The Kirk Report |
| Posted: 15 Jan 2010 04:17 PM PST After three days up and two days down, we finished up week two with a loss.  For the week, the Dow lost -0.08%, S&P 500 -0.78%, Nasdaq -1.26% and the Russell 2000 -1.26%. Granted, it certainly felt worse than these numbers represent especially in today's session which was the worst we've seen so far this year. To outperform this week being long preferred stocks (PFF), international treasury bonds (BWX), long-term bonds (BLV), consumer staples (XLP) and utilities (XLU) outperformed along with Japan (EWJ). Including leveraged ETFs, the best performers this week were short crude (DTO), short China (FXP), short semiconductors (SSG), short emerging markets (EDZ), short basic materials (SMN), short energy (ERY) and short financials (FAZ). U.S. markets will be closed this coming Monday in observance of Martin Luther King Jr. and we have a 4-day work week to look forward to. As many of you know, I have found four day trading weeks to be some of the most challenging of all and with so much on the line with earnings, I expect that trend to continue. Until then, get some rest and enjoy the weekend. I'll see you on Tuesday if not before! |
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