Daily Investment Interpretations

January 3, 2011

2011-1-3 (Monday Night): The markets leaped out of the starting gates this morning, starting the new year with a major pop to the upside. The NASDAQ Composite jumped 38.65 points (1.46%) to 2,691.52. The Dow rose 93.24 points (0.81%) to  11,670.75, while the S&P 500 hopped 14.25 points (1.13%) to close at: 1,271.89. Oil closed at $91.40 a barrel ($100 oil called 'inevitable' in 2011), and Gold hit  $1,415. The VIX declined 0.14 to 17.61.  
    Retail sales were 13% higher this year than last year.
    Marketwatch has published a trading strategies collection of articles entitled Year of the stock?. One of the most interesting of these may be Itís time to short the market, says Thomas Kee. See also New Congress ready to spar, and Young guns take power in Congress (video).   
    Paul Farrell writes: Reagan insider: GOP destroyed economy. The GOP insider is former Reagan budget director, David Stockwell, Mr. Farrell's point is that Mr. Stockman claims that the Republican Party has already destroyed the U. S. economy rather than that it's destroying the economy. Is he right? Wrong?
    Stock market futures are slightly positive this evening.
    What does Topstock Portfolios make of this unexpected market surge? Technical Talk: Stampede!