Stocks rallied strongly for most of the day yesterday but some late selling took about half the early gains away by the close. Despite the reversal, it was yet another triple digit gain for the Dow as it close up 103-points.
For the TSP, the C-fund gained 0.99% yesterday, the S-fund was up 1.41%, the I-fund jumped 1.80%, and the F-fund (bonds) lost 0.17%.
Does anyone remember that last sell off? You know, the one where the market was poised to fall off a cliff? Yeah, that one. How long ago was that again? Seven trading days!
And in just seven trading days the S&P 500 is up about 13.5% from its intra-day low on the 4th of October to its intra-day high today.
But let's put this in perspective. If one had bought this market on Oct. 4th when the S&P 500 had bottomed out around
After Monday's huge holiday rally on low volume, we saw a rather flat day yesterday as the Dow lost 17-points, and again volume was very light. The S&P was basically flat and the Nasdaq closed higher.
For the TSP, the C-fund gained 3.47% on Monday and Tuesday combined, while the S-fund was up 4.13%, the I-fund added 3.41%, and the F-fund (bonds) lost
The Nasdaq led the major averages today, with a gain of 0.66% in choppy trade. The S&P 500 squeaked out a 0.05% gain, while the DOW was off 0.15%.
The mute action was attributed to cautious traders who are awaiting the EFSF vote by Slovakia.
Other than that, it was a quiet, albeit choppy trading day.
Here's today's charts:
NAMO ebbed just a bit higher
10/11/11 Despite the bond market, some overseas markets, and many banks being closed yesterday, Columbus Day turned out to be a huge day for the stock market. The Dow closed the day up 330-points yesterday, the 10th triple digit day for the Dow in the last 11.
The TSP was closed on Monday so we don't get to see how the share prices were affected until after