Monday, October 13, 2008

More Federal Holidays To Support Market?

If I were a government employee or bond trader, I would be a little concerned the market saw one of its biggest one day rallies on a day they were off work due to the holiday. Could this be a sign we need less government (less government spending) and fewer bond traders to trade that mortgage debt? If so, let's extend the holiday.

The S&P 500 Index finally broke its string of eight straight down days by advancing 104.13 points or 11.58%.

(click chart for larger image)

S&P 500 Index chart 10/13/2008
Every S&P sector saw positive returns with the Industrial being the weakest, returning 7.28%.

(click for larger image)

S&P 500 sector returns 10/13/2008

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