With the lack of economic news for the first few days of this week, the market  focused on the dismal retail numbers instead.  Case in point was CC filing for bankruptcy.  GM was downgraded by Deutsche Bank.  China announced their economic stimulus package.  The DOW closed down on the first day of the week by 73 points.

When will the triple digit days subside?  Tuesday, the DOW moved south 176 points on weak earnings reports from the likes of SBUX, TOL and SIRI.

Wednesday, continuing bad retail news contributed to a declining market as M and BBY guided lower.  The question remains unclear as to whether the automakers F and GM will receive government assistance.  Some on Capitol Hill view the systemic risk of a failing auto industry too much to take.  The DOW was down 411 points.

Thursday, lawmakers fought over the prudence of a bailout for the suffering car industry as INTC and WMT presented a pessimistic forecast.  A late day rally pushed the DOW up 552 points.

Friday saw the market down most of the day on poor Retail Sales numbers and a less than stellar Michigan Sentiment Report.  Even so, the DOW actually turned green ever so briefly in the afternoon before retreating to close down 337 point.

Week over week, the DOW was down 446 points.  The SPX was worse by 58 and the COMPQ finished off 130 points.

 Have a wonderful week!

Robin

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