down 700, then up, then down again before settling down 100. We are not sure that the G7 meeting is going to make much of a difference. The market is going to have to find its bottom, and as many participants are explaining, the lack of buyers out there suggests that the bottom has yet to be found. The end of play recovery on Wall Street does offer the prospect that when we open on Monday, things may not be as bad as they might otherwise have been.

CNN has a good wrap up.