Last week was probably one of the most stressful in recent times for "Wall Street ". No one really knew if the market would go into a "free fall ", whether the downswings on Monday and Wednesday would continue on Tuesday and Thursday . Whether there was any good news lurking out there ? Were we going back to "7,300 " after bouncing around 12,000 for a while?
Nobody knew, nobody was sure, the customers were panicked and Wall Street was bracing for the worst . A dark cloud of pressure and stress hung over lower Manhattan (and for that matter the whole "Global Economy") for the entire week , right up to the closing bell Friday.
I guarantee you there were a multitude of relieved traders, brokers, investment bankers, wealth managers and customers at 4 pm "EST " this past Friday. Nobody was drinking white wine then , just the hard stuff...And from what I hear, plenty of it!
So where does that leave us? Last week we had 3 days of gains, 2 days of downswings and "The Dow" ended the week down just a 100 points or so . Come Monday morning at the opening bell we will all start the week fresh. No "S&P downgrade" lurking over the market waiting to wreak havoc and fury Monday morning. I believe also a renewed sense of confidence "that we can take the worst punch and still get up". Wall Street "manned up " this past week.
This week we get our reward....11,300, 11,500, 12,000........Who knows?
Let's not think about it yet, it's only Saturday night! " May the force be with you"!
No comments:
Post a Comment