Markets Opened In The Red But Remain Flat And Directionless

Opening Market Commentary For 12-31-2012 Last day of the trading year should be interesting as 99% of traders will be leaving around noon (or have already left) for the New Years Eve festivities tonight. The SP500 future was down 20 points earlier and settling in down around 12. However, my propitiatory models indicated we would be down just a few points at the opening and perhaps even climb up to the Friday's closing numbers. The SP500 opened down 4 points and almost recovered to Friday's closing by the 15 minute mark. If there was going to be a big sell-off as many pundits suggested over the weekend it would have happened at the opening and didn't. Generally, the small cap turned to the green side as the BTFD dippers jumped in with abandon cautiously pushing most averages skyward, well upward a bit. The large caps lagged behind as profit taking once again reared its ugly head and turn...