Daily Investment Interpretations

December 29, 2010

2010-12-29 (Wednesday Night): The markets rose today: U.S. stock indexes extend year-end runs. The NASDAQ Composite gained 4.39 points (-0.16%) to 2,662.88. The Dow rose 20.51 points (0.18%) to  11,575.54, while the S&P 500 gained 0.97 points (0.08%) to close at: 1,258.51. Oil cloased at $91.04 a barrel, and Gold ended up a trifle at $1,411. The VIX slipped 0.15 to 17.52.  
    Economists nailed the 2010 forecast  The 2011 forecast calls for more of the same... slow growth and gradually declining unemployment. 
    Better job market in 2011  
    TopStock Portfolios is warning strongly of the dangers of a significant market decline that could start at any time now: Morning Thoughts: Is The News Being Ignored?, Forget Rates, Is The Fed Targeting Stock Prices?, NAAIM Survey Shows Managers Riding The Trend, Investor Sentiment Still at Extreme Levels, Technical Talk: Dressing Up The Portfolios, TSP Risk Manager Report - December 29, 2010, Historical Tendencies Mean Stocks are Vulnerable, and Singing The Same Happy Song? All eight of these articles sound the same theme: when everyone else is buying. it's time to be selling, and when everyone else is upbeat, it's time to be fearful. One of the articles is asking the same question I've been asking myself: where has all the bad news gone? What happened to the sovereign debt problems and the failure of QE II? I suspect these are being ignored for the holidays.
    I plan to do some serious selling tomorrow morning.