Monday, January 6, 2014

As Bitter Cold Grips the Nation, Are Bears Clawing at Wall Street?

In three days, the rally which started on March 9, 2009, will be 59 months long, or, just a month shy of five years. That's a long enough time, one should believe, to make gains and take profits, so why is Wall Street worried about the declines of the first few sessions of 2014?

Are they worried? Maybe not. After all, the rally has seen only one 10% correction in those five years, so taking a little off the top of all-time highs might actually be a buying opportunity.

Last week, the excuse was low volume because all the participants were still on vacation. That doesn't fly, now that Monday started off the first full week for markets with equally low volume.

Next, the weather will be blamed, for everything. Just watch.

DOW 16,425.10, -44.89 (-0.27%)
NASDAQ 4,113.68, -18.23 (-0.44%)
S&P 1,826.77, -4.60 (-0.25%)
10-Yr Note 98.23, +0.96 (+0.98%) Yield: 2.96%
NASDAQ Volume 2.14 Bil
NYSE Volume 3.23 Bil
Combined NYSE & NASDAQ Advance - Decline: 2409-3326
Combined NYSE & NASDAQ New highs - New lows: 256-28
WTI crude oil: 93.43, -0.53
Gold: 1,238.00, -0.60
Silver: 20.10, -0.108
Corn: 427.75, +4.25

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