DJIA

open 10,338.49

close 10,387.01 up 46.32

day high 10,426.70

day low 10,335.69

today's volume 166,757,540

3mo avg. daily volume 199,883,647

DJTA

open 4,341.53

close 4,400.40 up 58.98

day high 4,437.23

day low 4,341.53

today's volume 14,278,827

3mo avg. daily volume 18,346,085

Definition of doldrums  courtesy of www.infoplease.com.

doldrums (dol'drumz) or equatorial belt of calms,area around the earth centered slightly north of the equator between the two belts of trade winds. The large amount of solar radiation that arrives at the earth in this area causes intense heating of the land and ocean. This heating results in the rising of warm, moist air; low air pressure; cloudiness; high humidity; light, variable winds; and various forms of severe weather, such as thunderstorms and squalls. Hurricanes originate in this region. The doldrums are also noted for calms, periods when the winds disappear, trapping sailing vessels for days or weeks.

 

Sounds like a good definition for political Washington DC or Financial New York.  Lot's of self proclaiming bright and sunny days, promising wonderful lifestyles and brewing massive storms and hurricanes.

 

Boring markets in boring days.  It rained here all day in sunny southwest Colorado.  No volume, no interest, it seems breaths are bated awaiting on "something" to fix the problem... at least for most of us.  I've heard it argued before that on any given day 80% of volume on the markets is institutional buying and selling.  Dow Theory has always argued that everybody knows more than anybody... but it seems Wall Street is less of an "everybody" these days, and more of one collective voice on one small group of a few thousands traders, hedge-fund managers, and firm moguls.  You ask a collective "everybody" if they think we have "good times" ahead of us, and see what they say... ask your neighbor how much of his money is actively invested in equities, or if he's curled up into the safe arms of the almighty US Dollar... or better yet, dreaming of security in a bond portfolio showing the worst yields in their lifetime.  Ask "everybody" and let's see what we all say.

 

Would you short these???  I'm not, but it's enticing :)