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Stocks followed through on Monday's big rally, with another big rally on Tuesday. The good news was, the Dow gained another 147-points. The bad news was that it closed nearly 180-points off of the high, as it had been up 326-points before the late fall off
For the TSP, the C-fund gained 1.07% yesterday, the S-fund was up 1.86%, the I-fund
The Dow may have closed up nearly 150 points, but it was up about twice that before some serious selling pressure kicked in during the afternoon session. And large, late day moves are usually attributed to the smart money, which begs the question whether another reversal is at hand.
Overall, I don't think there's a whole lot to read into today's action as market character has generally seen stocks run quickly from one end of the trading
It was a very interesting day for stocks on Monday. While many of us were expecting a capitulation type-sell off that could trigger a bottoming rally, the market instead held rather steady until we got a fluky, strong, news driven afternoon rally.
Although the Dow held up most of the day, the Nasdaq and small caps struggled early trading deep in the red most of the morning, but were taken up with the rest of the market
It seems it's been going on for weeks now. The same news keeps driving this market to extremes. "Stock prices plunge amid European debt fears", "Stock prices rally on European Optimism".
Same story, different day, swap the headline.
And with no economic data to pour over the market chose to focus on Europe. Today, an expectation that EU officials are getting closer to a coordinated effort to prop up banks and address debt
Stocks waffled around most of the day on Friday as the major indices flip flopped above and below the break-even mark all day long. By the close, the Dow had gained 38-points. Considering what happened on Thursday, Friday's action was pretty uneventful.
For the TSP, the C-fund gained 0.62% on Friday, the S-fund was up 1.14%, the I-fund picked