When did investors last breathe a sigh of relief for a 127 down day (on the Dow)?  Well, after a few weeks of sheer and utter panic, they will take the slight (since when are low triple digits considered sight?) negative day and head to the weekend to regroup.  More government intervention seemed to bring about a bit of calm that ended an eight day horrendous losing streak for stocks.  Fear and uncertainty remain as does excessive volatility.  But the sheer panic seemed to have subsided (at least, for the weekend). Earnings and economic releases will most likely be weak for the foreseeable future, but investors may be accepting that the global governments will act in coordinate ways to manage the crises.  The major indexes rose this week; the credit markets are thawing out.  Still, investors have a long way to go before engaging in any celebrations.  For now, a slight sigh of relief will have to do. 

Attached/linked please find And That’s The Week That Was, the Brounes & Associates market/economic commentary for the week ended October 17, 2008.

Coming up this week:  Leading Economic Indicators (Monday), Existing Home Sales (Friday)

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