Weekly Wrap

What the market thou giveth last week, the market now taketh away.

Across the board, we saw -4% declines in the Dow, S&P 500, Russell 2000, and Nasdaq.

The sectors that managed positive returns this week were mostly defensive in nature - i.e. medical labs, research, healthcare, drugs, medical equipment and supplies, healthcare information, and beverages. The worst weekly performances could be found in semiconductors, residential construction, credit services, banks, construction, farm products, retail, brokers, life insurance, mortgage investment, education and training services, and asset management.

Next week is options expiration week along with Valentine's Day and my wife's birthday (I have some serious shopping to do this weekend!) Bernanke is also scheduled to speak on Thursday. I can't wait!

Have a great weekend!