FYI: Strange days. Stocks roared higher early but abruptly plunged in afternoon trading.
The S&P 500 fell 0.3% after rising more than 1% earlier in the day. Such reversals are rare, happening just three other times since 2012, according to Birinyi Associates. Traders scrambled to assign reasons for the swing, but more than any one thing, lots of macro-related questi0ns remain with stocks at pricey valuations. Strangely, haven gold assets also fell and bonds didn’t get much of a lift. Stocks in Europe and emerging markets were mostly higher. When all was said and done, the S&P 500 finished with its third straight loss.
Regards,
Ted
http://blogs.barrons.com/focusonfunds/2015/01/13/etf-vital-signs-jan-13-reversal-of-fortune/tab/print/
