The Kirk Report

Whipsawed! Posted: 17 Oct 2008 09:43 PM CDT The market soared on Monday, dropped both Tuesday and Wednesday, rallied back on Thursday and chopped around on Friday. But, in spite of the whipsaws, it was still the first positive week in the fourth quarter and in several weeks. For the week, the S&P 500 rallied +4.60, Dow +4.75%, Nasdaq +3.75%, and the Russell 2000 +0.76%. The best performing ETFs since last Friday were focused on preferred stocks (PGX, PFF, PGF), energy (FXN, RYE), utilities (UPW), global infrastructure (GII), dividends (IRO), healthcare (RXL), and overseas markets (ECH, DXJ, DNH, DGS). The worst performers where those ultrashort (DUG, TLL, SDP, RXD, SJF), gold (GDX), and homebuilders (SAW). Next week we have lots more earnings reports, Bernanke will speak, and more data on the jobs market housing, and leading indicators. As market conditions hopefully start to settle down a bit, I'll also try to make room for some chart requests among other things. I hope you enjoy your weekend!

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