STTG Market Recap Nov 28, 2012

An interesting session for the markets today. Speed recap courtesy of Fox Business, “The Dow rallied Wednesday, reversing a 110-point slide, as traders grew more optimistic about the prospects of a budget deal in Washington and responded to a report saying the Federal Reserve may extend its bond-buying operations.”

The NASDAQ closed +.81% to 2991.78 and the S&P 500 +.79% to 1,409.93. During bear markets and significant downtrends you’ll see the market gap higher in the AM then sell off to close in the red. Today was the opposite as the market filled its downside gap and closed higher on the day. This is positive price action for the short term.

Lululemon Athletica (LULU) popped out at me today as it is putting together a decently shaped Cup & Handle formation (full lessons on patterns can be found at InvestingTeacher). The stock needs more time but is worth keeping an eye on.

Green Mountain Coffee (GMCR) jumped today to the tune of 27.3% off strong earnings. However, the stock is still trading in the $30s, a far leap away from its previous highs above $100 back in 2011.

Updated market looks,

Last but not least tonight’s fun facts highlight the ever expanding loan bubble. From the WSJ:

  • Payments on 11% of student-loan balances were 90 or more days behind at the end of September, up from 8.9% at the end of June, a rate that now exceeds that for credit cards. Delinquency rates for all other consumer-debt categories fell or were flat.
  • Nearly all student loans—93% of them last year—are made directly by the government, which asks little or nothing about borrowers’ ability to repay, or about what sort of education they intend to pursue.

US outstanding student loan debt now sits at $956 Billion in total as of the end of Q3 and is on pace to pass the $1 trillion mark shortly after the New Year. Celebrate good times…

Stay frosty out there!

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