Three's a charm.
1) As January goes so goes the year. Well we just had our best January in 14 years!
Dow +2.7%, Nasdaq +1.8%, S&P +2.3%.
2) The year after mid-term elections is a winner.
3) The 3rd. year of a President's term is a winner.
#2 or #3 is 70% of the time and the other is 90% of the time. Who cares which is which? So all of the stars are aligned.
Still, I have worries: The S&P is outpacing the Dow consistently. One day last week the S&P was actually the bigger points gainer. Weird! The norm is if the Dow is up 60 the S&P should be up like 6. So buy the Dow as undervalued? I just dunno.
Let's see, Pfizer outperformed expectations but was still down at the open today.
Nobody likes Big-Pharm I guess. I see now they are finally up today.
BP reinstates their dividend. Oh boy, 7 cents in the fourth quarter. And Bank of America never did away with theirs. A penny per quarter! Good news all around.
Jump back on those high yield bank stocks.
Let's wait and see.
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Tuesday, February 1, 2011
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