Thursday, February 23, 2012

Stock Market Turns Around Midday After Rough Morning

The story is just the same so many times that you have sworn that you have heard it before. The stock market after a rough day(or rather day and a half), manages to pull out a rally towards the end. Would the rally be anything to really rally about? In the end, it is really hard to say. On Tuesday, the Dow Jones shot above 13,000 for a fleeing moment and then plummeted. Some of its rally today caused it to go back into greener waters.

We have what amounts to a tedious cycle. Much like a hamster stuck on the wheel the stock market and to a lesser extent the economy appears to be going around and around experiencing the highest of the highs, some lows, but in general just really not going in any logical direction.

Investors appear to be waiting for something that are giving them stronger confidence. And stock that is actually being purchased is at a lower level. As we have said right here on this blog, the economy in 2012 seems to be much like a weather forecast. What we predict today is seldom true tomorrow.

There may be a mild crisis with fuel in this country coming. No doubt this will lead to many assessing the situation and calling for alternate sources of energy. But alternate sources of energy would require a mass re-education of Joe Average American and that might be years before that happened. Hopefully Americans are going to find it easier to walk or to bike to work, only driving when necessary as that will ease the bleeding.

Stock Market Report 2/23/12

As we said, the stock market is up. What will the end of this four day week and the last full week in February 2012 be? Tune in tomorrow but right now, here are the numbers for the Dow Jones, NASDAQ, and S and P 500 after the closing bell.

Dow Jones: 12,984.81(+46.24)
NASDAQ: 2,956.98(+23.81)
S and P 500: 1,363.46(+5.80)