(A bear statue faces a bull statue outside the Frankfurt Stock Exchange. Photographer: Peter Juelich/Bloomberg)
All we did during the week, essentially, is to fight our way back to the levels seen at the end of the last week. The start of the week put the fear of the bear into everyone as prices slammed down to levels that many had hoped wouldn’t be seen. But the market is famous for realising everyone’s nightmares and seldom their dreams. Lots of positions got sold out and the rest of the week was spent exiting other positions that some manag...