Seeking Alpha

David Fry's  Instablog

David Fry
  • on ETF Quick Picks And Lists
9,725 Followers
0 Following
Send Message
David Fry writes a subscription newsletter focused on technical analysis of exchange-traded funds, called ETF Digest (www.etfdigest.com). Dave founded the ETF Digest in 2001 and was among the very first to see the need for a publication that provided individual investors with information and... More
My company:
ETF Digest
My blog:
Dave's Daily
My book:
The Best ETFs: U.S. Equities (A Companion Guide To Building Your ETF Portfolio)
  • Risk on as Markets Rally 0 comments
    Jan 3, 2012 7:30 PM | about stocks: SPY, IWM, QQQ, RMBS, MU, INTC, SMH, SOXX, MS, JPM, GS, XLF, XBI, IBB, IEF, TLT, HYG, CVY, UUP, FXE, GLD, GDX, SLV, DJP, JJC, DBA, JJG, MOO, USO, UGA, XLE, EFA, EZU, EWJ, EWG, EWI, EWY, EWC, EWZ, RSX, EPI, FXI

    The unique thing about the first day of trading for 2012 is that it's almost a carbon copy of 2011 for the S&P 500 Index--2011 (1271.87) and 2012 (1277.06). Better data caused a 1.55% rally in the index Tuesday first from the ISM Mfg Survey (53.9 vs 53.45 expected and 52.7 previous) and later from a notably friendly Fed Minutes report. European stocks rallied as the European PMI rose (46.9 vs 46.4 previous) which isn't that encouraging really. Swiss Manufacturing rose (50.7 versus 44.8) But things were better in Asia as manufacturing in Singapore rose 6.5% and manufacturing growth in Australia, China and India also improved.

    Negative news regarding eurozone woes were silent, at least for now, but they'll be back to haunt us sometime in the first quarter. After all, the world's largest economies still face a $7.6 trillion tab for 2012.

    Some, if not many in the financial media, put a lot of stock in the "January Barometer" and "First 5 Trading Days on January" but these are about as reliable as the Super Bowl indicator. This is also an election year and it will be ugly to watch.

    Leading the way higher Tuesday were financial stocks (XLF), energy (XLE) and technology (XLK). Many financial stocks will report earnings over the next two weeks.

    Gold and silver reversed course and rallied sharply higher as the dollar was weaker. Some of the selling in both metals may have been due to the unloading of large positions to meet hedge fund redemptions not to mention some nations selling to raise cash as noted HERE.

    <READ MORE>
    Stocks: SPY, IWM, QQQ, RMBS, MU, INTC, SMH, SOXX, MS, JPM, GS, XLF, XBI, IBB, IEF, TLT, HYG, CVY, UUP, FXE, GLD, GDX, SLV, DJP, JJC, DBA, JJG, MOO, USO, UGA, XLE, EFA, EZU, EWJ, EWG, EWI, EWY, EWC, EWZ, RSX, EPI, FXI
Back To David Fry's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Most Commented
Posts by Themes
AAPL, Actively Managed ETFs, Africa, AG, Agricultural Commodity ETFs, Algo, Algos, Alt ETFs, Alternative ETFs, Apple, Argentina, Asia, Australia, Banks, Base Metals, Basic Materials, Ben Bernanke, Bernanke, Bill Gross, Bonds, bonds, Bonds ETF, Brazil, BRIC, Chile, China, China Economy, China ETFs, Chinese, Chinese ETFs, Colombia, Commodities, Commodities , Commodity ETFs, Commodity Producer ETFs, Copper, Copper , Corporate Bonds, COT report, Crude Oil, CSI 300, Currencies, Currency, DeMark , Direct Energy, Dividend ETFs, Dollar, dollar index, Dollar Index, earnings,
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.