Daily Investment Interpretations

March 23, 2010

2010-3-23:  The markets have moved up again today, breaking to new (post-March 2009) highs.  The NASDAQ Composite gained 19.84 points, (0.83%) to close at 2,415.24 , the Dow galloped 102.94 points (0.95%) to close at 10,888.83, and the S&P 500 mustered 8.36 points (0.72%) to close at 1,174.17. Oil closed down at $81.94 a barrel. Gold rose to $1,106. The VIX fell 0.54 to to a new post-March low of 16.33.
    One piece of bad news today: housing sales fell for the third month in a row: Existing condition, prompting Marketwatch' Dr. Irwin Kellner to pen: Where have all the (house) buyers gone?  I would offer the idea that the severe winter most of the country has faced might have something to do with this situation.
    Mark Hulbert avers: Market's rise on health reform was no surprise.  
    Micheal Aashbaugh, in his weekly technical column, observes: S&P 500 passes big test.
    Finally, Walmart has joined Best Buy in announcing that they will begin selling 3-D TVs before the year is up: 3-D TV for the masses. Of course, the success of 3-D TV will be contingent upon the availability of 3-D content. However, these big-box vendors probably wouldn't be adding 3-D TVs to their marketing lines if they weren't assured of a boost in 3-D TV programming.