Reading Between The Lines

Last week Indices: SP500 -2%, DJIA -2.1%, NAZ -1.4%, VIX +13%

SP500 Financials -2.9%; #1 securities firm Goldman Sachs -1.7%; #1 underwriter of mortgage bonds Lehman Bros -3.1%; #2 underwriter of mortgage bonds Bear Stearns -4.2%.

SP500 Homebuilders -4.5%; #1 Lennar -4.9%;#2 DR Horton -2.4%

Discretionary Consumer Spending: Starbucks -8%; Wendy's -7.1%; Darden Restaurants (Olive Tree & Red Lobster) reporting a Q4 loss -8.4%.

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