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Lousy Week for Stocks, Bonds End Even On Heavy Volume

CharlesCharles
edited December 2013 in Fund Discussions
SPY down more than 1.5% for first time since August. Like last week, couple back-to-back distribution days, but without the bounce back. Ironically, market sold-off on good news regarding budget in DC. Volume was a bit light, if that helps. SPY remains above 50 and 200 day averages and within 2% of all-time high.

image

Some massive trading with AGG this week. Daily volume Tuesday, Wednesday, and Friday was 2-3 times normal. Ended flat though, down now 3% since May Day:

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Comments

  • AndyJ
    Yet another test of the SPX/SPY 50 coming up for our entertainment?
  • CharlesCharles
    edited December 2013
    Reply to @AndyJ: I'm hoping it's just posturing, locking-in gains for year. I'm not in the over-valued camp. With budget deal, except taper surprise, don't see anything on horizon that will cause stocks to head south. (Ha! Great last words.) Fingers-crossed.
  • MikeMMikeM
    Reply to @Charles: I've put a couple dollars into the S&P500 and Russell2000 indexes the last couple weeks in hopes of a Santa rally. I'll play it out. Question is am I committed enough to add a few more dollars with a pull back (?) It's like betting on my Buffalo Bills. Some day they are going to win one but in the mean time just disappointment.
  • Mona
    Reply to @MikeM:
    It's like betting on my Buffalo Bills. Some day they are going to win one but in the mean time just disappointment.
    MikeM,

    Today was your day.

    Mona
  • MaxBialystockMaxBialystock
    Saw that. Yes, vs. Jax. :)
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