The weekly Market Update is posted at Alpha Baskets and includes the following;
When the markets were falling on Tuesday there was plenty of gloom to be had in the media and then when things turned up there was plenty of talk about V-shaped bottoms. Whether coincidental or not equities went down when oil went down and then equities rallied, especially on Thursday and Friday, as oil rallied. For now, the two appear to be very closely linked and the swift decline in recent months (longer than that really) has led to oil being viewed as an immediate proxy for economic activity as relates to demand. Last week in this space we posited that the decline in oil might be overdone. The bounce last week does not mean a bottom in and more importantly should not set the expectation that volatility is over.
Please click through to read the entire update.
The first picture is from the Hoot Owl Fire in May 2013. It was a tiny fire but were still able to get help with it.
The second picture is Engine 33 from Boston Fire. It is one of the oldest fire houses still in use in the country and also seems to be one of the most photographed houses.