Discuss Market Comments 12/01

Indices are barely hanging on- Stocks opened weakly again, and we did see buyers step up once again, but they could not get enough traction to push the indices into a strong close...

Market Commentary for 12/01/10

Current Daily Market Commentary

 

[daveaultman]

Unbelievable move this morning. Very frustrating to have missed this one (assuming it holds). I have to admit, the volatility is wearing me down.

 

[Guest]

Yeah...I thought the market would edge down toward the 200 day. I'm sittin' mostly in cash. I need to just put my money in, listen to John Bogle of Vanguard, and leave it alone.

 

[tsptalk]

Agree. This is a tough one. A one day move triggered by one report. If the S&P didn't break above 1200 I would be ignoring it. I am not convinced, but I am interested.

I hated to use a Dec IFT to buy this early in the month since I know I want to be in stocks around Xmas, so I decided to buy in 50%, just in case it is for real. If it's not, I will have 50% in cash to buy any pullback.

 

[Guest]

I was in stocks and sold this morning when I saw the markets were jumping today. This is the second jump between the 20 day and 50 day that I have sold and I'm not buying that the economy or markets are strong enough to go much beyond the 20 day so I'm happy to be in cash after today.

 

[tsptalk]

I was in stocks and sold this morning when I saw the markets were jumping today. This is the second jump between the 20 day and 50 day that I have sold and I'm not buying that the economy or markets are strong enough to go much beyond the 20 day so I'm happy to be in cash after today.

Nice profit taking, but the S&P is cutting through 1200 and the 20-day EMA pretty convincingly. It kind of reminds me of the first trading day in September. But at market tops you do get a lot of this type of action so I am not 100% convinced.