I SPY a 5-Day Losing Streak.
Media spokesmen love to spout statistics. They were quick to let traders know that the market experienced its first five-day losing streak of 2013.
The short-term chart of the SPY (S&P 500 ETF) makes things appear pretty drastic. Not shown was the fact that it went ex-dividend for $0.838 per share on Sept. 20.
The nominal loss drops to just (-1.84%) in total return on an adjusted basis. That is equivalent to a $10 stock going down about 18 cents over a full week of trading.
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