Friday, December 21, 2007

Big up day!!

Dow Jones bounced in a sideways fashion until today. It gapped up on the opening, today's 200 point gain gave it a 1% gain for the week. Not bad. Even banks did well today. The big ones I follow were up a good 1% each. But Washington Mutual (WM) was down. The largest S&L in the country is being investigated, sounds bad. The stock has cut the dividend sharply, 14 is it's lowest price in 11 years. Countrywide (CFC), still below 9, the country's largest owner of mortgages, is also being investigated on many fronts.

Next week should be good for the markets, time for the year end rally. Can't wait to see!

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