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SANTA JAMS MARKETS INTO THE CLOSE

|Includes:BAC, DBA, DBB, DJP, EEM, EFA, EPI, EWA, EWC, EWG, EWJ, EWU, EWY, EWZ, EZU, FCG, FXE, FXI, GDX, GLD, GS, HYG, IEF, IWM, IYZ, JJC, JJG, JPM, KBE, KRE, MS, QQQ, RSX, SLV, SPDR S&P 500 Trust ETF (SPY), T, TLT, UGA, UNG, USO, UUP, XHB, XLB, XLE, XLF
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There wasn’t much good news in the data released Friday. Durable Goods missed estimates ex-transports; Personal Income and Outlays also missed and continued to show declining income especially; and New Home Sales were higher by 1.6% which was in line with estimates. The congressional tax impasse was broken as most thought it would but that didn’t stop headline writers from trying to find a reason for the rally. Most headlines centered on the major indexes closing in the green for 2011 which is quite an achievement given the overall news coupled with low / near bear market levels just a month or two ago.

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Stocks: SPY, IWM, QQQ, BAC, MS, JPM, GS, KBE, KRE, XLF, T, IYZ, XLB, XHB, IEF, TLT, HYG, UUP, FXE, GLD, GDX, SLV, DJP, DBB, JJC, JJG, DBA, USO, UGA, UNG, FCG, XLE, EZU, EFA, EEM, EWJ, EWA, EWC, EWU, EWG, EWY, EWZ, RSX, EPI, FXI