Sometimes, Wall Street simply chooses to ignore good news. That was the case yesterday as the ADP National Employment Report estimated that 297,000 jobs were created, which was nearly triple of expectations. Another report showed that non-manufacturing expanded rapidly and at the fastest clip since 2006. The markets sold off early but clawed back and managed a modest but steady …
Pausing
While equities sold off early morning yesterday, the damage was very much contained as the afternoon session brought in renewed buying and kept losses at a minimum as the chart above shows. Commodity prices were pressured with gold and silver taking the brunt of the hit. Gold dropped below the 1,400 level while crude oil traded below the $90/barrel mark. …
Starting 2011 On A High
Picking up on the positive momentum from 2010, the markets welcomed 2011 yesterday with their biggest rally in nearly a month. For most of the day, it looked like a triple-digit pop in the Dow, but a last hour fade took back nearly a third of the gains. Nevertheless, the rally was broad with most sectors participating. Commodities moved higher …
Goldman Sachs Guru Forecast
Hat tip goes to reader Mal for pointing to this article “This Goldman Sachs Guru Sees 2011 as ‘the Year of the USA:’” Jim O’Neill shot to fame by predicting the staggering rise of emerging-market economies. Now the head of Goldman Sachs (GS) Asset Management, O’Neill recommended investors buy into so called BRIC economies of Brazil, Russia, India and China …
Happy New Year
I hope you are enjoying the Holiday season, and I like to wish you a Happy New Year, good health and much success. Ending an old year and starting a new one should always include some time of reflection. As I was thinking about that, I came across Todd Harrison’s article on Minyanville titled “Things I’ve learned.” It contains some …
No Load Fund/ETF Tracker updated through 12/30/2010
My latest No Load Fund/ETF Tracker has been posted at:http://www.successful-investment.com/newsletter-archive.phpThe major indexes meandered and closed around the unchanged line on very low volume. Our Trend Tracking Index (TTI) for domestic funds/ETFs has moved above its trend line (red) by +5.09% (last week +5.25%) and remains in bullish mode. The international index has broken above its long-term trend line by +7.02% …