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Author Topic: Market Commentary - Jan 03, 2011  (Read 761 times)
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Capitalist Pig
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Posts: 17830

« on: 2011 Jan 03, 09:20:23 pm »

Today was the first trading day of the new year.  And it was a pretty fine showing all around.  This is what is called the "January Effect."  Essentially what happens is that many trading firms and funds sell a lot in December - mostly for tax and vacation reasons.  The things they sold are often repurchased in the new year, some time during January.  This buying lifts markets, and voila!  The January Effect.

So taking a look at today:

US Dollar ETFGoldSilverDow 30S&P 500
22.83+0.53%  1415.30-0.38%  30.54-0.62%  11,670.75+0.81%  1,271.89+1.13% 

I thought a table like this would help make things a bit clearer.  We can see from the relative percentage changes, gold dropped less than the dollar rose.  So gold showed a bit of strength while silver showed some weakness.  The Dow and the S&P showed huge strength as they rose in the face of a rising dollar.  Lots of buying going on, again demonstrating the January Effect.

Happy trading!

Neal McSpadden
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