D&D Note (8-28-2012)
Stocks mainly drifted sideways today with traders not willing to make big bets until there is more certainty on what course of action the FED will or will not decided to do. Investors did get a better-than-expected S&P/Case-Shiller Index report showing a 6.9% gain in the housing market in Q2, where analysts had expected a 0.3% decrease.
Consumer confidence did fall though in August with the worst reading since November. The Conference Board index fell to 60.6 from 65.4 in July, worse than the expected 65.7 reading.
Continue to trim your risk exposure ahead of Friday and ultimately the US elections. Currently D&D Investments is now at 38.16% cash in the portfolio, and will look to continue to reduce positions ahead of the looming correction.
The DOW (INDU) lost -21.68 point at -0.17%. The Nasdaq (COMP) rose 3.95 points at 0.13%. And the S&P 500 (SPX) fell -1.14 points at -0.08%.
Oil gained 86 cents to close at $96.29 a barrel.
Gold fell $6.10 to close at $1,669.50 an ounce.
The 10-Year Note gained pushing the yield down to 1.63%
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