Diamonds and Dogs
Say Yes to NovemberSay Yes to November
November was a great month for market players. November 2009 is in the books with a 6% total return (dividends included) for the S&P 500. That is the best November since 2001. Year to date, the S&P 500 is up 24.1% versus a loss of 37.7% during the same time period last year. Even though $100,000 would still be worth only $77,314 for the past two years, it does feel good. Last Friday's employment numbers have also shown a glimmer of hope that this job-less recovery could gain some legs into the new-year. Futures traders are now pricing a 90% chance of short term interest rates rising to 1 percent by the end of 2010 as a result of improving economic conditions. Get on board the sleigh, we are positioned for a continued Santa Claus rally.