12/19/11 Once again stocks opened strongly on Friday, only to see the gains nearly disappear, and in the case of the Dow, completely disappear.
The indices were mixed as we actually saw big gains in the Dow Transportation Index, strong gains in the small caps, and modest gains in the S&P 500 and Nasdaq. Only the Dow couldn't hold onto a gain as it lost 2-points on the day.
Our sentiment survey was decidedly bullish for the coming week, which kept the system in a sell condition. And both groups reflect that sentiment.
Here's the charts:
The Top 50 increased their allocation by 7.74%. So it appears they are buying the dip and hoping seasonality takes this market higher in the end of the year. This group still remains below a total 50% stock allocation. The
Updated 12-19-2011 at 04:34 PM by coolhand
12/17/11 Bullish seasonality starts
Stocks lost ground last week and it has been interesting to see how the days played out. We saw mostly good economic reports that sent stocks higher in the early trading, yet by the close investors were selling. As we'll discuss below, historical seasonality was bearish last week, but this week things start to change. For the TSP, the C-fund
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A funny thing happened as Fitch downgraded several major financial banks to include Bank of America and Goldman Sachs. The financial sector rallied. It ended the trading day up about 0.5% overall.
After hours, the downgrades continued with Moody's dropping Belgium two notches to Aa3.
Earlier in the day, the consumer price index in November was released and showed no change. Economists were looking for a 0.1% increase. Excluding