S&P 500 FINANCIALS INDEX
| Value 206.39 | Change 1.64 | % Change 0.8% |
MLPs feel the effects of the rising markets, the Alerian MLP Index went up 1½ to the 263s yet another 2009 high. The chart below shows how much they've risen in the last 2 weeks when the index broke out of its 240-250 trading range. REITs are having a good day, their index popped 3. Junk bond funds continue strong. The VIX, volatility Index, is down .23 to 21.20, another new yearly low, showing how fears have eased. The Treasury 10 year bond is flat with a yield at 3.42%. Oil & gold hardly budged on what is an all stock market day. However, oil at 78½ is in new high territory for the year.
Alerian MLP Index --- 2 weeks
Dow Jones REIT Index --- 2 weeks
There are hopes the consumer is not dead & might spend more freely in the holiday season. This is the kind of thinking bringing out the bulls.
•Retail Sales Rebound Into Christmas as Stock Rally Shows Consumer Not Dead
Buyers see nothing but rosy skies. As long as they are in command, stocks will keep rising even though markets are greatly overbought. Dow is up a startling 3½K in just 7 months in what has to be its best performance in history over that time span. Enthusiasm with no limits worries me especially as high unemployment keeps going even higher.
Dow Jones Industrials --- 2 weeks
One sad note, Misty, one my friend's dogs, had to be put down over the weekend. When informed the dogs insides had pretty much given up, she made the painful decision to put Misty out of her suffering. There was a lot of crying. I was there when was Misty was born & saw when she was given the last shot. I used her picture in this post, we all miss her,
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