The S&P 500 has once again bounced off its upward trend line on its way to new highs, on the back of the announced Facebook IPO and pretty much nothing new from Europe. The index is very overbought at the moment though, so buyer beware. It's above the 70 level in the Relative Strength Index, and closed above the upper [...]
Joseph Gomez, Sr. Investment Advisor Why am I more optimistic about the future of the stock market? I can't help it when I read that mutual fund outflows last year topped $130 billion, or 3 times more than in 2010. Despite the 20% or so rally in the S&P 500 since early October, there were outflows of $28.8 billion in December 2011 [...]
Joseph Gomez, Sr. Investment Advisor The Nasdaq made a multi-year high this week. The index is now up 11.54% for the year, which is nearly double the 6.94% YTD return for the S&P 500. The key to this rally has been the strength we’ve seen in the Financial and Technology sectors, which make up roughly 35% of the market when combined. The S&P [...]
The investment team made the decision to take advantage of recent market strength and take our risk/return perspective from extremely favorable back close to neutral. The decision is the result of economic factors we have pegged as worthy of concern and further monitoring, a potential peak in short term investor sentiment and the uncertainty surrounding the future currency situation in [...]
It has been an interesting week in the markets. There are several developments that compete for rightful and careful consideration. The Swiss franc is perilously close to its 1.20 peg to the euro, perhaps inviting more currency intervention (the last time the franc strengthened as much was late July/early August - a time of great turmoil). In addition to money [...]
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