Daily Investment Interpretations

February 11, 2011

2011-2-11 (Friday): Once again, the markets fell at the opening and then rose to hit yet new two-year highs on word that Hosni Mubarak had resigned his office.  The NASDAQ Composite jumped 18.99 points (0.68%) to 2,809.44. The Dow slipped 43.97 points (0.36%) to 12,273.26, while the S&P 500 crept up 7.28 points (0.55%) to close at: 1,329.15. Oil closed at $85.28 a barrel , while Gold ended at $1,357. The VIX declined 0.4  to 15.69.
    In The best laid plans often go awry, Mark Hulbert concludes that you can't count over the long haul on any investment advisor or on any investment strategy to strongly outpace the market indices. They just don't exist.
    Howard Gold quotes Laszlo Birinyi and others who are arguing that this bulll market still has a sizable way to run... that this is a true secular bull market that could persist into 2013 and not just a cyclical bull market: Is it time to call this a bona fide bull market-. (Maybe I should mention that true secular bull markets and true secular bear markets last something like 16 years apiece, and that in my book, a bull market that endured five or sic years, like the bull market that ran from 1974 into 1981, would still be a cyclical bull market within a secular bear market.)