Apr 24th, 2009
Not a Collapse–Yet
I’m writing this on Thursday evening, and despite earnings season being in full swing, the week hasn’t been a stock market disaster, at least not yet. Yes, the market took a bit of a tumble on Monday, but it hasn’t been a serious dent in the upswing of the last seven or so weeks.
Is this a sign that the market upswing is going to continue? Again, no one knows. I’m hopeful–I really do believe that the market bottomed out in March. But on the other hand, as I said a few days ago, this pace of upswing is not sustainable.
I also want to say that despite the hint in the title that I’m expecting a collapse, I’m not–or at least I’m hoping that I’m not expecting one. I’m just a tad worried.
In any case, I’m also hopeful that the past few days of just a small bit of downward trend is a positive sign that the stock market will do well this year. The S&P 500 is still negative for the year, so we have a long way to go.
