Switzer on Saturday

Wobbly Week Woolies without WOW!

Founder and Publisher of the Switzer Report
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Friday Close
Change %
Week Change %
Dow Jones
S&P 500
ASX 200
Data for week commencing 26 October

What a wobbly week but I wasn’t expecting too much after we put on 8.8% since September 28, when Glencore scared the pants off our stock market. But let’s keep it in perspective: we’re still up 6.5% in just over a month and that’s after five days this week when we didn’t get the cigar once! The market was off a tick, over 2% for the week.

And let’s face it, some star companies haven’t helped. Woolworths (WOW) had a shocker - what’s happened to its once renowned WOW factor? And it’s high time they named their new CEO. The fact they haven’t found anyone suggests there’s something wrong at the top. I’ll give Gordon Cairns, the new chairman, six months but if nothing positive shows, I’ll dump the company for good and dump on him too!