Mar

23

Stephen Maturin and Jack Aubrey, in "The Mauritius Command," by Patrick O'Brian:

Stephen … looked at Jack with his pale, expressionless eyes, looking objectively at his friend, tall, sanguine, almost beefy, full of health, rich, and under his kindly though moderate concern happy and even triumphant. He thought, 'You cannot blame the bull because the frog burst: the bull has no comprehension of the affair…'

This week the shorts must have felt just like the frog when the bull burst it. But what happens afterwards? Well, it seems the bull has no comprehension of the affair and just races on.

Since the beginning of 2003, there have been five instances of an up week of more than three percent (S&P Futures). The next week the market was up five out of five for an average of another one percent.

 


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