Thursday Market Wrap

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Portfolio Update

FB +0.50%,  QIHU +0.3%,  MDVN+ 2.1%,  BABA +2.6%,  GMCR +1.7%,  BIIB +1.25,  EPAM -0.6%,  AVNR +1.6%,  ACAD +2.7%,  SPLK +2.9%,  NBIX  7+.1%,  AMBA +2.91%,  OVTI +0.7%,  BTU +0.5%, RGLS +3.5%


Upside’s Commentary

For the day the SPX/DOW were +0.40%, and the NDX/NAZ were +0.30%. Bonds lost 9 ticks, Crude slipped 70 cents, Gold added $1, and the USD was higher.  Tomorrow: monthly Payrolls at 8:30 (est. +255k),  and a speech from FED chair Yellen at 10:15. Oh joy.

Going forward here in early November, I still think there’s a good amount of portfolios that have missed out on the rally or not nearly invested in it as much as they would prefer to be.  There’s also likely a good amount of traders who are in denial and shorting into every signal they get looking for a corrective/pullback.

Since 1950, the S&P 500 jumped 16%, on average, in the six months following midterms.  Also, since 1928, the market advanced 7%, on average, and it’s been positive 86% of the time in the three months following midterms.–Marketwatch

Good times. Lets  hope history repeats.

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