S&P 500 Snapshot: Friday's ''Mini'' Cliff Dive
From dshort.com - Advisor Perspectives
December 21, 2012 - 4:50pm
Dec 21, 2012 Doug Short The failure of Boehner's Plan B sent index futures to the basement, and the market opened with a selloff. But it was a "mini" Cliff Dive at worst. The S&P 500 dropped 1.18% in the first ten minutes of trading, rallied for about 40 minutes and then sold off to the -1.46% intraday low around 11:30. Boehner assured the press that he was still talking to the president, which perhaps contributed to the some afternoon buying. The index closed the day with a loss of 0.94%. But for the week it was up 1.17%.More...
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