While the Dow is pitching a pure bull shutout in March - 10 sessions, 10 positive closes - the S&P 500 is within two points of its all-time closing high.
Commentators on the talking heads financial networks (Rick Santelli excluded) have obviously taken enormous gulps from the Fed's Kool-Aid pitcher, because they are all talking like this is absolutely normal and has nothing at all to do with the piles of free money passed around over the preceding four years and currently being handed out at a rate of $85 billion per month.
Best advice is to enjoy it while you can if you're an individual investor (an endangered species), and hope for the best if your funds are locked up in a 401K, annuity, pension or other financial instrument with withdrawal restrictions.
10-day runs are most uncommon. In the history of the Dow Industrials, only eight have occurred, the most recent of which was in 1996.
Dow 14,539.14, +83.86 (0.58%)
NASDAQ 3,258.93, +13.81 (0.43%)
S&P 500 1,563.23, +8.71 (0.56%)
NYSE Composite 9,127.96, +70.94(0.78%)
NASDAQ Volume 1,652,658,750
NYSE Volume 3,702,488,750
Combined NYSE & NASDAQ Advance - Decline: 4350-2072
Combined NYSE & NASDAQ New highs - New lows: 614-33 (Fabulous!)
WTI crude oil: 93.03, +0.51
Gold: 1,590.70, +2.30
Silver: 28.81, -0.151
Thursday, March 14, 2013
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