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David Fry, ETF Digest (68 clicks)
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D Fry Market Outlook 28 12 2006

Last week the market ended weak, but institutions left some troops behind to keep things right through the end of the year. It looks like the brass gave the boys in the trenches some ammo to use. They only needed to use a little today as volume was light but sellers were few.

The Apple Computer Inc. (AAPL) stock options fiasco was one of the highlights as the stock down 5% early fought back to close marginally higher.

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New home sales sparked more talk that perhaps the worst for the housing market is behind us.

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Iranian UN sanctions, coupled with terrorist acts in Nigeria had little positive affect on oil prices as they fell due to warm winter temperatures.

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Other markets of interest remain many commodity sectors, the dollar and bonds.

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Overseas markets are the big winners for 2006 just as the previous year. Big dividends are hitting some sectors this week as well.

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We, along with the privates manning their posts, soldier on. Today was an impressive day no matter how little the volume. Clearly defending positions and other bonus related issues were in play today. But, that shouldn't be a big surprise with momentum this strong.

Have a pleasant evening.

Disclaimer: Among other securities, the ETF Digest maintains positions in: United States Oil Fund ETF (USO), S&P 500 Index (SPY) iShares Russell 2000 Index ETF (IWM), MidCap SPDRs ETF (MDY), Euro Currency Trust ETF (FXE), iShares Lehman 7-10 Yr Treasury Bond ETF (IEF), streetTRACKS Gold Trust ETF (GLD), iShares MSCI Emerging Markets ETF (EEM), iShares MSCI EAFE Index Fund ETF (EFA), iShares S&P Latin America 40 Index (ILF), iShares MSCI Mexico Index ETF (EWW), iShares MSCI Brazil Index ETF (EWZ), iShares MSCI Australia Index (EWA), iShares MSCI Malaysia Index (EWM), iShares FTSE/Xinhua China 25 Index (FXI), INP and Templeton Russia & Eastern Europe Fund CEF (TRF).

Source: David Fry's Daily Market Outlook