djia

Although the DJIA finished up 73 points on Thursday's half day of trading, it was a devastating day for market-leading stocks.

Even high-flying oil service stocks suffered severe corrections in spite of record-high oil prices—a fact that is difficult to interpret.

This week has certainly been a roller-coaster ride for US equities. One day the DJIA is up 400 points, but the next it is down 200 points, and the next it is up 200 points again.

Thursday the DJIA finished up 261 points, but that may just portend another down day for Friday.

Friday was yet another tumultuous down day for stocks. The DJIA gave up 195 points and our Viable Acquisitions Index fell from 150 points to 123 points for Monday's open.

Thursday presented us with a wild ride on Wall Street. Initially the DJIA fell 234 points, and the Nasdaq Composite fell even more on a percentage basis, giving up all of the gains from the recent Fed intervention.

Then the DJIA climbed 339 points to a reading of +115.

Friday was yet another down day for US equities, with the DJIA losing 147 points. The S&P financial sector was down 6% for the week, and Friday's jobs report showed a one-month decline in US employment at a level not seen since 2003.

Equity markets continue to be challenged. The DJIA lost over 300 points on Friday, and our Viable Acquisitions Index fell into the yellow cautionary zone at 87 for Monday's open.

Equity futures were also negative for the open on Monday.

The DJIA saw a 96-point rally on Friday. However, the overall improvement for the week was only slight. Since our last posting of 2/19, our viable acquisitions index has risen from a reading of 91 to a reading of 106 for Monday's open.