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Just like that the Grinch has been at least temporarily banished as stocks soared to their best single session gain in the month of December.



The reason for the jubilation? Lower yields for Spanish debt and good sentiment surveys in Europe for starters.

On the domestic front, November housing starts and building permits were up big to an annualized rate of 685,000 units and 681,000 permits respectively. Both number easily ...

12/20/11

Another positive open turns sour as the day wore on and investors do not seem to be in any mood to buy the dips. The Dow lost 100-points on the day, closing near the lows.


For the TSP, the C-fund dropped 1.17% yesterday, the S-fund lost 1.79%, the I-fund fell 1.40%, and the F-fund (bonds) gained 0.13%.

The S&P ...

The market continues to bob and weave (with a short term downward bias) and today's action continued that character as stocks opened up higher before eventually succumbing to significant selling pressure later in the afternoon.



There wasn't much going on the market today, but news out of the EU continues to be negative. The fact that financials were the hardest hit sector today (down 2.3%) also doesn't help the bullish case. In fact, Bank ...

12/19/11

Once again stocks opened strongly on Friday, only to see the gains nearly disappear, and in the case of the Dow, completely disappear.

The indices were mixed as we actually saw big gains in the Dow Transportation Index, strong gains in the small caps, and modest gains in the S&P 500 and Nasdaq. Only the Dow couldn't hold onto a gain as it lost 2-points on the day.

...

Our sentiment survey was decidedly bullish for the coming week, which kept the system in a sell condition. And both groups reflect that sentiment.

Here's the charts:




The Top 50 increased their allocation by 7.74%. So it appears they are buying the dip and hoping seasonality takes this market higher in the end of the year. This group still remains below a total 50% stock allocation. The ...