Down day after a very successful year

Markets were lower on the final day of one of the best years for stock markets. Volume was extremely low (only .4B on NYSE floor) giving extra strength to the few traders operating. Dow fell 120 with selling at the close, decliners over advancers 3-2 & NAZ dropped 22. Once again, these changes on probably the lightest trading of the year mean little. Bank stocks also had selling at the close taking the Financial Index lower.


S&P 500 FINANCIALS INDEX

Value 193.78

Change 0.72

% Change 0.4

The MLP dropped ½, still in the 285s & the REIT index dropped 3½. The Alerian MLP Index had an unforgettable year, difficult to imagine it ever duplicating that performance with a gain of 109. Junk bond funds were mixed, but many have doubled from their lows when yields were 20-25% & even higher. Markets learned to accept & reward risk. The flip side is the large sell-off in Treasuries. The yield on the 10-year Treasury bond soared after plunging early in the year. Rising yields bring lower bond prices


Alerian MLP Index --- 1 year




Dow Jones REIT Index --- 1 year




10-Year Treasury Yld Index - 1 year










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Oil & gold ended the year up an "up" tick. Oil had a good year after the first 2 months & gold is flying. Fundamentals are in place for gold to climb again, as usual timing is uncertain.

CLG10.NYM

..Crude Oil Feb 10

..79.52

.. 0.24 ......(0.3%)

GCF10.CMX

..Gold Jan 10

..1,095.70

.. 4.20 ......(0.4%)

OIL (ETF) --- 1 year




GLD (ETF) --- 1 year





This was a year for the record books, many didn't call that successfully at the start of 2009. Dow is up 4K (65%) from it lows. But NAZ gained 1K (75%) from its low. Many of the high yields beat even the NAZ. MLPs, REITs & junk bond funds had many which more than doubled from their lows. Buyers in the gloomy days were able to lock up amazing yields!


Dow Jones Industrials --- 1 year




Nasdaq --- 1 year

Happy New Year to all!!