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 12/30/2012.
Hope for a fiscal cliff rescue package finally fizzled out, and the markets slipped with the S&P 500 surrendering some 2% during this holiday shortened week. More meetings are planned, but odds are low that anything meaningful will be accomplished.
Some watered down version of a cliff compromise will do nothing to resolve the issues at hand and will only be another can kicking exercise. The markets may have finally woken up to that fact and may not react too kindly to any such attempt of avoiding reality.
I am sticking to my long-held view that it will take a 20% or higher drop in the markets to get Washington’s finest to become serious about attacking the issues that ail us.
Over past week, we covered the following: