Market recap: Stocks squeezed out small gains, helped by better-than-expected reports on housing...


Market recap: Stocks squeezed out small gains, helped by better-than-expected reports on housing starts and existing home sales, plus the Bank of Japan's contribution to QE-insanity. Oil slipped another 3.5%, hitting a six-week low. Treasury prices rose for a third straight day. NYSE declining issues slightly outnumbered advancers.
Comments (2)
  • wapiti
    , contributor
    Comments (711) | Send Message
     
    Don't forget all the Consumer Discretionary short squeezes as well! Amazing that the consumer is "so resilient" Heard that BS for a long time now
    19 Sep 2012, 04:24 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3121) | Send Message
     
    Relative weakness in the Russell is of concern. Low vol may correct. We are within ~4.5% of the all time $SPX high, and ~1% of the $RUT high.

     

    BOJ's efforts were thwarted with all major crosses down 0.3-0.6%. Looks like QE^n is more believable (so far) as a currency weakener. Japan is still a major creditor nation.
    19 Sep 2012, 04:34 PM Reply Like
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