Monday, December 24, 2007

Short Session Gains

On the day before Christmas, stocks flew higher in a shortened session, with the NYSE Composite leading the way.

The advance was broad, lifting all sectors. All of the major indices were markedly higher right out of the gate and remained in positive territory until the 1:00 pm close.

Dow 13,549.33 +98.68; NASDAQ 2,713.50 +21.51; S&P 500 1,496.45 +11.99; NYSE Composite 9,873.48 +85.55

Following Friday's explosive rally, advancing issues overwhelmed decliners, 4380-1861. New lows squeezed past new highs once again, 240-209. That particular indicator is on the verge of tipping over, and judging from past history, the final week of trading is usually bullish. Indications are for more gains for the remainder of the year, though volumes may be quite a bit lower than normal.

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Oil priced 82 cents higher, closing at $94.13. Gold was $1.10 higher, ending at $816.50, while silver was up 17 cents to $14.66.

Once again, befitting of the season, everything was up. Apparently investors just can't get enough of the jolly spirits and are willing to buy without regard to fundamentals.

Well, after all, maybe they're in a giving mood...

Merry Christmas

NYSE Volume 1,267,431,125
NASDAQ Volume 778,627,250

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