Daily Investment Interpretations

January 11, 2011

2011-1-11 (Tuesday Night): Stocks cranked out modest gains today: Stocks cheer Alcoa result, and  Rally to Portugal's defense. The NASDAQ Composite escalated 9.03 points (0.33%) to 2,716.83. The Dow added 34.43 points (0.3%) to  11,671.88, while the S&P 500 rose 4.73 points (0.37%) to close at: 1,274.48. Oil jumped to $91.11 a barrel, and Gold ended at $1,384. The VIX rose 0.4 to 17.54. 
    My investment advisory service has posted Bulls, Bears (and Cubbies) on their website. Among its noteworthy comments: "Make no mistake about it; someday this glorious bull run in the stock market WILL end. However, based on the action we've seen recently, that "someday" doesn't appear to be now. Sure, stocks could and probably should pull back in the near term. Frankly, this may be what we're seeing now (after all, sideways might be the "new down"). And there is certainly a possibility that Wednesday's auction in Portugal and/or the Thursday auctions in Spain and Italy could initiate a corrective phase. But as I wish someone had told me back in 1985 and again during the early days of the bulls dynasty, we're watching a simply dominant performance by the stock market bulls right now. So, instead of fretting about what might trigger the next little wiggle and giggle to the downside, it is probably better to understand the true nature of the team. In other words, this is a bull market - enjoy it.
    Michael Ashbaugh has this to say about the present stock action: Ashbaugh: S&P, Nasdaq survive key tests
    Mark Hulbert says, Contrarians say gold headed higher, while Rex Nutting notes that Small businesses may be growing again.
    Also, U.S. wholesale-level inventories decline.