DOW HITS 6-WEEK HIGH ON RELIEF OVER EARNINGS – RSI LIKES BOND & INCOME FUNDS March 26, 2009
Posted by Marlowe Cassetti in BIV, BND, CSP, GDX, HYB, NCA, NPI, SHY.trackback
Today in the market, Thursday, March 26, 2009: This time, it was the consumer who had Wall Street rallying. Better-than-expected earnings from big consumer brands Best Buy, ConAgra Foods Inc. and Dr Pepper Snapple Group Inc. sent the Dow Jones industrial average up 174 points Thursday to its highest level in six weeks. It has surged 21 percent since hitting a nearly 12-year low on March 9. And the technology-dominated Nasdaq composite index is now up 0.63 percent for 2009.
Strong demand for government debt at the Treasury Department’s latest auction also lifted stocks by helping investors set aside recent nervousness about the government’s ability to fund its economic stimulus and financial bailout programs. (headline & commentary courtesy of AP via Yahoo Finance)
ETF/CEF Low Volatility:
- BIV Vanguard Intermediate-Term Bond
- BND Vanguard Total Bond Market
- SHY 1-3 Year Treasury Bond Fund (Leh) iShares
ETF/CEF Medium Volatility:
- CSP American Strat Inc Pt III
- NCA Nuveen Calif Muni Valu Fund
- NPI Nuveen Prem Incm Muni Fund
ETF/CEF High Volatility:
- HYB New America High Incm Fund
ETF/CEF Discussion: Well, I’m quite surprised. With such a strong day, I expected more form RSI beside a few bond and income funds, but that’s what we got today. Is there a hidden message here? Who knows with artificial intelligence? Anyway all I know is that these funds have potential upside possibilities. So give them a look and remember to check the expense ratios on the CEFs.
FYI – I own SHY in my IRA portfolio. I purchased a position in GDX today. RSI last recommended GDX on March 18th.
Catch you tomorrow for the close of the trading week.
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