NEW YORK ( ETF Digest) -- As noted in Tuesday's commentary, the trusty $NYMO (McClellan Oscillator) had signaled severely oversold market conditions. As a result, any shred of bullish news would spark a rally. Sure enough, on cue, Alcoa (AA) beat much reduced estimates and somewhere from the bowels of the ECB came the message they "might" be willing to buy "some" Spanish debt. Like I said, it wouldn't take much "might" and "some" language to get the bullish wave going.Bread and Circuses is a metaphor for a superficial means of appeasement. It was the basic Roman formula for the well-being of the population, and hence a political strategy unto itself. It also coincided with the decline of Rome. From Wikipedia the definition continues: "It describes the creation of public approval, not through exemplary or excellent public service or public policy, but through diversion, distraction, and/or the mere satisfaction of the immediate, shallow requirements of the a populace." And who would argue this not being the current situation in our modern society and political leaders.
See more details IWM - The iShares Russell 2000 Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the small capitalization sector of the U.S. equity market as represented by the Russell 2000 Index. The index represents the approximately 2,000 smallest companies in the Russell 3000 Index.
See more details QQQ - PowerShares Capital Management LLC is passionate about our goal of delivering the highest quality investment management available through one of the more benefit-rich investment vehicles ever created, the exchange-traded fund. PowerShares QQQ¿, formerly known as "QQQ" or the "NASDAQ- 100 Index Tracking Stock®", is an exchange-traded fund based on the Nasdaq-100 Index®. The Fund will, under most circumstances, consists of all of stocks in the Index. The Index includes 100 of the largest domestic and international nonfinancial companies listed on the Nasdaq Stock Market based on market capitalization. The portfolio is rebalanced quarterly and reconstituted annually.
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