Market Talk / Dec. 24 - 30

[weatherweenie]

The New York Stock Exchange said Friday it will close on Tuesday as part of a national day of mourning to mark the funeral of President Gerald R. Ford. The NYSE joined the Nasdaq Stock Market, which made a similar announcement on Thursday.

 

[Pilgrim]

From OPM's Website:


President George W. Bush To Close Federal Offices in Tribute to Former President Gerald R. Ford

Washington, D.C. -- By Executive Order of President George W. Bush, all executive departments, independent organizations and other agencies of the Federal government shall be closed on Tuesday, January 2, 2007, as a mark of respect for Gerald R. Ford, the 38th President of the United States.

U.S. Office of Personnel Management (OPM) Director Linda M. Springer notified Cabinet Secretaries, Agency Heads and Chief Human Capital Officers governmentwide about the closure shortly after President Bush signed the Executive Order on December 28, 2006. Springer provided agency leaders with a copy of the President's proclamation, which designates Tuesday, January 2, 2007, as a National Day of Mourning.

The closure order includes Federal offices, with the exception of those offices and installations, or parts thereof, in the Department of State, the Department of Defense, the Department of Justice, the Department of Homeland Security, or other departments, independent organizations, and governmental agencies whose agency head determines should remain open for reasons of national security or defense, or other essential public business.

 

[Pilgrim]

I assume that the above means that TSP will be closed, so any allocation made today will be effective through Wednesday. Will matter most for I fund since OSM will be open.

 

[fedgolfer]

Can anyone remember what was the impetus for the 3% I fund gain on the first trading day of Jan '06?

 

[nnuut]

Looking back at prior posts, the dollar fell big time the last days of December 2005 to the end of January 2006, check it out!
http://charts3.barchart.com/chart.a...&divd=Y&evnt=adv&grid=Y&code=BSTK&org=stk&fix=

 

[FundSurfer]

Looking back at prior posts, the dollar fell big time the last days of December 2005 to the end of January 2006, check it out!

Don't count on history repeating, go back another year. I've also noticed that the dollar has been slipping in late December to January. This doesn't always mean that the I-fund will benefit. In January 2005, the market slipped significantly the first week of the year.

 

[nnuut]

Yer right, but all the funds were up the first of January 2006, there had to be other influences involved. How would I know anyway?:cheesy: At the time I jumped to the "G" thinking we were on the way down, wrong!

 

[FundSurfer]

Can anyone remember what was the impetus for the 3% I fund gain on the first trading day of Jan '06?

Yeah, everyone sold stock last couple weeks of December remembering the prior years new year sell off. People also shorted the market thinking history would repeat. The talking heads on TV were warning people about a repeat of the previous years sell off. So what happened? On First trading day, hedge funds started buying heavily in the morning and then shorts ran to cover and then Joe six pack saw the market take off and bought as well. Then the hedge funds began to sell back later in the month. The I-fund effect was increased by a falling dollar.

 

[fedgolfer]

Yeah, everyone sold stock last couple weeks of December remembering the prior years new year sell off. People also shorted the market thinking history would repeat. The talking heads on TV were warning people about a repeat of the previous years sell off. So what happened? On First trading day, hedge funds started buying heavily in the morning and then shorts ran to cover and then Joe six pack saw the market take off and bought as well. Then the hedge funds began to sell back later in the month. The I-fund effect was increased by a falling dollar.

Similar scenario could be forming now with so many taking profits and becoming bears on the sidelines... mostly based on the assumption fear of a mini-correction.

 

[FundSurfer]

Similar scenario could be forming now with so many taking profits and becoming bears on the sidelines... mostly based on the assumption fear of a mini-correction.

Thought the same thing. It made me sit on the fence, half in (OK 60%) and half out.

 

[vectorman]

The Thrift Savings Plan will be closed on Monday, January 1st, in observance of New Year's Day and on Tuesday, January 2nd, for the National Day of Mourning in honor of President Gerald R. Ford. Because the financial markets and the Federal Government are also closed on both of these days, TSP share prices will not be updated and transactions will not be processed until Wednesday, January 3rd. However, the TSP call centers will be open on Tuesday (January 2nd) to accept participant calls.

 

[airlift]

Do you thimk TSP.gov will acccept IFT changes on Tuesday?

