Stocks gain ahead of the holiday

Dow was up 49 in lackluster trading, advancers over decliners 3-2 while NAZ was up a measly 3. S&P 500 FINANCIALS INDEX perked up with a nice gain:

Value 159.04

Change 2.92

% Change 1.9%

The Alerian MLP Index was off 2.17 to 166.70, Dow Jones REIT Index (JNK) was up 1 & Lehman High Yield Bond ETF soared for what must be a record 2.17 (7%) to 31.46. Other high yield (junk) bond funds generally had more mild gains, despite the very good day for JNK. VIX was down .81 to 44.21, near its recent low of 41.


Oil prices, as is the case with most other commodities, are in their own bear market. Oil has retreated over 110 from its high in the summer. Even countries in the Persian region are going to be running deficits with these low prices.

CLG09.NYM

Crude Oil Feb 09

35.68

... 3.30 .......(8.5%)

Everybody expects holiday retail sales to be dismal, early returns will be reported on Fri.

Once again, Happy Holidays for everybody!!