For awhile it looked like today's action would give back most of yesterday's gains, but in the last half hour of trade stocks rallied back to erase a large portion of their intra-day losses.
The unemployment picture was a positive as anticipated, but oil once again tempered any enthusiasm for stocks. The February nonfarm payrolls was up 192,000, while private payrolls increased by 222,000. Both were better than anticipated and even the prior months data was adjusted upward. The unemployment
Big bounce, now jobs - Stocks rallied sharply yesterday as the bulls seemed to haven gotten tired of waiting for the bears to make their move. The Dow gained 191-points as the wild swings continue... Market Commentary for 3/04/11 Current Daily Market Commentary
TSP Talk Sentiment Survey results for the week of 03/07/11 - 03/11/11 Hold: The TSP Talk Sentiment Survey saw a sharp increase in bullishness after yesterday's big rally. Still it was not enough to move the system to a sell signal. The bulls (55%) to bears (32%) ratio of 1.72 to 1 is neutral so the system's allocation remains 100% S-Fund for next week. Bull market rules are in affect since 9/27/10: See latest survey results
To discuss or comment
The one thing that I've been fairly sure about the last couple of weeks (with respect to the market) is volatility. We've once again walked up to the brink of rolling over this market, only to shoot back higher again on breadth and volume. It really feels like a trap is being set, but I'm not sure whether it's a bull or bear trap. I suspect the latter, but that's been a losing bet for months.
I suppose the biggest development of the day was the report that Gaddafi accepted a peace
Small bounce - Stocks rallied mildly yesterday but ran out of steam and didn't make much of a dent in Tuesday's sell-off. The Dow gained 9-points on the day and has some work to do.... Market Commentary for 3/03/11 Current Daily Market Commentary