Thursday, March 18, 2010

Stocks hesitate awaiting health care vote

Dow rose 45 extended its 8 day winning streak to reach another new 18 month high, but decliners were ahead of advancers 3-2 while NAZ inched up 2. Banks took it easy, today's value for the Financial Index remains just under yesterday's interim high when it broke thru the ceiling of its 8 month trading range.


% Change

MLPs were resting all day after their recent gains. The index slipped 1+ to the 304s, no big deal. Even REITs lost their strength as the index fell a fraction from yesterday's interim high. Junk bond funds were mixed to higher at their high levels. There was a little selling in the Treasuries, the yield on the 10-year Treasury bond rose 3 basis points to 3.67%.

Alerian MLP Index --- 3 months

Dow Jones REIT Index - 3 months

Oil continued lower while gold remains stuck in a rut a little above 1100.

CLJ10.NYM..Crude Oil Apr 10..82.08 ..Down 0.78


There's not much happening, so I will give another chart for Citi (C). The stock has done well this year on calls that it has a chance to double from here. One of its biggest problems is that the gov plans to sell its immense stake by Dec 31. Citi was down 3¢ to 4.02.

Citigroup --- YTD

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Sorry but Blogger (Google's unit which powers this blog) has been off & on. Hopefully they will get the problems squared away by tomorrow. The markets have their eyes on the health care bill, its outcome & the Dodd bill for more regulation of banks & related institutions. While these 2 are in limbo, it's difficult to imagine the markets doing very much.

Dow Jones Industrials - 3 months

Nasdaq --- 3 months

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