This week’s stock market reminded me of a squirrel crossing the road in front of an on-coming car, darting back and forth trying to decide which way to go next. Greece, China, the NYSE — yes, it was quite a week.
Greece voting no on its referendum got the week started. Go here to read the latest and be sure to note the line from an Athens comedian, “Greece is the only country where ‘No’ really does mean ‘Yes.’”
China’s market free fall was stopped in the latter part of the week by a number of actions taken by China. Among the actions is one that says big shareholders (controlling shareholders and board members) can’t sell their stocks for six months. Go here to read more.
Also, on Wednesday, the New York Stock Exchange had to shut trading down for several hours due to a “configuration issue.” Go here to read more.
I thought it was rather amazing how the U.S. markets held up overall in the face of all that’s going on. Again, it sure was quite a week.
Your analogy is perfect!! The question in my mind is “why was the squirrel able to avoid all those automobiles? Or was it that all the autos stopped because they didn’t want to run over the squirrel?
Julian. That’s great. I’m leaning more toward maybe the autos stopped.