What better evidence could there be of the stock market's unpredictability than that it rose while New Orleans was sinking? My position is that no one, even after the fact, can tell us reliably why the market does what it does, let alone predict its future.

For all my bellyaching, August wasn't that bad. The GTI's 1.5% loss was pretty mild, considering the steady stream of bad news with which we are daily bombarded. Could it be that the market sees things the media do not?

Just imagine the happy times that await us when the bulls return from the beach. No longer will we have to pray that rain will drive them to their cell phones to place buy orders.

Here it is Labor Day, but the Northwest Airlines strike can't get off the ground. A company and its employees have enormous common interest. If labor looks only at the areas of disagreement, it is doomed to failure in today's competitive markets. The American labor movement seems old and toothless.

I can relate to that. I too am long in the tooth. Except for grilling the meat and pouring the wine, my days of labor are behind me.

Except, of course, for penning these missives to you, dear reader. It's one of the things that keep me young. But like most things that are good for me, it's a struggle. It requires finding something to write about every week.

So, I hope you'll excuse me if I dog it a bit today, if I kick back on this Labor Day weekend, if I give you even more fluff than usual.

But one thing I must tell you, speaking of labor. My daughters-in-law are thinking grandchildren again. God bless them.

I love this stage of life, seeing new generations coming along, and seeing my children make me redundant. I happily rest on my oars and pass the baton.

As you can see, though, I reserve the right to mix my metaphors and crunch my clichés. Come what may, the GTI must get out.

The Market Day by Day

As I said, an amazing week.

Returns for the Week:

Gilder Technology Index (GTI):  + 1.2%
Nasdaq Composite Index (NSD):  + 1.0%
S&P 500 Index (S&P):  + 1.1%