In case you missed it, here’s a summary of the ETF topics and market reviews I posted to my blog during the week ending on 10/7/2012.
After some aimless meandering for a couple of days, upward momentum picked up, and the S&P 500 managed to add some 1.5% for the week.
The mode of operation continues to be the same, as the Fed’s QE-3 seems to put an invisible floor under the markets every time we see a devastating 0.5% pullback in the indexes. I am being facetious, of course, but the typical late afternoon automatic “lift-a-thon” to at least a breakeven point, on those days where the markets pulled back ever so slightly, has nothing to do with economic realities whatsoever.
Nevertheless, if that’s the way the markets are ‘being trended’ higher, we will stay aboard until a reversal activates our trailing sell stops.
Over past week, we covered the following: