MARKET COMMENT
December 27, 2006
Last week the market ended weak and, as we described in our
comment last Thursday, institutions left some troops behind to keep things right
through the end of the year. It looks
like the brass gave the boys in the trenches some ammo to use. They only needed to use a little today as
volume was light but sellers were few.
The AAPL stock options fiasco was one of the highlights as
the stock down 5% early fought back to close marginally higher.
New home sales sparked more talk that perhaps the worst for
the housing market is behind us.
Iranian UN sanctions, coupled with terrorist acts in Nigeria had
little positive affect on oil prices as they fell due to warm winter
temperatures.
Other markets of interest remain many commodity sectors, the
dollar and bonds.
Overseas markets are the big winners for 2006 just as the
previous year. Big dividends are hitting
some sectors this week as well.
We, along with the privates manning their posts, soldier
on. Today was an impressive day no
matter how little the volume. Clearly defending
positions and other bonus related issues were in play today. But, that shouldn’t be a big surprise with
momentum this strong.
Again, intermittent posting will be the rule for ETF Digest
this week. Our major effort is directed
toward a reconfiguration of our roster and portfolio allocations which we’ll
discuss over the weekend.
Have a pleasant evening.
Disclaimer: Among
other securities, the ETF Digest maintains positions in: USO, SPY IWM, MDY, FXE,
IEF, GLD, EEM, EFA, ILF, EWW, EWZ, EWA, EWM, FXI, INP and TRF.