8 Years Later

It was a four-day trading week, but a very good one for anyone long the market. Amazingly on 9/10/01 the Dow closed at 9605. As you can see, we closed at the same exact level today:

We closed 2 points above S&P 1040 and today only saw healthy consolidation in overbought conditions without much of a price pullback. That's a good sign, of course, but all of us know never to let our guard down. Next week we'll have more data to chew through and trading volumes should continue to pick up their pace as the fall trading season really gets underway.

For the week overall, the S&P 500 gained +2.59%, Dow +1.74%, Nasdaq +3.08%, and the Russell 2000 +4.05%. To make the big money this week being leveraged long was the key especially in energy (ERX), real estate (URE), small caps (TNA), emerging markets (EDC), solar energy (TAN), natural gas (UNG), telecom (LTL), basic materials (UYM) & airlines (FAA). Stocks in Russia (RSX) also put in an impressive performance.

I hope you've had a good week and will have an even better weekend!

* Remember to check out my interview with Wall St. Cheat Sheet!