Wednesday, January 27, 2010

Stocks lower on disappointing new home sales

Dow fell 24, decliners over advancers 2-1 & NAZ was flat ahead of the product introduction by Apple (AAPL). AAPL was down 2 as traders await its news. Banks rose but the Financial Index is still below the important 190 level.


S&P 500 FINANCIALS INDEX

Value
189.87
Change
1.17
% Change
0.6%


The Alerian MLP Index sold off almost 7 to the 290s, a very big hiccup for the index. In contrast, the REIT index was off just change in the 170s. Junk bond funds were down slightly. Treasuries rallied, the yield on the 10-year Treasury bond fell 4 basis pints to 3.59%, remaining close to the 3.60% it has been near for a few weeks. The VIX, Volatility Index, which shot up last week, rose a fraction to the 25s, substantially above the 18 level during the prior week. Traders are more anxious & nervous.


Alerian MLP Index --- 2 weeks




Dow Jones REIT Index --- YTD










These 2 important commodities continue below key support levels (75 & 1100 respectively). Both are down YTD, like stock markets worldwide.


CLH10.NYM...Crude Oil Mar 10...74.46 ...Down 0.25
.......(0.3%)


GCF10.CMX...Gold Jan 10...1,091.00 ...Down 6.90
.......(0.6%)



OIL (ETF) --- YTD




GLD (ETF) --- YTD




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