S&P 500 Snapshot: Leaps from the 2013 Starting Gate

From dshort.com - Advisor Perspectives
January 2, 2013 - 5:37pm

Jan 02, 2013 Doug Short  On Monday, the last day of 2012, the markets rallied on the hope of a Cliff avoidance deal. Today's action was leap from the 2013 starting gate assisted by the methamphetamine jolt of a congressional deal. The S&P 500 surged 1.90% in the first five minutes of trading and moved higher over the next 20 minutes before easing off the sprint. The final hour of selling saw renewed buying when the odds of a closing fade never materialized. The index finished the day with a gain of 2.54%, one basis point off its intraday high. That was the best daily gain in over a year (since December 20, 2011).More...

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