S Fund was up a quarter point today giving up most of the day's gain and closed at 858. The S&P also failed to hold onto its gains for the day closing down a fraction (a common occurrence this year). The culprit seemed to be falling oil pricing in the afternoon (oil was up in the morning which seemed to fuel the market) while Janet Yellen testified to Congress and apparently toed a narrow line between Dove and Hawk holding onto the Fed's option to raise rates while communicating it in ways that acknowledged market sentiments. The day started well and we thought we could see a bear rally but it may have just been short selling that caused the market to head fake today. In light of the late day sputter I don't think tomorrow will be any better. I subscribe to the TSP Smart Investor website and he has a very interesting post today discussing the divergence in earnings and stock prices that reinforces my decision to be short in my other account. It is hard to see where stock prices are sustained in the next few months.
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Posted by: Eric <mil.flyer@yahoo.com>
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Neither the TSP Strategy group, nor individual members, are licensed or authorized to provide investment advice. Any statements made herein merely reflect the personal opinions of the individual group member. Please make your own investment decisions based upon your personal circumstances.
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