Daily Investment Interpretations

November 20, 2009

2009-11-20: The indices fell a trifle for a third day in a row. The NASDAQ Composite subtracted`10.78 points, (-0.5%) to end at 2,146.04, the Dow slid 14.28 points (-0.14%) to close at 10,318.16, and the S&P 500 skidded 3.52 points (-0.32%) to 1,091.38. Oil declined to $76.72 a barrel, while gold gained $7 to close at $1,149. The VIX fell 0.44 to 22.19.
    About all I can add to the numbers is that the daily declines are slowing down. For the past four days, the markets have traced out a U-shaped pattern, dropping during the day only to rise near the end of the day. This hasn't kept the markets from falling, but Monday could be an "up" day after three "down" days. What happens after that will be anybody's guess.
    Here's one stock-market economist's playbook for 2010: Forecast for 2010 (Video).
    Mark Hulbert warns that goldbugs have gotten dangerously optimistic: Bullishness among gold timers very high.
    Finally, Pimco's Gross, others say to go more defensive.