Going over the data after Friday's close I chose not to write a blog over the weekend because there wasn't anything to say I haven't already said. In my Account Talk I stated "If I believe I can escape with a gain or flat, then I'm likely to make an exit tomorrow and let everyone else chase the rest of this rally."While my exit yielded a 2.70% gain for the month (awesome), I did lose out on an additional gain of 2.63% (not so awesome.) Sometimes it's a good idea to chase rallies and other times
There was a big headline in the news today, but it had nothing to do with the markets. As a result the action was choppy and listless as traders chose to take a break after last week's huge rally.
Here's the charts:
A modest dip in NAMO and NYMO today, but both remain on buys.
NAHL and NYHL also remain on buys.
Runaway rally - After testing the 200-day EMA and investor sentiment hitting extremely bearish conditions, the stock market had a huge week last week, keeping the long-term bullish trend intact, and the Dow capped the week by gaining 168-points on Friday... Current Daily Market Commentary Market Commentary for 7/05/11
I know I'm one. And apparently there resides a whole hen house full of them within the TSP tracker. You may know who or what I'm talking about. Maybe you're one too. I'm talking about bullish chickens.
They're everywhere this week. What else could possibly explain an 18% upside shift in bullish sentiment in our TSP sentiment survey for this week, while at the same time an almost 11% drop in stock allocations across the entire tracker?
Updated 07-04-2011 at 03:09 PM by coolhand
The bulls finally step up
After weeks of corrective action, the stock market finally saw a positive rally that had some teeth. If you recall, the market started to rally the prior week before the Fed’s comments brought the sellers back in, but last week the buyers stayed in control.
For the TSP, the C-fund was up 5.66% for the week. The S-fund gained of 5.41%, while the I-fund led the way at +5.96%. Bonds (F-fund) lost 1.01%, and the G-fund was up 0.05%.