IT IS TOUGH BEING SHORT IN THIS BULL MARKET

The U.S. stock market ended a great turbulent week punctuated with collapse of the Ruble, gyrations in the oil prices and the Federal Reserve’s policy meeting and most importantly with the biggest weekly gain since October 2014.

Once again Mr. Market proved that nobody knows anything. Nobody expected this low oil price early on and nobody expected the last week volatile rally. Most of the investors anticipated quiet pre Xmas weeks. On the contrary the S&P 500 had its biggest gain since 2009 and gained during the week with more than 3.4%, Dow gained +3%. Who shorted the market, he burned out for sure. Being on the sell side it has not been only hard mentally, but might be a super loser deal either.

Friday performances:

• S&P 500 +0.46%
• DJIA +0.15%
• Nasdaq +0.36%

The S&P hit the 2.075 previous record level last Friday, which is a great sign of the bullish sentiment, without any doubt we are expecting more gains on the index and it is going to get higher in the untouched territory over 2.100 shortly.

The BFM Assets Team.