S&P 500 Jumps to 1,873

Great day for the market today. The S&P 500 soared 1.53% to close at 1,873.91. That was our best day since December 18.

But the real stars were the small-cap stocks. The Russell 2000 ($RUT) index jumped 2.75% to close at 1,208.65. That’s a huge outperformance for a single day. The VIX plunged back down to 14.10. This was a good day for the optimism trade.

Our Buy List also had a good day. Our portfolio rose 1.62% which edged out the rest of the market. Moog ($MOG-A), which has been a laggard, jumped 5.44%. At one point, it was up as much as 6.79%.

Qualcomm ($QCOM) had a good day with the news of its 20% dividend hike. The company also announced that Steve Mollenkopf will take over as CEO and Paul Jacobs will become the executive chairman.

For the year so far, our Buy List is up 1.73% compared with 1.38% for the S&P 500.

Here’s a remarkable chart. This is the Russell 1000 (in black) compared with the Russell 2000 (gold). The R1000 is the one thousand largest stocks in the R3000 Index, while the R2000 are the smallest two thousand. It’s stunning to see this divergence last for 15 years.

big.chart03042014m

Posted by on March 4th, 2014 at 5:25 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.