Time for a Breather
5th July 2008
Apparently everyone took my advice and took the week off from trading as the stock market drifted slightly lower as traders were anxiously awaiting a long 4th of July weekend. The DJIA and S&P 500 last 1.5% while the market leading (less lagging) Nasdaq doubled them up with a 3% loss. It looks like we may be in for a little consolidation phase for the financial markets as they try to digest recent losses. This will give traders some time to sit back a watch for some sign of a market recovery. We might as well do that too.
JD