Are we in some crazy times or what? Barely two weeks ago the stock market was plunging, with the S&P 500 almost in bear market territory. People were terrified we were entering another recession. We had something like seven consecutive days of gains or losses of more than 100 points, not to mention all of the non-consecutive 100-point shifts we’ve seen in the past year.
Well, add a mediocre jobs report and some slightly positive news on the European debt crisis to the mix and suddenly the Dow is positive for the year again. It’s crazy. Even the slightest bit of positive news pushes the market up hugely. In a way, it reminds me of my days as an assistant football coach at the University of Kentucky.
The first year I was there, we went 0-10-1. The following year we opened the season with a win over Central Michigan, and from the reactions of the team and the fans you would have thought we had won the national championship! I asked my coaching mentor Dick “The Silver Fox” Redding, a 40-year coaching veteran, what it was about a win that seemed to make everything right with the world.
He replied, “Son, you know what happens after a win. They sky is bluer, the grass is greener, the girls are prettier, you stand straighter and feel taller, you get a bounce in your step, smiles abound, laughter is everywhere, hope springs eternal and once again the slate is clean and all things are possible.”
Let’s hang in there on this crazy economic roller coaster and enjoy our wins when we get them. Sooner or later we’ll manage to turn a few good games into an entire winning season. We did at UK – we finished off that season at 6-4-1, which was the largest season-to-season turnaround in Division I college football history at the time.
Have a great weekend,
Ro