Stocks have a mild week

Dow, along with other averages, had a relatively mild time last week, ending essentially even. Daily swings also calmed down a bit from the wider ranges recently. VIX had a weekly trading range of 53-60, ending above 54. But the volatility index still remains at extraordinarily high levels.


Dow Jones Industrials --- 1 week




The drama related to the auto bailout captured headlines continues. The White House is trying to come up with their version of a bailout package to keep the autos alive for a few months at a minimum. However, current signals from the White House are that help is not imminent. Further uncertainty will hurt Asian markets & Dow futures which will be trading in a couple of hours.

• White House says auto loans deal not imminent- AP

The big Federal Reserve meeting is on Mon & Tues, bets are they'll cut 50 or even 75 basis points on Tues. However, such cuts are net expected to have a major impact on boosting the economy. The new rate will be at or near record low levels. The 90 day Treasury bill has a yield of .0.01% (annualized) while the Treasury 10 year bond yields a near record low 2.57%.

Fed ready to slash key interest rate- AP


This terrible financial scandal is just another kick in the head markets don't need at times like these. More investors & near investors will be turned off from investing in stock markets. The concept of "buy & hold" has to deal with its greatest test since the Great Depression."

•Madoff Said to Have Escaped SEC Inspectors Until `Tragedy' Reached Victims