Blip

About this episode

Stocks saw more positive follow though today, tacking on a percent of a percent or more depending on your choice of benchmark. Volume was once again quite light at just 721 million shares trading hands on the Big Board, but the gains were broad based with advancing issues topping decliners by nearly a 2-to-1 margin. With stocks keying off of global events far more than underlying fundamentals it’s tough to say where stocks are headed in the very short term. But it certainly feels like the market wants to work its way higher. Sentiment – a great contrary indicator – is very bearish right now, which is not surprising given the still-weak economy, oil prices north of $100 a barrel and the debt crisis dragging on in Europe. But the market has a long history of confounding majority opinion. Moreover, valuations are quite low, whether you use forward estimates or trailing 12-month results.

• Category

• Release Date

  Jan 9, 2012

• Runtime

  01:32