The Thrift Savings Plan will be closed on Monday, January 1st, in observance of New Year's Day and on Tuesday, January 2nd, for the National Day of Mourning in honor of President Gerald R. Ford. Because the financial markets and the Federal Government are also closed on both of these days, TSP share prices will not be updated and transactions will not be processed until Wednesday, January 3rd. However, the TSP call centers will be open on Tuesday (January 2nd) to accept participant calls.

 

[Spaf]

Iraq discussion posts were moved. About 13.
Since they delt with Iraq and World Affairs, you will find them in that thread!

 

[RIDDICK]

Do you thimk TSP.gov will acccept IFT changes on Tuesday?

Good question!

 

[James48843]

Three notices just popped up on the TSP site:

The Thrift Savings Plan will be closed on Monday, January 1st, in observance of New Year's Day and on Tuesday, January 2nd, for the National Day of Mourning in honor of President Gerald R. Ford. Because the financial markets and the Federal Government are also closed on both of these days, TSP share prices will not be updated and transactions will not be processed until Wednesday, January 3rd. However, the TSP call centers will be open on Tuesday (January 2nd) to accept participant calls.

Special Notice: On-line withdrawal transactions are currently unavailable; however, all other account transactions are available at this time. You can obtain information about the status of a withdrawal by calling the ThriftLine (1-877-968-3778) and selecting option 1 (account access) or by speaking to a TSP participant service representative. We are sorry for any inconvenience this may cause.

Special Notice: Due to system maintenance, this Web site including Account Access may be temporarily unavailable on Sunday, December 31, 2006 between 12:00 a.m. and 4:00 a.m. eastern time. If you are unable to access the site during this time, please try again later.

So, yes, the call center will be open on tuesday to take calls. But it looks to me like any IFT placed between now and noon wednesday will get completed at COB Wednesday.

 

[Wheels]

Washington, D.C. -- By Executive Order of President George W. Bush, all executive departments, independent organizations and other agencies of the Federal government shall be closed on Tuesday, January 2, 2007...

...with the exception of those offices and installations, or parts thereof, in the Department of State, the Department of Defense, the Department of Justice, the Department of Homeland Security, or other departments, independent organizations, and governmental agencies whose agency head determines should remain open for reasons of national security or defense, or other essential public business.

The Thrift Savings Plan will be closed...

...However, the TSP call centers will be open on Tuesday (January 2nd) to accept participant calls.

I guess our TSP folks have a pretty high opinion of themselves.

 

[grandma]

:
So, yes, the call center will be open on tuesday to take calls. But it looks to me like any IFT placed between now and noon wednesday will get completed at COB Wednesday.

It would appear that the phone would be open for questions, information, that sort of stuff. Calling in an IFT wouldn't mean that it would get processed any faster than by Web. They'd have to put ON more staff to handle calls in that case, we'd all be doing it !
And if Wall Street is closed both Monday & Tuesday, what difference would it make? (...NOT a rhetorical question - my sense of logic may not operate regarding TSP!!)
grandma

 

[nnuut]

From OPM's Website:


President George W. Bush To Close Federal Offices in Tribute to Former President Gerald R. Ford

Washington, D.C. -- By Executive Order of President George W. Bush, all executive departments, independent organizations and other agencies of the Federal government shall be closed on Tuesday, January 2, 2007, as a mark of respect for Gerald R. Ford, the 38th President of the United States.

U.S. Office of Personnel Management (OPM) Director Linda M. Springer notified Cabinet Secretaries, Agency Heads and Chief Human Capital Officers governmentwide about the closure shortly after President Bush signed the Executive Order on December 28, 2006. Springer provided agency leaders with a copy of the President's proclamation, which designates Tuesday, January 2, 2007, as a National Day of Mourning.

The closure order includes Federal offices, with the exception of those offices and installations, or parts thereof, in the Department of State, the Department of Defense, the Department of Justice, the Department of Homeland Security, or other departments, independent organizations, and governmental agencies whose agency head determines should remain open for reasons of national security or defense, or other essential public business.

I guess this means that we DOD, DOS, DOJ, DOHS folks get off Tuesday unless we hear otherwise?

 

[Spaf]

Will be closing out this week of Market Talk!
Thanks for all the views and posts!
Wish you all a great 2007

Spaf