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TSP Talk Sentiment Survey results for the week of 12/09/13- 12/13/13
The TSP Talk Sentiment Survey came in at 53% bulls, 37% bears.
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Stocks went on a wild ride yesterday before closing with just modest losses. The Dow opened lower, but shot up into positive territory, then, by mid-afternoon, we saw triple digit losses and finally, despite inching back into positive territory again during the last half hour of trading, it closed down 25-points. Bonds were also down yesterday.
Stocks were down yesterday with the Dow ending the day down 94-points. We did break a trend of weak closes as stocks actually rallied into the close on Tuesday taking the indices well off their lows. Bonds were up, the dollar was down, and we saw a spike in oil prices.
Stocks opened the post-holiday week in negative territory, but climbed back into the green by early afternoon before falling into the close. The losses were modest but accelerated late producing another weak close - a trend that started last week. The Dow lost 78-points, the small caps were hit hard, and the Transportation Index actually closed in positive territory.
Stocks were mixed after the abbreviated trading day on Friday, and it took a sharp late sell-off to move the Dow and S&P 500 into negative territory. As I mentioned in the Weekly Wrap Up, 3 of the 4 trading days last week saw late day sell-offs which, if it wasn't holiday trading, may be telling us something.