Markets conclude a dismal year on a positive note. Dow rose 108, advancers ahead of decliners 5-1 & NAZ was up 26. The beaten up averages with very high yields all did very well, thank you. The Alerian MLP Index had an exceptional day, up 5½ to 176 (after starting the year at 301). High yield (junk) bond funds found buyers in the last couple of weeks. One of mine jumped 25% off its low, reducing the yield to 23%.
Oil had a nice pop on a favorable weekly report (a smaller than expected increase in supplies). Below is a chart for OIL (an ETF that tracks the price of oil). There was a lot of money to be made as long as the ETF was sold near the summer peak.
•Crude Oil Rises After Smaller-Than-Expected Increase in U.S. Fuel Supplies
OIL (ETF) ---- 1 year
In 2008 all mutual funds dropped, save the ones specializing in buying short related ETFs. The best performaing ones (owning regular stocks) were down "only" 10-20%. Let's hope the new year brings better times. My friend has wishes for everybody:
Oil had a nice pop on a favorable weekly report (a smaller than expected increase in supplies). Below is a chart for OIL (an ETF that tracks the price of oil). There was a lot of money to be made as long as the ETF was sold near the summer peak.
| CLG09.NYM.. | Crude Oil Feb 09 | ...42.86 | ... 3.83 .......(9.8%) |
•Crude Oil Rises After Smaller-Than-Expected Increase in U.S. Fuel Supplies
OIL (ETF) ---- 1 year
In 2008 all mutual funds dropped, save the ones specializing in buying short related ETFs. The best performaing ones (owning regular stocks) were down "only" 10-20%. Let's hope the new year brings better times. My friend has wishes for everybody:
& to all, a Good Night!!!
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