Tuesday, September 28, 2010

Stocks market advances while gold soars over 1300

Stocks were near break even for much of the day, but late day buying gave good gains.  Dow gained 46, advancers over decliners 5-2 & NAZ added 9.  The mini rally brought the Financial Index back into the black but its remains in the lower reaches of its trading range over the last year. 


Value195.00One-Year Chart for S&P 500 FINANCIALS INDEX (S5FINL:IND)
Change  0.61 +0.3%

The MLP index was up 1½ to the 334s (near the 335 yearly high) & the REIT index was up 2 in the 211s.  Junk bond funds slipped a smidgen while the VIX was down pocket change in the 22s.  A weak dollar sent the € up 1½¢ to almost $1.36, a 5 month high.  But Treasuries (along with gold) are the main story as the yield on the 10 year Treasury bond fell 6 basis points to under 2.46% (essentially at 19 month lows)!  This strength is disturbing to say the least!

Treasury yields

U.S. 3-month
U.S. 2-year
U.S. 10-year

Alerian MLP Index  --  2 months

Dow Jones REIT Index  --  2 months

VIX  --  2 months

10-Year Treasury Yld Index  --  2 months

Oil.was slumbering while gold rose to a record as investors & jewelers increased their gold holdings.There are many ways to participate in the rise of gold, a button below is provided to give ideas.

CLX10.NYM...Crude Oil ...Nov 1076.12.... Down 0.40  (0.5%)

GCU10.CMX...Gold Sep 10...1,306.60 ...Up 9.90  (0.8%)

$$$Gold Super Cycle$$$ Click Here

On this quiet day I took another look at Apple (AAPL) with the 2nd (or maybe 3rd) largest market cap in the world.  Today it was down 3 to 288 for no particular reason but has one of the best charts this year (even better than the Alerian MLP Index chart with reinvested income).

Apple   ---   YTD

Gold soars over 1300, Treasuries are offering record or near record low yields while stocks rose as the averages near yearly highs (but still far off record levels).  Volume continues low at 1B shares on NYSE floor.  It's difficult to make sense out of this disconnect (risk averse & lovers of risk both bidding up prices of different securities).  Dow is pretty much at the May highs & closing in on the 11.2K high for 2010 high.  But the disconnect keeps haunting me!

Dow Jones Industrials  --  2 months

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