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TSP Talk Sentiment Survey results for the week of 11/14/11- 11/18/11
Sell: The TSP Talk Sentiment Survey came in at 45% bulls, 43% bears, for a bulls to bears ratio of 1.05 to 1. That is a sell signal in a bear market which means the system will remain 100% G Fund for the week of 11/14/11 - 11/18/11.
Bear market rules are in affect 8/22/11:
See latest survey results
To discuss or comment on the Sentiment Survey, go to Sentiment Survey Talk
Yesterday we talked about the nervousness of investors as Italy's 10-yr bond moved toward a 7% yield. Well, it blew right threw it and investors went running. The Dow lost 389-points on the day and the indices are now testing some important support levels.
For the TSP, the C-fund lost 3.66% yesterday, the S-fund dropped 4.33%, the
Risk on. In less than 24 hours the market turned from jubilant rally mode over Silvio Berlusconi's possible departure to a fear inspired sell-off as yields on Italian debt rose to levels considered unsustainable.
At this point it would seem that Italy is all but bankrupt as few market analysts see a bailout as a viable option anymore. Hence the spike in bond yields.
Selling was widespread, with financials taking the biggest
Updated 11-10-2011 at 05:49 PM by coolhand
Yesterday stocks put in an almost duplicate day to Monday's action as the indices opened higher, then fell into the early afternoon, and rallied into the close. The Dow gained 101-points on the day and the S&P moved above some key levels.
For the TSP, the C-fund was up 1.24% yesterday, the S-fund gained 1.09%, the I-fund added 1.05%,
I'm not sure how replacing one Prime Minister with another one is going to fix the dire economic conditions Italy is dealing with, but the market broke out the punch bowl anyway. I guess it doesn't take much to have a party on Wall Street.
For the second day in a row stocks overcame significant selling pressure to rally into the late afternoon, this time closing with significant gains across the major averages.