The markets decided to celebrate the New Year by throwing a little rally. The Dow ended p 93.24 (0.81%), the NASDAQ was up 38.65 (1.45%) and the S&P 500 was up 14.25 (1.13%), mostly on the good ISM Manufacturing Survey numbers. There's nothing like beating expectations to prolong the Santa Claus rally.
Winifred Jiau[1] has been denied bail on the grounds that she is a flight risk. She had originally been granted bail to the tune of $250,000, but was held in prison over the weekend because the co-signer of the bond decided not to co-sign.
In "The Markets Need More Regulation" news, the Commodity Futures Trading Commission is bracing for not getting a $92 million budget hike, and not having the funds needed to actually regulate the swaps market like the Dodd-Frank Wall Street Reform and Consumer Protection Act requires. Reports of salivating investment bankers are considered spurious[2].
Marie Laveau is now the Wall Street Journal's endorsed solution to the nation's lingering unemployment problem, as revealed on December 28th in an article about how hoodoo practitioners are aiding their clients in finding work. No word on whether or not LuckyMojo.com will be going public, but 20 years ago some venture capitalist would probably have thrown a few million at it.
If you are buying gold coins, make sure there's enough gold to make it worth your money.
And finally, don't just look back on the trading activity on the Dow in 2010. Listen to it.
[1] The latest alleged inside trader to get swept up in Operation Broken Trust.
[2] Mostly because historical precedent indicates that they really weren't going to be regulated any better anyway, so why worry?
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