Terrible, Terrible Week
Despite impressive advanced on Monday, stocks ended up having their worst week in over five years this past week, with the S&P down by about 5%. This next week should be interesting for the stock market. Several banks are reporting their earnings, and we should hear some more information from Ambak and MBIA. I’m particularly worried about the latter two companies. Jim Cramer predicts that if one of those two goes belly-up, we could see the Dow drop by about 2000 points!