The zombies have been working with the bears over the past week to trim the gains on Wall Street for the year but the bulls are in good shape to end the year with some impressive gains. Coming into today’s session, the Dow is up nearly 6%; the S&P 500 is higher by 11% while the Nasdaq is pushing a 14% return for 2012 and the Russell 200 is up over 12%.
There are a lot of Wall Street pros and hedge funds who had a miserable year and will be glad the year is over but we aren’t. We had an incredible year and while we hate to seeing 2012 end on a sour note with all the political theater and the Fiscal Cliff still in flux, we do have high hopes for 2013.
We will go over all of the numbers on Wednesday as far as our portfolios and a yearend review but there is action we need to take today on a few trades as we close out the books. We mentioned today has been a nasty day for the market over the past decade, with the Nasdaq down 10 out of the last 11 years.
The markets are up today on hopes of a last minute deal that we do hope happens so all of us aren’t stuck paying higher taxes. The President has put his Vice Zombie in charge of talks with the Red zombies and we expect talks to go deep into the day before we get a vote.
We will stay with you as always until the markets closes but let’s go check on our trades as we head into the second half of trading. The Dow is down 3 points to 12,934 while the S&P is advancing 3 points to 1,405. The Nasdaq is showing a gain of 19 points to 2,979.
Subscribers, check the Members Area for the updates and stay close to your email inbox in case we take further action today. We will be sending a Weekly Wrap update out shortly as we raise the stops on some of our profitable trades heading into the New Year.