Another New High

The market was up yet again today. This was the eighth rally in the last nine sessions. I’ve been a fan of this rally, and I’ve had a lot of fun teasing the doubters, but it’s started to look tired to me (I mentioned I sold Dell earlier today).
For the year, the S&P 500 is now up over 18% not including dividends, and it’s up 58% since the March 9th closing low. Our Buy List has done even better, up 36.3% for the year and 80.3% since March 9th.
The VIX, or volatility index, got close to a new 52-week low today. Interestingly, the VIX rose today even though it usually falls on days when stocks rally. In October, the VIX came close to breaking 90. Today, it’s at 23.
Here’s a look at the S&P 500 (black line, right scale) and the VIX (blue line, right scale):
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Posted by on September 16th, 2009 at 4:46 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.